Pinnacle Financial Partners Inc Buys 47 Shares of Tractor Supply (NASDAQ:TSCO)

Pinnacle Financial Partners Inc raised its position in shares of Tractor Supply (NASDAQ:TSCO) by 4.3% in the third quarter, HoldingsChannel reports. The fund owned 1,131 shares of the specialty retailer’s stock after acquiring an additional 47 shares during the period. Pinnacle Financial Partners Inc’s holdings in Tractor Supply were worth $329,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. LRI Investments LLC acquired a new position in Tractor Supply in the 1st quarter valued at $28,000. Future Financial Wealth Managment LLC acquired a new position in shares of Tractor Supply in the third quarter valued at about $29,000. First Personal Financial Services bought a new position in Tractor Supply during the third quarter worth about $29,000. Whittier Trust Co. raised its stake in Tractor Supply by 60.9% in the 2nd quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock worth $30,000 after purchasing an additional 42 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new stake in Tractor Supply in the 2nd quarter worth about $33,000. Institutional investors and hedge funds own 98.72% of the company’s stock.

Tractor Supply Price Performance

Shares of TSCO opened at $277.08 on Friday. The company has a quick ratio of 0.17, a current ratio of 1.48 and a debt-to-equity ratio of 0.81. The stock has a market cap of $29.60 billion, a PE ratio of 26.95, a PEG ratio of 3.50 and a beta of 0.82. Tractor Supply has a 12-month low of $193.73 and a 12-month high of $307.64. The business has a 50-day simple moving average of $284.23 and a two-hundred day simple moving average of $275.32.

Tractor Supply Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be issued a $1.10 dividend. The ex-dividend date is Monday, November 25th. This represents a $4.40 dividend on an annualized basis and a yield of 1.59%. Tractor Supply’s dividend payout ratio (DPR) is presently 42.80%.

Insider Activity at Tractor Supply

In other Tractor Supply news, CFO Kurt D. Barton sold 23,532 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were 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. This represents a 70.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.24% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Gordon Haskett cut shares of Tractor Supply from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, October 24th. Mizuho increased their price target on Tractor Supply from $250.00 to $270.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Benchmark lifted their price objective on Tractor Supply from $280.00 to $310.00 and gave the company a “buy” rating in a report on Monday, October 28th. Loop Capital increased their target price on Tractor Supply from $250.00 to $260.00 and gave the stock a “hold” rating in a report on Friday, September 6th. Finally, Melius Research assumed coverage on Tractor Supply in a research note on Monday, September 23rd. They issued a “buy” rating and a $315.00 price target for the company. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $282.82.

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.