Envestnet Asset Management Inc. trimmed its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 2.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 106,284 shares of the specialty retailer’s stock after selling 2,782 shares during the period. Envestnet Asset Management Inc. owned about 0.09% of Tractor Supply worth $8,131,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Alps Advisors Inc. bought a new stake in shares of Tractor Supply during the 2nd quarter worth $570,000. Swiss National Bank raised its stake in shares of Tractor Supply by 2.7% during the 2nd quarter. Swiss National Bank now owns 415,400 shares of the specialty retailer’s stock worth $31,774,000 after purchasing an additional 11,000 shares during the period. Principal Financial Group Inc. raised its stake in shares of Tractor Supply by 0.4% during the 1st quarter. Principal Financial Group Inc. now owns 196,559 shares of the specialty retailer’s stock worth $12,388,000 after purchasing an additional 850 shares during the period. Ridgewood Investments LLC raised its stake in shares of Tractor Supply by 17.2% during the 2nd quarter. Ridgewood Investments LLC now owns 11,768 shares of the specialty retailer’s stock worth $900,000 after purchasing an additional 1,725 shares during the period. Finally, NN Investment Partners Holdings N.V. raised its stake in shares of Tractor Supply by 12.3% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 47,533 shares of the specialty retailer’s stock worth $3,635,000 after purchasing an additional 5,214 shares during the period. Institutional investors own 81.72% of the company’s stock.
TSCO stock opened at $89.91 on Friday. The company has a quick ratio of 0.19, a current ratio of 1.92 and a debt-to-equity ratio of 0.39. The stock has a market cap of $10.75 billion, a price-to-earnings ratio of 27.00, a P/E/G ratio of 1.65 and a beta of 1.43. Tractor Supply has a twelve month low of $54.76 and a twelve month high of $91.92.
Tractor Supply (NASDAQ:TSCO) last posted its earnings results on Thursday, July 26th. The specialty retailer reported $1.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.08. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.17 billion. Tractor Supply had a return on equity of 35.24% and a net margin of 6.34%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.25 EPS. sell-side analysts expect that Tractor Supply will post 4.19 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 11th. Shareholders of record on Monday, August 27th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Friday, August 24th. Tractor Supply’s payout ratio is presently 37.24%.
A number of brokerages recently issued reports on TSCO. Zacks Investment Research upgraded Tractor Supply from a “hold” rating to a “buy” rating and set a $97.00 price objective on the stock in a research note on Tuesday, August 28th. BidaskClub upgraded Tractor Supply from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 25th. Oppenheimer boosted their price objective on Tractor Supply from $80.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday, August 17th. ValuEngine upgraded Tractor Supply from a “hold” rating to a “buy” rating in a research note on Tuesday, August 14th. Finally, Stephens set a $93.00 price objective on Tractor Supply and gave the company a “buy” rating in a research note on Friday, July 27th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Tractor Supply currently has a consensus rating of “Buy” and an average target price of $80.60.
In other Tractor Supply news, EVP Benjamin F. Parrish, Jr. sold 5,000 shares of Tractor Supply stock in a transaction dated Monday, July 9th. The stock was sold at an average price of $78.44, for a total transaction of $392,200.00. Following the completion of the transaction, the executive vice president now owns 21,948 shares of the company’s stock, valued at approximately $1,721,601.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gregory A. Sandfort sold 140,709 shares of Tractor Supply stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $90.28, for a total value of $12,703,208.52. Following the transaction, the chief executive officer now directly owns 118,845 shares of the company’s stock, valued at approximately $10,729,326.60. The disclosure for this sale can be found here. Insiders have sold a total of 194,167 shares of company stock valued at $17,081,669 in the last ninety days. Insiders own 1.60% of the company’s stock.
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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