Provident Trust Co. lifted its holdings in Tractor Supply Company (NASDAQ:TSCO – Free Report) by 0.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 2,376,838 shares of the specialty retailer’s stock after buying an additional 19,786 shares during the quarter. Tractor Supply makes up 1.6% of Provident Trust Co.’s portfolio, making the stock its 13th biggest position. Provident Trust Co. owned approximately 0.45% of Tractor Supply worth $75,132,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the business. Garner Asset Management Corp acquired a new stake in Tractor Supply during the fourth quarter worth about $25,000. Elevation Wealth Partners LLC grew its holdings in shares of Tractor Supply by 1,253.4% during the second quarter. Elevation Wealth Partners LLC now owns 785 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 727 shares during the last quarter. Reflection Asset Management acquired a new stake in shares of Tractor Supply during the 4th quarter worth approximately $26,000. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Tractor Supply in the 2nd quarter worth approximately $26,000. Finally, Core Wealth Advisors LLC acquired a new position in Tractor Supply during the 4th quarter valued at approximately $27,000. 98.72% of the stock is owned by institutional investors and hedge funds.
Tractor Supply Stock Up 0.1%
TSCO opened at $34.72 on Friday. The stock’s 50 day moving average price is $32.31 and its 200 day moving average price is $38.02. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.33 and a quick ratio of 0.23. The stock has a market cap of $18.21 billion, a P/E ratio of 18.08, a P/E/G ratio of 11.29 and a beta of 0.47. Tractor Supply Company has a 12 month low of $28.36 and a 12 month high of $62.87.
Tractor Supply Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 24th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a $0.96 annualized dividend and a yield of 2.8%. Tractor Supply’s dividend payout ratio is presently 50.00%.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on TSCO shares. Loop Capital lowered their price objective on Tractor Supply from $41.00 to $35.00 and set a “hold” rating for the company in a research note on Tuesday, June 16th. Morgan Stanley reiterated a “negative” rating and issued a $35.00 target price on shares of Tractor Supply in a research note on Friday, July 24th. Wolfe Research set a $34.00 price target on shares of Tractor Supply in a report on Thursday, July 16th. Weiss Ratings upgraded shares of Tractor Supply from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday. Finally, Raymond James Financial dropped their price objective on shares of Tractor Supply from $48.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday, July 17th. Thirteen investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $39.31.
Read Our Latest Analysis on Tractor Supply
Insider Activity at Tractor Supply
In related news, Director Andre J. Hawaux acquired 3,150 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was acquired at an average cost of $31.83 per share, for a total transaction of $100,264.50. Following the completion of the acquisition, the director directly owned 3,150 shares of the company’s stock, valued at approximately $100,264.50. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Edna Morris acquired 1,560 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were bought at an average price of $32.44 per share, for a total transaction of $50,606.40. Following the purchase, the director directly owned 279,720 shares of the company’s stock, valued at approximately $9,074,116.80. This trade represents a 0.56% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 20,310 shares of company stock worth $652,411 in the last 90 days. Corporate insiders own 0.64% of the company’s stock.
Tractor Supply Profile
Tractor Supply Company (NASDAQ: TSCO) is a specialty retailer focused on products for the home, farm, ranch and outdoors. The company operates a network of physical retail locations complemented by an e-commerce platform, offering a one-stop source of supplies and equipment for customers with rural and suburban lifestyles. Its merchandise assortment targets a range of needs, from animal and livestock care to maintenance, outdoor power equipment, and seasonal products.
Product categories include animal feed and supplies, pet products, fencing and fencing supplies, equine equipment, lawn and garden tools, work clothing and footwear, and small agricultural and outdoor power equipment.
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