Connor Clark & Lunn Investment Management Ltd. Acquires 17,450 Shares of Tractor Supply (NASDAQ:TSCO)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Tractor Supply (NASDAQ:TSCO) by 1,674.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,492 shares of the specialty retailer’s stock after buying an additional 17,450 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Tractor Supply were worth $5,380,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TSCO. MWA Asset Management raised its position in Tractor Supply by 1.7% in the 3rd quarter. MWA Asset Management now owns 4,131 shares of the specialty retailer’s stock worth $1,202,000 after purchasing an additional 68 shares during the last quarter. Strategy Asset Managers LLC raised its position in shares of Tractor Supply by 5.4% during the third quarter. Strategy Asset Managers LLC now owns 1,198 shares of the specialty retailer’s stock worth $348,000 after acquiring an additional 61 shares during the last quarter. Prospera Private Wealth LLC acquired a new position in shares of Tractor Supply during the third quarter valued at $3,398,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Tractor Supply during the third quarter valued at $3,866,000. Finally, Banque Cantonale Vaudoise boosted its holdings in Tractor Supply by 9.7% in the third quarter. Banque Cantonale Vaudoise now owns 11,205 shares of the specialty retailer’s stock valued at $3,260,000 after acquiring an additional 987 shares during the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Insider Activity at Tractor Supply

In other news, CFO Kurt D. Barton sold 23,532 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $295.64, for a total transaction of $6,957,000.48. Following the completion of the transaction, the chief financial officer now directly owns 9,683 shares in the company, valued at $2,862,682.12. This represents a 70.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.24% of the stock is owned by insiders.

Tractor Supply Trading Up 3.0 %

NASDAQ TSCO opened at $281.71 on Friday. The stock has a market capitalization of $30.10 billion, a price-to-earnings ratio of 27.40, a PEG ratio of 3.43 and a beta of 0.82. Tractor Supply has a 52 week low of $197.00 and a 52 week high of $307.64. The stock’s 50 day moving average price is $284.18 and its two-hundred day moving average price is $275.51. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Monday, November 25th. Tractor Supply’s payout ratio is 42.80%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Tractor Supply from $260.00 to $290.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Truist Financial cut their price objective on shares of Tractor Supply from $325.00 to $317.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Melius Research initiated coverage on shares of Tractor Supply in a report on Monday, September 23rd. They set a “buy” rating and a $315.00 target price for the company. DA Davidson increased their price target on Tractor Supply from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $335.00 price target on shares of Tractor Supply in a research report on Thursday, October 24th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $282.82.

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.