Oppenheimer Asset Management Inc. Has $1.20 Million Stock Position in Tractor Supply (NASDAQ:TSCO)

Oppenheimer Asset Management Inc. raised its stake in Tractor Supply (NASDAQ:TSCO) by 34.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,109 shares of the specialty retailer’s stock after buying an additional 1,063 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Tractor Supply were worth $1,195,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Bahl & Gaynor Inc. bought a new position in shares of Tractor Supply during the first quarter valued at $220,000. O Shaughnessy Asset Management LLC raised its stake in shares of Tractor Supply by 18.6% during the first quarter. O Shaughnessy Asset Management LLC now owns 9,934 shares of the specialty retailer’s stock valued at $2,600,000 after acquiring an additional 1,557 shares during the last quarter. Clearbridge Investments LLC raised its stake in shares of Tractor Supply by 11,952.8% during the first quarter. Clearbridge Investments LLC now owns 241,177 shares of the specialty retailer’s stock valued at $63,121,000 after acquiring an additional 239,176 shares during the last quarter. UniSuper Management Pty Ltd raised its stake in shares of Tractor Supply by 351.1% during the first quarter. UniSuper Management Pty Ltd now owns 5,021 shares of the specialty retailer’s stock valued at $1,314,000 after acquiring an additional 3,908 shares during the last quarter. Finally, Lake Street Advisors Group LLC bought a new position in shares of Tractor Supply during the first quarter valued at $272,000. Institutional investors and hedge funds own 98.72% of the company’s stock.

Tractor Supply Stock Performance

Shares of TSCO stock opened at $276.82 on Tuesday. The firm has a market cap of $29.58 billion, a price-to-earnings ratio of 26.93, a P/E/G ratio of 3.46 and a beta of 0.82. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.17 and a current ratio of 1.48. Tractor Supply has a 52 week low of $193.73 and a 52 week high of $307.64. The firm’s 50-day simple moving average is $284.41 and its two-hundred day simple moving average is $275.42.

Tractor Supply Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be given a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Monday, November 25th. Tractor Supply’s dividend payout ratio (DPR) is currently 42.80%.

Analysts Set New Price Targets

Several research firms have recently issued reports on TSCO. Mizuho raised their price target on shares of Tractor Supply from $250.00 to $270.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Truist Financial lowered their target price on shares of Tractor Supply from $325.00 to $317.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Citigroup downgraded shares of Tractor Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 17th. Telsey Advisory Group reissued an “outperform” rating and set a $335.00 target price on shares of Tractor Supply in a research note on Thursday, October 24th. Finally, Benchmark lifted their target price on shares of Tractor Supply from $280.00 to $310.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $282.82.

Insider Activity

In other news, CFO Kurt D. Barton sold 23,532 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $295.64, for a total value of $6,957,000.48. Following the sale, the chief financial officer now owns 9,683 shares of the company’s stock, valued at $2,862,682.12. The trade was a 70.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.24% of the company’s stock.

About Tractor Supply

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.