TD Asset Management Inc Raises Stock Holdings in Tractor Supply (NASDAQ:TSCO)

TD Asset Management Inc grew its stake in Tractor Supply (NASDAQ:TSCO) by 0.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 121,851 shares of the specialty retailer’s stock after buying an additional 1,125 shares during the period. TD Asset Management Inc’s holdings in Tractor Supply were worth $32,900,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wedmont Private Capital increased its position in Tractor Supply by 3.6% in the first quarter. Wedmont Private Capital now owns 1,309 shares of the specialty retailer’s stock worth $331,000 after buying an additional 45 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its position in shares of Tractor Supply by 998.2% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 109,403 shares of the specialty retailer’s stock worth $23,525,000 after purchasing an additional 99,441 shares in the last quarter. Scotia Capital Inc. grew its position in shares of Tractor Supply by 792.9% during the fourth quarter. Scotia Capital Inc. now owns 19,438 shares of the specialty retailer’s stock worth $4,180,000 after purchasing an additional 17,261 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Tractor Supply by 527.7% during the second quarter. Assenagon Asset Management S.A. now owns 26,501 shares of the specialty retailer’s stock worth $7,155,000 after purchasing an additional 22,279 shares in the last quarter. Finally, 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. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Price Performance

NASDAQ:TSCO opened at $270.59 on Friday. The firm has a market capitalization of $29.19 billion, a price-to-earnings ratio of 26.35, a PEG ratio of 3.42 and a beta of 0.80. Tractor Supply has a 1 year low of $185.00 and a 1 year high of $290.38. The business has a 50 day simple moving average of $265.32 and a 200-day simple moving average of $264.71. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.43 and a quick ratio of 0.25.

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

Tractor Supply Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th will be issued a $1.10 dividend. The ex-dividend date of this dividend is Monday, August 26th. This represents a $4.40 annualized dividend and a dividend yield of 1.63%. Tractor Supply’s payout ratio is 42.84%.

Insider Transactions at Tractor Supply

In other news, SVP Matthew L. Rubin sold 540 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly owns 5,170 shares in the company, valued at $1,356,349.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

TSCO has been the subject of several research analyst reports. Wells Fargo & Company increased their target price on Tractor Supply from $285.00 to $295.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. Telsey Advisory Group reiterated an “outperform” rating and set a $305.00 target price on shares of Tractor Supply in a research report on Thursday, July 25th. Benchmark reiterated a “buy” rating and set a $280.00 target price on shares of Tractor Supply in a research report on Friday, July 26th. Loop Capital increased their target price on Tractor Supply from $250.00 to $260.00 and gave the stock a “hold” rating in a research report on Friday. Finally, Wedbush reissued a “neutral” rating and set a $270.00 price target on shares of Tractor Supply in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $256.72.

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.