Frank Rimerman Advisors LLC Invests $389,000 in Tractor Supply (NASDAQ:TSCO)

Frank Rimerman Advisors LLC bought a new stake in Tractor Supply (NASDAQ:TSCO) in the second quarter, Holdings Channel reports. The institutional investor bought 1,442 shares of the specialty retailer’s stock, valued at approximately $389,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TSCO. Wellington Management Group LLP raised its stake in shares of 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 valued at $990,526,000 after buying an additional 1,784,304 shares in the last quarter. Capital World Investors increased its stake in Tractor Supply by 10.0% in the fourth 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 period. Capital International Investors raised its position in Tractor Supply by 7.6% in the fourth quarter. Capital International Investors now owns 6,233,852 shares of the specialty retailer’s stock worth $1,340,589,000 after purchasing an additional 439,954 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake 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 during the period. Finally, Clearbridge Investments LLC lifted its stake in Tractor Supply by 11,952.8% during the first quarter. Clearbridge Investments LLC now owns 241,177 shares of the specialty retailer’s stock worth $63,121,000 after purchasing an additional 239,176 shares during the period. 98.72% of the stock is owned by institutional investors.

Tractor Supply Price Performance

Shares of TSCO stock opened at $277.57 on Wednesday. The firm’s 50 day moving average price is $268.04 and its two-hundred day moving average price is $267.27. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.25 and a current ratio of 1.43. Tractor Supply has a 52-week low of $185.00 and a 52-week high of $290.38. The stock has a market cap of $29.94 billion, a PE ratio of 27.03, a PEG ratio of 3.48 and a beta of 0.80.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $3.93 EPS for the quarter, hitting analysts’ consensus estimates of $3.93. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. The business had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $4.28 billion. During the same period in the previous year, the firm earned $3.83 earnings per share. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, analysts forecast that Tractor Supply will post 10.23 EPS for the current year.

Tractor Supply Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were given a $1.10 dividend. The ex-dividend date was Monday, August 26th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.59%. Tractor Supply’s dividend payout ratio is 42.84%.

Insider Buying and Selling

In other Tractor Supply news, SVP Matthew L. Rubin sold 540 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $262.35, for a total value of $141,669.00. Following the completion of the sale, the senior vice president now owns 5,170 shares of the company’s stock, valued at $1,356,349.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TSCO has been the subject of a number of recent research reports. Loop Capital increased their target price on Tractor Supply from $250.00 to $260.00 and gave the stock a “hold” rating in a report on Friday, September 6th. Benchmark reissued a “buy” rating and set a $280.00 price objective on shares of Tractor Supply in a report on Friday, July 26th. Wedbush reaffirmed a “neutral” rating and issued a $270.00 target price on shares of Tractor Supply in a report on Friday, July 26th. Wells Fargo & Company increased their target price on shares of Tractor Supply from $285.00 to $295.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. Finally, Melius Research began coverage on shares of Tractor Supply in a research note on Monday. They set a “buy” rating and a $315.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $258.96.

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.