MBB Public Markets I LLC Takes Position in Tractor Supply (NASDAQ:TSCO)

MBB Public Markets I LLC purchased a new position in shares of Tractor Supply (NASDAQ:TSCO) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 7,565 shares of the specialty retailer’s stock, valued at approximately $2,043,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TSCO. Wellington Management Group LLP lifted 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 worth $990,526,000 after acquiring an additional 1,784,304 shares during the period. Capital World Investors raised its holdings in Tractor Supply by 10.0% during the fourth quarter. Capital World Investors now owns 5,849,188 shares of the specialty retailer’s stock worth $1,257,751,000 after purchasing an additional 531,170 shares in the last quarter. Capital International Investors lifted 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 valued at $1,340,589,000 after purchasing an additional 439,954 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Tractor Supply by 12.5% in the 1st 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. Finally, Marshall Wace LLP lifted its holdings in shares of Tractor Supply by 2,921.4% in the 2nd quarter. Marshall Wace LLP now owns 357,225 shares of the specialty retailer’s stock valued at $96,451,000 after buying an additional 345,402 shares during the period. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Tractor Supply Price Performance

TSCO opened at $286.14 on Monday. Tractor Supply has a 1 year low of $185.00 and a 1 year high of $290.38. The company’s 50 day simple moving average is $268.74 and its 200 day simple moving average is $267.97. The stock has a market capitalization of $30.85 billion, a PE ratio of 27.86, a P/E/G ratio of 3.49 and a beta of 0.80. 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 (NASDAQ:TSCO) last announced its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $3.93. The company had revenue of $4.25 billion during 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 business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the company earned $3.83 EPS. As a group, sell-side analysts expect that Tractor Supply will post 10.23 EPS for the current year.

Tractor Supply Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were issued 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 1.54%. Tractor Supply’s dividend payout ratio (DPR) is 42.84%.

Insider Activity

In other news, SVP Matthew L. Rubin sold 540 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $262.35, for a total transaction of $141,669.00. Following the completion of the sale, the senior vice president now 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 can be accessed through the SEC website. Corporate insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

TSCO has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their price objective on Tractor Supply from $285.00 to $295.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. Telsey Advisory Group reaffirmed an “outperform” rating and set a $305.00 price target on shares of Tractor Supply in a research note on Thursday, July 25th. Melius Research initiated coverage on shares of Tractor Supply in a research note on Monday, September 23rd. They issued a “buy” rating and a $315.00 price objective for the company. Benchmark restated a “buy” rating and set a $280.00 target price on shares of Tractor Supply in a research report on Friday, July 26th. Finally, Truist Financial lifted their price target on shares of Tractor Supply from $289.00 to $293.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $260.83.

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.