Advantage Trust Co purchased a new position in shares of Tractor Supply Company (NASDAQ:TSCO – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,125 shares of the specialty retailer’s stock, valued at approximately $59,000.
Several other large investors have also made changes to their positions in TSCO. Wellington Management Group LLP raised its position in shares of Tractor Supply by 16.0% in the 1st quarter. Wellington Management Group LLP now owns 27,604,769 shares of the specialty retailer’s stock worth $1,521,023,000 after buying an additional 3,815,520 shares during the period. Vanguard Group Inc. raised its position in shares of Tractor Supply by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 66,631,422 shares of the specialty retailer’s stock worth $3,671,391,000 after buying an additional 2,597,450 shares during the period. Alliancebernstein L.P. raised its position in shares of Tractor Supply by 10.8% in the 1st quarter. Alliancebernstein L.P. now owns 24,664,907 shares of the specialty retailer’s stock worth $1,359,036,000 after buying an additional 2,408,373 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Tractor Supply by 14.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,927,641 shares of the specialty retailer’s stock worth $657,214,000 after buying an additional 1,510,489 shares during the period. Finally, Select Equity Group L.P. raised its position in shares of Tractor Supply by 16.8% in the 1st quarter. Select Equity Group L.P. now owns 8,959,995 shares of the specialty retailer’s stock worth $493,696,000 after buying an additional 1,290,771 shares during the period. 98.72% of the stock is owned by hedge funds and other institutional investors.
Tractor Supply Stock Up 0.2%
Shares of Tractor Supply stock opened at $55.29 on Tuesday. The business has a 50-day moving average of $58.55 and a 200-day moving average of $54.96. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.28 and a quick ratio of 0.16. The company has a market capitalization of $29.30 billion, a PE ratio of 27.13, a P/E/G ratio of 2.83 and a beta of 0.73. Tractor Supply Company has a 1-year low of $46.85 and a 1-year high of $63.99.
Tractor Supply Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Monday, August 25th were paid a dividend of $0.23 per share. The ex-dividend date was Monday, August 25th. This represents a $0.92 annualized dividend and a dividend yield of 1.7%. Tractor Supply’s dividend payout ratio (DPR) is currently 45.10%.
Insider Activity
In other news, SVP Noni L. Ellison sold 5,200 shares of the firm’s stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $63.96, for a total transaction of $332,592.00. Following the completion of the sale, the senior vice president directly owned 28,639 shares in the company, valued at $1,831,750.44. This trade represents a 15.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kurt D. Barton sold 90,000 shares of the stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $63.96, for a total transaction of $5,756,400.00. Following the transaction, the chief financial officer directly owned 47,715 shares in the company, valued at $3,051,851.40. The trade was a 65.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,880 shares of company stock worth $6,479,104 over the last ninety days. Corporate insiders own 0.65% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on TSCO shares. Evercore ISI cut their target price on Tractor Supply from $65.00 to $60.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 7th. Loop Capital increased their target price on Tractor Supply from $48.00 to $60.00 and gave the stock a “hold” rating in a research report on Friday, July 25th. Wells Fargo & Company increased their target price on Tractor Supply from $63.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, July 25th. Robert W. Baird increased their price target on Tractor Supply from $56.00 to $61.00 and gave the company an “outperform” rating in a report on Monday, July 21st. Finally, Truist Financial increased their price target on Tractor Supply from $60.00 to $66.00 and gave the company a “buy” rating in a report on Friday, July 25th. Fifteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.45.
Read Our Latest Analysis on TSCO
About Tractor Supply
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.
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