Sunbelt Securities Inc. Raises Stock Holdings in Tractor Supply (NASDAQ:TSCO)

Sunbelt Securities Inc. grew its stake in shares of Tractor Supply (NASDAQ:TSCO) by 5.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,874 shares of the specialty retailer’s stock after acquiring an additional 206 shares during the period. Sunbelt Securities Inc.’s holdings in Tractor Supply were worth $1,046,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP increased its position in shares of Tractor Supply by 63.2% during the fourth 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 during the period. Capital World Investors boosted its holdings in shares of 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 during the period. Capital International Investors lifted its stake 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 acquiring 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 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 acquiring an additional 368,859 shares in the last quarter. Finally, Marshall Wace LLP increased its position in shares of Tractor Supply by 2,921.4% during the second 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. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Insider Buying and Selling at Tractor Supply

In related news, SVP Matthew L. Rubin sold 540 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $262.35, for a total transaction of $141,669.00. Following the sale, the senior vice president now owns 5,170 shares of the company’s stock, valued at $1,356,349.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.24% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TSCO. Evercore ISI dropped their price target on shares of Tractor Supply from $290.00 to $280.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. 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 research note on Monday, July 22nd. Melius Research started coverage on shares of Tractor Supply in a report on Monday, September 23rd. They issued a “buy” rating and a $315.00 target price for the company. Wedbush reaffirmed a “neutral” rating and issued a $270.00 price objective on shares of Tractor Supply in a research note on Friday, July 26th. Finally, Truist Financial increased their price objective on shares of Tractor Supply from $289.00 to $293.00 and gave the company a “buy” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $260.83.

Tractor Supply Stock Performance

Shares of TSCO stock opened at $290.93 on Tuesday. The company has a quick ratio of 0.25, a current ratio of 1.43 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $31.38 billion, a PE ratio of 28.33, a P/E/G ratio of 3.59 and a beta of 0.80. The firm has a 50 day moving average of $269.14 and a two-hundred day moving average of $268.24. Tractor Supply has a 52 week low of $185.00 and a 52 week high of $291.52.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings results on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share for the quarter, meeting analysts’ consensus estimates 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 previous year, the business earned $3.83 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, research analysts predict that Tractor Supply will post 10.23 EPS for the current fiscal year.

Tractor Supply Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were given a dividend of $1.10 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $4.40 dividend on an annualized basis and a yield of 1.51%. 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.