Shell Asset Management Co. grew its position in shares of Tractor Supply (NASDAQ:TSCO) by 73.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 40,171 shares of the specialty retailer’s stock after buying an additional 17,024 shares during the quarter. Shell Asset Management Co.’s holdings in Tractor Supply were worth $3,927,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently bought and sold shares of the business. State of Tennessee Treasury Department raised its holdings in shares of Tractor Supply by 35.1% in the 4th quarter. State of Tennessee Treasury Department now owns 181,833 shares of the specialty retailer’s stock worth $15,172,000 after purchasing an additional 47,239 shares during the period. Psagot Investment House Ltd. bought a new stake in shares of Tractor Supply in the 4th quarter worth approximately $35,000. Foothills Asset Management Ltd. bought a new stake in shares of Tractor Supply in the 1st quarter worth approximately $2,234,000. First Hawaiian Bank raised its holdings in shares of Tractor Supply by 42.8% in the 1st quarter. First Hawaiian Bank now owns 9,187 shares of the specialty retailer’s stock worth $898,000 after purchasing an additional 2,753 shares during the period. Finally, Millennium Management LLC raised its holdings in shares of Tractor Supply by 66.8% in the 4th quarter. Millennium Management LLC now owns 505,942 shares of the specialty retailer’s stock worth $42,216,000 after purchasing an additional 202,673 shares during the period. 84.78% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently commented on TSCO. Barclays lifted their price target on shares of Tractor Supply from $100.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, May 16th. Wedbush reaffirmed an “outperform” rating and issued a $115.00 price target on shares of Tractor Supply in a report on Thursday, May 16th. Wells Fargo & Co reaffirmed a “buy” rating and issued a $115.00 price target on shares of Tractor Supply in a report on Wednesday, May 15th. BidaskClub cut shares of Tractor Supply from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Finally, Morgan Stanley lifted their price target on shares of Tractor Supply from $96.00 to $104.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $98.42.
Shares of TSCO stock opened at $101.14 on Friday. The company has a current ratio of 1.58, a quick ratio of 0.15 and a debt-to-equity ratio of 0.43. Tractor Supply has a 1 year low of $72.72 and a 1 year high of $107.98. The firm has a market cap of $12.20 billion, a price-to-earnings ratio of 23.47, a price-to-earnings-growth ratio of 1.91 and a beta of 1.11.
Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Thursday, April 25th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.07. Tractor Supply had a net margin of 6.68% and a return on equity of 36.16%. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter in the previous year, the firm posted $0.57 EPS. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, sell-side analysts expect that Tractor Supply will post 4.76 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 28th will be issued a dividend of $0.35 per share. This is a boost from Tractor Supply’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Friday, May 24th. This represents a $1.40 dividend on an annualized basis and a yield of 1.38%. Tractor Supply’s payout ratio is presently 28.77%.
In other news, CEO Gregory A. Sandfort sold 25,896 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $95.00, for a total transaction of $2,460,120.00. Following the completion of the transaction, the chief executive officer now directly owns 117,554 shares in the company, valued at approximately $11,167,630. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Steve K. Barbarick sold 32,867 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $104.13, for a total transaction of $3,422,440.71. Following the transaction, the chief operating officer now owns 46,894 shares of the company’s stock, valued at $4,883,072.22. The disclosure for this sale can be found here. Insiders have sold a total of 328,051 shares of company stock worth $33,304,084 in the last three months. Insiders own 1.50% of the company’s stock.
Tractor Supply Profile
Tractor Supply Company operates rural lifestyle retail stores in the United States. The company offers a selection of merchandise, including equine, livestock, pet, and small animal products necessary for their health, care, growth, and containment; hardware, truck, towing, and tool products; seasonal products, such as heating products, lawn and garden items, power equipment, gifts, and toys; work/recreational clothing and footwear; and maintenance products for agricultural and rural use.
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