Verition Fund Management LLC bought a new stake in shares of Tractor Supply (NASDAQ:TSCO) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 8,469 shares of the specialty retailer’s stock, valued at approximately $534,000.
Other hedge funds have also added to or reduced their stakes in the company. Amundi Pioneer Asset Management Inc. purchased a new position in Tractor Supply in the 4th quarter worth approximately $139,359,000. JPMorgan Chase & Co. raised its stake in Tractor Supply by 272.3% during the 1st quarter. JPMorgan Chase & Co. now owns 772,945 shares of the specialty retailer’s stock valued at $48,710,000 after buying an additional 565,333 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Tractor Supply by 19.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,375,561 shares of the specialty retailer’s stock valued at $212,727,000 after buying an additional 552,372 shares during the last quarter. Alliancebernstein L.P. raised its stake in Tractor Supply by 180.8% during the 4th quarter. Alliancebernstein L.P. now owns 680,823 shares of the specialty retailer’s stock valued at $50,892,000 after buying an additional 438,384 shares during the last quarter. Finally, Champlain Investment Partners LLC raised its stake in Tractor Supply by 38.6% during the 1st quarter. Champlain Investment Partners LLC now owns 1,292,115 shares of the specialty retailer’s stock valued at $81,429,000 after buying an additional 360,040 shares during the last quarter. Hedge funds and other institutional investors own 80.62% of the company’s stock.
A number of brokerages have weighed in on TSCO. BidaskClub lowered shares of Tractor Supply from a “hold” rating to a “sell” rating in a research note on Saturday, March 10th. Stephens set a $70.00 target price on shares of Tractor Supply and gave the company a “hold” rating in a research note on Tuesday, April 17th. Zacks Investment Research lowered shares of Tractor Supply from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. Moffett Nathanson raised shares of Tractor Supply from a “neutral” rating to a “buy” rating in a research report on Monday, March 5th. Finally, Credit Suisse Group set a $73.00 price objective on shares of Tractor Supply and gave the company a “hold” rating in a research report on Thursday, April 26th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $73.52.
Tractor Supply opened at $76.85 on Monday, according to Marketbeat. Tractor Supply has a 52 week low of $49.87 and a 52 week high of $82.68. The stock has a market cap of $9.52 billion, a price-to-earnings ratio of 22.28, a P/E/G ratio of 1.42 and a beta of 1.28. The company has a quick ratio of 0.22, a current ratio of 1.96 and a debt-to-equity ratio of 0.54.
Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, April 26th. The specialty retailer reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. Tractor Supply had a net margin of 5.88% and a return on equity of 31.99%. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the prior year, the firm earned $0.46 EPS. The business’s revenue was up 7.6% on a year-over-year basis. sell-side analysts forecast that Tractor Supply will post 4.08 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 12th. Shareholders of record on Tuesday, May 29th were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Friday, May 25th. This is an increase from Tractor Supply’s previous quarterly dividend of $0.27. Tractor Supply’s dividend payout ratio is 37.24%.
About Tractor Supply
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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