Griffin Asset Management Inc. Increases Holdings in Tractor Supply (NASDAQ:TSCO)

Griffin Asset Management Inc. increased its position in Tractor Supply (NASDAQ:TSCO) by 2.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,792 shares of the specialty retailer’s stock after buying an additional 75 shares during the quarter. Griffin Asset Management Inc.’s holdings in Tractor Supply were worth $731,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of TSCO. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Tractor Supply during the 3rd quarter valued at $407,000. Natixis Advisors L.P. lifted its stake in shares of Tractor Supply by 8.7% in the 3rd quarter. Natixis Advisors L.P. now owns 55,947 shares of the specialty retailer’s stock valued at $11,360,000 after acquiring an additional 4,469 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake in shares of Tractor Supply by 72.0% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 6,942 shares of the specialty retailer’s stock valued at $1,410,000 after acquiring an additional 2,907 shares during the last quarter. Bank of Nova Scotia boosted its holdings in Tractor Supply by 13.0% during the 3rd quarter. Bank of Nova Scotia now owns 12,133 shares of the specialty retailer’s stock valued at $2,464,000 after acquiring an additional 1,395 shares during the period. Finally, Toronto Dominion Bank grew its position in Tractor Supply by 1.5% during the 3rd quarter. Toronto Dominion Bank now owns 55,824 shares of the specialty retailer’s stock worth $11,335,000 after acquiring an additional 830 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TSCO has been the subject of several recent research reports. Benchmark reiterated a “buy” rating and issued a $256.00 price objective on shares of Tractor Supply in a research report on Monday, April 22nd. Raymond James increased their price target on shares of Tractor Supply from $250.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Evercore ISI boosted their price objective on shares of Tractor Supply from $290.00 to $295.00 and gave the company an “outperform” rating in a research report on Thursday, June 20th. Wells Fargo & Company increased their target price on shares of Tractor Supply from $250.00 to $285.00 and gave the stock an “overweight” rating in a report on Monday, March 25th. Finally, Morgan Stanley raised their target price on Tractor Supply from $195.00 to $235.00 and gave the stock an “underweight” rating in a research note on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $254.17.

Tractor Supply Stock Up 0.9 %

Shares of Tractor Supply stock opened at $270.00 on Friday. Tractor Supply has a 1 year low of $185.00 and a 1 year high of $290.38. The firm has a market cap of $29.11 billion, a price-to-earnings ratio of 26.29, a PEG ratio of 3.51 and a beta of 0.83. The company has a 50-day moving average of $274.91 and a 200 day moving average of $250.42. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.40 and a quick ratio of 0.19.

Tractor Supply (NASDAQ:TSCO) last released its earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.13. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.40 billion. During the same period last year, the business earned $1.65 earnings per share. The business’s revenue was up 2.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Tractor Supply will post 10.34 earnings per share for the current fiscal year.

Tractor Supply Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 28th were issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend was Friday, May 24th. Tractor Supply’s dividend payout ratio (DPR) is 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.