Bristlecone Advisors LLC Purchases Shares of 740 Tractor Supply (NASDAQ:TSCO)

Bristlecone Advisors LLC purchased a new stake in shares of Tractor Supply (NASDAQ:TSCO) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 740 shares of the specialty retailer’s stock, valued at approximately $215,000.

Several other hedge funds also recently modified their holdings of TSCO. Brookstone Capital Management grew its stake in shares of Tractor Supply by 20.1% in the first quarter. Brookstone Capital Management now owns 1,776 shares of the specialty retailer’s stock worth $465,000 after acquiring an additional 297 shares during the last quarter. Wealthcare Advisory Partners LLC acquired a new stake in shares of Tractor Supply in the first quarter worth $332,000. SteelPeak Wealth LLC grew its stake in shares of Tractor Supply by 25.0% in the first quarter. SteelPeak Wealth LLC now owns 3,334 shares of the specialty retailer’s stock worth $873,000 after acquiring an additional 667 shares during the last quarter. Eagle Ridge Investment Management grew its stake in shares of Tractor Supply by 1.3% in the first quarter. Eagle Ridge Investment Management now owns 66,190 shares of the specialty retailer’s stock worth $17,323,000 after acquiring an additional 818 shares during the last quarter. Finally, CAP Partners LLC acquired a new stake in shares of Tractor Supply in the first quarter worth $214,000. 98.72% of the stock is owned by institutional investors.

Tractor Supply Stock Performance

Tractor Supply stock opened at $272.77 on Monday. The stock has a 50-day simple moving average of $282.24 and a 200 day simple moving average of $273.33. The company has a quick ratio of 0.17, a current ratio of 1.48 and a debt-to-equity ratio of 0.81. Tractor Supply has a 12-month low of $185.00 and a 12-month high of $307.64. The stock has a market capitalization of $29.42 billion, a price-to-earnings ratio of 26.53, a P/E/G ratio of 3.42 and a beta of 0.80.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $3.93. The business had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $4.28 billion. Tractor Supply had a return on equity of 50.19% and a net margin of 7.53%. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted $3.83 earnings per share. On average, research analysts anticipate that Tractor Supply will post 10.25 earnings per share for the current fiscal year.

Tractor Supply Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were issued a dividend of $1.10 per share. The ex-dividend date was Monday, August 26th. This represents a $4.40 annualized dividend and a yield of 1.61%. Tractor Supply’s dividend payout ratio is currently 42.80%.

Insiders Place Their Bets

In other news, SVP Matthew L. Rubin sold 540 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $262.35, for a total transaction of $141,669.00. Following the completion of the transaction, the senior vice president now directly owns 5,170 shares in the company, valued at approximately $1,356,349.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Kurt D. Barton sold 23,532 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total value of $6,957,000.48. Following the completion of the transaction, the chief financial officer now directly owns 9,683 shares in the company, valued at approximately $2,862,682.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Matthew L. Rubin sold 540 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $262.35, for a total value of $141,669.00. Following the completion of the transaction, the senior vice president now owns 5,170 shares of the company’s stock, valued at $1,356,349.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Melius Research initiated coverage on shares of Tractor Supply in a research note on Monday, September 23rd. They issued a “buy” rating and a $315.00 price objective on the stock. Loop Capital lifted their price target on shares of Tractor Supply from $250.00 to $260.00 and gave the stock a “hold” rating in a research note on Friday, September 6th. Barclays lifted their price target on shares of Tractor Supply from $240.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Friday. Benchmark reiterated a “buy” rating and set a $280.00 price target on shares of Tractor Supply in a research note on Monday, October 21st. Finally, UBS Group lifted their price target on shares of Tractor Supply from $272.00 to $280.00 and gave the stock a “neutral” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Tractor Supply has an average rating of “Hold” and an average price target of $277.70.

Tractor Supply 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.