AMF Tjanstepension AB raised its position in Tractor Supply Company (NASDAQ:TSCO – Free Report) by 61.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 353,623 shares of the specialty retailer’s stock after purchasing an additional 134,758 shares during the period. AMF Tjanstepension AB owned about 0.07% of Tractor Supply worth $18,668,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of TSCO. APG Asset Management N.V. boosted its position in Tractor Supply by 33.3% during the first quarter. APG Asset Management N.V. now owns 475,484 shares of the specialty retailer’s stock worth $24,254,000 after acquiring an additional 118,884 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Tractor Supply by 19.4% during the first quarter. Ameriprise Financial Inc. now owns 2,064,224 shares of the specialty retailer’s stock worth $113,745,000 after purchasing an additional 335,563 shares during the last quarter. Bahl & Gaynor Inc. boosted its holdings in shares of Tractor Supply by 31.0% during the first quarter. Bahl & Gaynor Inc. now owns 177,636 shares of the specialty retailer’s stock worth $9,788,000 after purchasing an additional 41,989 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Tractor Supply by 7.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 70,944 shares of the specialty retailer’s stock valued at $3,911,000 after purchasing an additional 5,184 shares during the period. Finally, Sowell Financial Services LLC increased its stake in Tractor Supply by 49.3% in the first quarter. Sowell Financial Services LLC now owns 20,029 shares of the specialty retailer’s stock valued at $1,104,000 after purchasing an additional 6,612 shares during the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.
Tractor Supply Stock Performance
NASDAQ:TSCO opened at $55.83 on Friday. Tractor Supply Company has a twelve month low of $46.85 and a twelve month high of $63.99. The firm has a market capitalization of $29.59 billion, a price-to-earnings ratio of 27.39, a PEG ratio of 2.88 and a beta of 0.73. The company has a current ratio of 1.28, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The firm’s fifty day simple moving average is $59.45 and its 200 day simple moving average is $54.87.
Tractor Supply Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Monday, August 25th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Monday, August 25th. Tractor Supply’s dividend payout ratio is currently 45.10%.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on TSCO. The Goldman Sachs Group reissued a “buy” rating on shares of Tractor Supply in a research note on Friday, July 25th. Loop Capital increased their price objective on shares of Tractor Supply from $48.00 to $60.00 and gave the stock a “hold” rating in a report on Friday, July 25th. Raymond James Financial restated an “outperform” rating and issued a $65.00 target price (up from $57.00) on shares of Tractor Supply in a report on Friday, July 25th. Robert W. Baird upped their price target on shares of Tractor Supply from $56.00 to $61.00 and gave the stock an “outperform” rating in a research report on Monday, July 21st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Tractor Supply in a research note on Saturday, September 27th. Fourteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $62.15.
Check Out Our Latest Research Report on TSCO
Insider Buying and Selling
In other news, CFO Kurt D. Barton sold 90,000 shares of Tractor Supply stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $63.96, for a total transaction of $5,756,400.00. Following the sale, the chief financial officer owned 47,715 shares in the company, valued at $3,051,851.40. This trade represents a 65.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Colin Yankee sold 6,680 shares of the business’s stock in a transaction on Monday, July 28th. The stock was sold at an average price of $58.40, for a total transaction of $390,112.00. Following the transaction, the executive vice president directly owned 40,142 shares in the company, valued at approximately $2,344,292.80. The trade was a 14.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 146,500 shares of company stock valued at $8,984,912 over the last three months. Company insiders own 0.65% of the company’s stock.
Tractor Supply Company 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.
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