Advisors Asset Management Inc. Raises Holdings in Tractor Supply (NASDAQ:TSCO)

Advisors Asset Management Inc. increased its position in Tractor Supply (NASDAQ:TSCO) by 21.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 37,684 shares of the specialty retailer’s stock after acquiring an additional 6,745 shares during the quarter. Advisors Asset Management Inc.’s holdings in Tractor Supply were worth $9,863,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Future Financial Wealth Managment LLC purchased a new position in Tractor Supply during the 1st quarter valued at about $26,000. Private Wealth Management Group LLC bought a new position in shares of Tractor Supply in the fourth quarter valued at approximately $27,000. Pinnacle Bancorp Inc. purchased a new position in Tractor Supply during the fourth quarter valued at approximately $28,000. Rise Advisors LLC lifted its stake in Tractor Supply by 157.1% in the 1st quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock worth $28,000 after purchasing an additional 66 shares in the last quarter. Finally, J.Safra Asset Management Corp grew its position in shares of Tractor Supply by 700.0% during the 1st quarter. J.Safra Asset Management Corp now owns 112 shares of the specialty retailer’s stock valued at $29,000 after purchasing an additional 98 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TSCO. Barclays increased their price objective on Tractor Supply from $234.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Wedbush reissued a “neutral” rating and set a $270.00 price objective on shares of Tractor Supply in a report on Friday. Piper Sandler raised their target price on shares of Tractor Supply from $265.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. TD Cowen boosted their price target on shares of Tractor Supply from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, Truist Financial lifted their price target on Tractor Supply from $289.00 to $293.00 and gave the stock a “buy” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $256.58.

Tractor Supply Stock Up 2.0 %

Shares of TSCO stock traded up $5.08 during mid-day trading on Friday, reaching $262.52. 971,387 shares of the company’s stock traded hands, compared to its average volume of 1,154,945. The company’s 50-day moving average price is $273.95 and its 200-day moving average price is $256.96. The company has a market cap of $28.30 billion, a P/E ratio of 25.95, a P/E/G ratio of 3.42 and a beta of 0.81. The company has a quick ratio of 0.19, a current ratio of 1.40 and a debt-to-equity ratio of 0.83. Tractor Supply has a 12 month low of $185.00 and a 12 month high of $290.38.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $3.93 EPS for the quarter, missing the consensus estimate of $3.94 by ($0.01). Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. The business had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same period in the previous year, the firm earned $3.83 EPS. The company’s revenue was up 1.6% on a year-over-year basis. On average, equities analysts expect that Tractor Supply will post 10.33 earnings per share for the current fiscal year.

Tractor Supply Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 28th were paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend was Friday, May 24th. Tractor Supply’s payout ratio is 42.84%.

Tractor Supply Company Profile

Tractor Supply Company operates as a rural lifestyle retailer in the United States. The company offers various merchandise, including livestock and equine feed and equipment, poultry, fencing, and sprayers and chemicals; food, treats, and equipment for dogs, cats, and other small animals, as well as dog wellness products; seasonal and recreation products comprising tractors and riders, lawn and garden, bird feeding, power equipment, and other recreational products; truck, tool, and hardware products, such as truck accessories, trailers, generators, lubricants, batteries, and hardware and tools; and clothing, gift, and décor products consist of clothing, footwear, toys, snacks, and decorative merchandise.