Griffin Asset Management Inc. Boosts Position in Tractor Supply (NASDAQ:TSCO)

Griffin Asset Management Inc. boosted its position in shares of Tractor Supply (NASDAQ:TSCO) by 8.5% during the third quarter, Holdings Channel reports. The firm owned 3,392 shares of the specialty retailer’s stock after buying an additional 265 shares during the quarter. Griffin Asset Management Inc.’s holdings in Tractor Supply were worth $987,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Tractor Supply by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 12,804,873 shares of the specialty retailer’s stock worth $2,753,432,000 after purchasing an additional 48,439 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Tractor Supply by 12.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,330,621 shares of the specialty retailer’s stock worth $871,691,000 after purchasing an additional 368,859 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Tractor Supply by 10.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,123,280 shares of the specialty retailer’s stock worth $303,278,000 after purchasing an additional 110,342 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Tractor Supply by 4.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 800,463 shares of the specialty retailer’s stock worth $216,125,000 after purchasing an additional 37,071 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its position in Tractor Supply by 67.4% during the second quarter. Clearbridge Investments LLC now owns 403,710 shares of the specialty retailer’s stock worth $109,002,000 after purchasing an additional 162,533 shares in the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TSCO. Citigroup upgraded Tractor Supply from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Truist Financial upped their price objective on Tractor Supply from $293.00 to $325.00 and gave the company a “buy” rating in a research report on Monday. Evercore ISI downgraded Tractor Supply from an “outperform” rating to an “in-line” rating and set a $300.00 price objective on the stock. in a research report on Thursday, October 3rd. Wedbush restated a “neutral” rating and issued a $270.00 price objective on shares of Tractor Supply in a research report on Friday, July 26th. Finally, Wells Fargo & Company upped their price objective on Tractor Supply from $295.00 to $325.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $268.32.

Insider Transactions at Tractor Supply

In other news, CFO Kurt D. Barton sold 23,532 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $295.64, for a total value of $6,957,000.48. Following the completion of the sale, the chief financial officer now owns 9,683 shares of the company’s stock, valued at $2,862,682.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Matthew L. Rubin sold 540 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $262.35, for a total transaction of $141,669.00. Following the completion of the sale, the senior vice president now directly owns 5,170 shares of the company’s stock, valued at approximately $1,356,349.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kurt D. Barton sold 23,532 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $295.64, for a total transaction of $6,957,000.48. Following the sale, the chief financial officer now directly owns 9,683 shares of the company’s stock, valued at approximately $2,862,682.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

Tractor Supply Price Performance

Tractor Supply stock opened at $300.82 on Wednesday. Tractor Supply has a 52-week low of $185.00 and a 52-week high of $307.64. The firm has a fifty day moving average of $277.45 and a 200-day moving average of $271.25. The firm has a market capitalization of $32.43 billion, a P/E ratio of 29.29, a PEG ratio of 3.73 and a beta of 0.80. The company has a quick ratio of 0.25, a current ratio of 1.43 and a debt-to-equity ratio of 0.76.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share (EPS) for the quarter, hitting 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 quarter in the prior year, the business earned $3.83 earnings per share. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, analysts predict that Tractor Supply will post 10.23 EPS for the current year.

Tractor Supply Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were given a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend was Monday, August 26th. Tractor Supply’s payout ratio is currently 42.84%.

Tractor Supply 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.