Fifth Third Wealth Advisors LLC Grows Holdings in Tractor Supply (NASDAQ:TSCO)

Fifth Third Wealth Advisors LLC grew its position in Tractor Supply (NASDAQ:TSCO) by 75.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,729 shares of the specialty retailer’s stock after purchasing an additional 746 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Tractor Supply were worth $467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of 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. Capital International Investors increased its holdings in Tractor Supply by 7.6% in the 4th quarter. Capital International Investors now owns 6,233,852 shares of the specialty retailer’s stock valued at $1,340,589,000 after acquiring an additional 439,954 shares during the last quarter. Capital World Investors increased its holdings in Tractor Supply by 10.0% in the 4th quarter. Capital World Investors now owns 5,849,188 shares of the specialty retailer’s stock valued at $1,257,751,000 after acquiring an additional 531,170 shares during the last quarter. Wellington Management Group LLP lifted its stake in Tractor Supply by 63.2% in the 4th quarter. Wellington Management Group LLP now owns 4,606,455 shares of the specialty retailer’s stock worth $990,526,000 after purchasing an additional 1,784,304 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of 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 valued at $871,691,000 after purchasing an additional 368,859 shares in the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Matthew L. Rubin sold 540 shares of Tractor Supply stock in a transaction on Monday, August 12th. The stock was sold at an average price of $262.35, for a total value of $141,669.00. Following the transaction, the senior vice president now directly owns 5,170 shares in the company, valued at approximately $1,356,349.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.24% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TSCO. Barclays increased their target price on Tractor Supply from $234.00 to $240.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Mizuho reiterated a “neutral” rating and issued a $250.00 price target (up previously from $245.00) on shares of Tractor Supply in a research report on Friday, April 26th. Raymond James raised their price objective on Tractor Supply from $250.00 to $285.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Evercore ISI cut their target price on Tractor Supply from $290.00 to $280.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Finally, Benchmark restated a “buy” rating and issued a $280.00 price target on shares of Tractor Supply in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $256.58.

Tractor Supply Stock Down 0.5 %

Shares of TSCO traded down $1.29 during midday trading on Thursday, reaching $266.32. 49,506 shares of the stock were exchanged, compared to its average volume of 1,104,386. The company has a market capitalization of $28.73 billion, a P/E ratio of 26.03, a PEG ratio of 3.31 and a beta of 0.81. The company has a current ratio of 1.43, a quick ratio of 0.25 and a debt-to-equity ratio of 0.76. Tractor Supply has a 52 week low of $185.00 and a 52 week high of $290.38. The company’s 50 day moving average is $267.21 and its two-hundred day moving average is $261.72.

Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $3.93. The company had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.28 billion. Tractor Supply had a net margin of 7.65% and a return on equity of 51.84%. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the business earned $3.83 EPS. On average, sell-side analysts anticipate that Tractor Supply will post 10.23 earnings per share for the current year.

Tractor Supply Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 26th will be issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend is Monday, August 26th. Tractor Supply’s payout ratio 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.