Park Place Capital Corp Trims Stake in Tractor Supply (NASDAQ:TSCO)

Park Place Capital Corp reduced its position in Tractor Supply (NASDAQ:TSCO) by 46.8% during the first quarter, HoldingsChannel.com reports. The firm owned 184 shares of the specialty retailer’s stock after selling 162 shares during the period. Park Place Capital Corp’s holdings in Tractor Supply were worth $48,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TSCO. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Tractor Supply in the 3rd quarter worth about $407,000. Bank of Nova Scotia increased its position in shares of Tractor Supply by 13.0% during the third quarter. Bank of Nova Scotia now owns 12,133 shares of the specialty retailer’s stock worth $2,464,000 after acquiring an additional 1,395 shares during the period. AQR Capital Management LLC increased its position in shares of Tractor Supply by 14.8% during the third quarter. AQR Capital Management LLC now owns 25,162 shares of the specialty retailer’s stock worth $5,109,000 after acquiring an additional 3,251 shares during the period. Advisors Asset Management Inc. increased its position in shares of Tractor Supply by 11.1% during the third quarter. Advisors Asset Management Inc. now owns 25,458 shares of the specialty retailer’s stock worth $5,169,000 after acquiring an additional 2,548 shares during the period. Finally, Axxcess Wealth Management LLC increased its position in shares of Tractor Supply by 14.3% during the third quarter. Axxcess Wealth Management LLC now owns 10,324 shares of the specialty retailer’s stock worth $2,096,000 after acquiring an additional 1,293 shares during the period. 98.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on TSCO shares. Raymond James raised their target price on shares of Tractor Supply from $250.00 to $285.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Piper Sandler raised their target price on shares of Tractor Supply from $265.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. JPMorgan Chase & Co. raised their target price on shares of Tractor Supply from $241.00 to $263.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Telsey Advisory Group raised their target price on shares of Tractor Supply from $280.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Finally, Wedbush reiterated a “neutral” rating and set a $235.00 price objective on shares of Tractor Supply in a research note on Tuesday, April 23rd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Tractor Supply currently has an average rating of “Hold” and an average price target of $254.17.

Tractor Supply Trading Down 0.8 %

NASDAQ TSCO opened at $267.74 on Tuesday. The company has a fifty day simple moving average of $275.20 and a two-hundred day simple moving average of $250.94. The stock has a market cap of $28.87 billion, a P/E ratio of 26.07, a P/E/G ratio of 3.51 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 company has a current ratio of 1.40, a quick ratio of 0.19 and a debt-to-equity ratio of 0.83.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.13. The business had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.40 billion. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the company posted $1.65 earnings per share. On average, analysts forecast that Tractor Supply will post 10.34 earnings per share for the current year.

Tractor Supply Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 28th were issued a $1.10 dividend. The ex-dividend date of this dividend was Friday, May 24th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.64%. Tractor Supply’s dividend payout ratio is currently 42.84%.

About Tractor Supply

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.