Ascent Group LLC Makes New Investment in Tractor Supply (NASDAQ:TSCO)

Ascent Group LLC purchased a new stake in Tractor Supply (NASDAQ:TSCO) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,865 shares of the specialty retailer’s stock, valued at approximately $2,320,000.

Other institutional investors also recently bought and sold shares of the company. Mutual Advisors LLC increased its stake in Tractor Supply by 19.5% during the fourth quarter. Mutual Advisors LLC now owns 2,088 shares of the specialty retailer’s stock worth $449,000 after acquiring an additional 340 shares during the last quarter. Pacer Advisors Inc. increased its position in Tractor Supply by 15.8% in the 4th quarter. Pacer Advisors Inc. now owns 8,252 shares of the specialty retailer’s stock valued at $1,774,000 after acquiring an additional 1,126 shares during the period. Assenagon Asset Management S.A. increased its position in Tractor Supply by 744.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 36,656 shares of the specialty retailer’s stock valued at $7,882,000 after acquiring an additional 32,316 shares during the period. PFG Investments LLC increased its position in Tractor Supply by 30.3% in the 4th quarter. PFG Investments LLC now owns 1,607 shares of the specialty retailer’s stock valued at $346,000 after acquiring an additional 374 shares during the period. Finally, Blue Trust Inc. increased its position in Tractor Supply by 112.0% in the 4th quarter. Blue Trust Inc. now owns 390 shares of the specialty retailer’s stock valued at $79,000 after acquiring an additional 206 shares during the period. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TSCO shares. Wells Fargo & Company raised their price objective on Tractor Supply from $285.00 to $295.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. Barclays raised their target price on Tractor Supply from $234.00 to $240.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. TD Cowen raised their price target on Tractor Supply from $250.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Truist Financial lifted their target price on Tractor Supply from $289.00 to $293.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Wedbush reaffirmed a “neutral” rating and set a $270.00 price objective on shares of Tractor Supply in a report on Friday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Tractor Supply currently has an average rating of “Hold” and an average target price of $256.58.

Tractor Supply Stock Up 1.0 %

Tractor Supply stock traded up $2.56 during trading hours on Monday, hitting $265.08. The stock had a trading volume of 719,646 shares, compared to its average volume of 1,151,922. The company has a quick ratio of 0.25, a current ratio of 1.43 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $28.58 billion, a P/E ratio of 25.81, a price-to-earnings-growth ratio of 3.43 and a beta of 0.81. Tractor Supply has a 12-month low of $185.00 and a 12-month high of $290.38. The stock’s 50-day moving average price is $273.11 and its 200-day moving average price is $258.06.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $3.93. Tractor Supply had a net margin of 7.65% and a return on equity of 51.84%. The company had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.28 billion. During the same period in the previous year, the business posted $3.83 earnings per share. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. Equities research analysts anticipate that Tractor Supply will post 10.29 EPS for the current fiscal year.

Tractor Supply Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 28th were issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date was Friday, May 24th. Tractor Supply’s payout ratio is presently 42.84%.

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.