NewEdge Advisors LLC Boosts Position in Tractor Supply (NASDAQ:TSCO)

NewEdge Advisors LLC raised its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 5.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 152,439 shares of the specialty retailer’s stock after buying an additional 7,589 shares during the period. NewEdge Advisors LLC’s holdings in Tractor Supply were worth $41,158,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TSCO. Signature Wealth Management Group boosted its stake in shares of Tractor Supply by 0.5% in the second quarter. Signature Wealth Management Group now owns 6,999 shares of the specialty retailer’s stock valued at $1,890,000 after purchasing an additional 38 shares during the period. X Square Capital LLC boosted its position in Tractor Supply by 1.6% in the 2nd quarter. X Square Capital LLC now owns 2,579 shares of the specialty retailer’s stock valued at $696,000 after buying an additional 41 shares during the last quarter. Eads & Heald Wealth Management grew its stake in shares of Tractor Supply by 0.6% during the second quarter. Eads & Heald Wealth Management now owns 7,040 shares of the specialty retailer’s stock valued at $1,901,000 after acquiring an additional 42 shares in the last quarter. Whittier Trust Co. increased its position in shares of Tractor Supply by 60.9% during the second quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock worth $30,000 after acquiring an additional 42 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Tractor Supply by 1.2% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,464 shares of the specialty retailer’s stock worth $935,000 after acquiring an additional 42 shares in the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Evercore ISI lowered their price objective on Tractor Supply from $290.00 to $280.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Benchmark restated a “buy” rating and issued a $280.00 price target on shares of Tractor Supply in a research note on Friday, July 26th. Loop Capital increased their price objective on shares of Tractor Supply from $250.00 to $260.00 and gave the company a “hold” rating in a research note on Friday, September 6th. Wedbush reissued a “neutral” rating and issued a $270.00 target price on shares of Tractor Supply in a research report on Friday, July 26th. Finally, Melius Research began coverage on shares of Tractor Supply in a research report on Monday, September 23rd. They set a “buy” rating and a $315.00 price target on the stock. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $259.92.

Tractor Supply Stock Performance

TSCO opened at $286.14 on Friday. The business’s 50 day moving average is $268.74 and its 200-day moving average is $267.87. The company has a current ratio of 1.43, a quick ratio of 0.25 and a debt-to-equity ratio of 0.76. The stock has a market cap of $30.85 billion, a PE ratio of 27.86, a price-to-earnings-growth ratio of 3.49 and a beta of 0.80. Tractor Supply has a twelve month low of $185.00 and a twelve month high of $290.38.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $3.93. The business had revenue of $4.25 billion for 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 company’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the business earned $3.83 earnings per share. On average, analysts predict that Tractor Supply will post 10.23 earnings per share for the current year.

Tractor Supply Announces Dividend

The business 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. This represents a $4.40 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend was Monday, August 26th. Tractor Supply’s dividend payout ratio (DPR) is presently 42.84%.

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.