Wealthfront Advisers LLC lessened its holdings in Tractor Supply (NASDAQ:TSCO – Get Rating) by 35.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,386 shares of the specialty retailer's stock after selling 9,393 shares during the period. Wealthfront Advisers LLC's holdings in Tractor Supply were worth $3,370,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. New England Professional Planning Group Inc. bought a new stake in shares of Tractor Supply during the first quarter worth about $239,000. BDO Wealth Advisors LLC grew its holdings in shares of Tractor Supply by 78.1% during the first quarter. BDO Wealth Advisors LLC now owns 114 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 50 shares during the last quarter. Fortitude Advisory Group L.L.C. grew its holdings in shares of Tractor Supply by 350.0% during the first quarter. Fortitude Advisory Group L.L.C. now owns 126 shares of the specialty retailer's stock worth $29,000 after purchasing an additional 98 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Tractor Supply by 272.2% during the first quarter. Allworth Financial LP now owns 134 shares of the specialty retailer's stock worth $31,000 after purchasing an additional 98 shares during the last quarter. Finally, Financial Management Professionals Inc. grew its holdings in shares of Tractor Supply by 278.4% during the first quarter. Financial Management Professionals Inc. now owns 140 shares of the specialty retailer's stock worth $33,000 after purchasing an additional 103 shares during the last quarter. Institutional investors own 82.86% of the company's stock.
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Tractor Supply Price Performance
Shares of TSCO opened at $185.88 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.33 and a current ratio of 1.44. Tractor Supply has a 52-week low of $166.49 and a 52-week high of $241.54. The business's 50 day moving average price is $192.68 and its two-hundred day moving average price is $201.73. The firm has a market cap of $20.63 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 1.91 and a beta of 0.91.
Tractor Supply (NASDAQ:TSCO – Get Rating) last issued its earnings results on Thursday, July 21st. The specialty retailer reported $3.53 earnings per share for the quarter, hitting analysts' consensus estimates of $3.53. Tractor Supply had a return on equity of 53.29% and a net
margin of 7.76%. The company had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same period in the prior year, the firm earned $3.19 earnings per share. Tractor Supply's revenue for the quarter was up 8.4% on a year-over-year basis. On average, equities analysts anticipate that Tractor Supply will post 9.58 EPS for the current year.
Tractor Supply Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 7th. Stockholders of record on Monday, August 22nd were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend was Friday, August 19th. Tractor Supply's payout ratio is 40.62%.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on TSCO shares. Bank of America upgraded Tractor Supply from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $250.00 to $260.00 in a report on Tuesday, June 14th. Piper Sandler set a $253.00 target price on Tractor Supply in a report on Tuesday, July 19th. Truist Financial upped their target price on Tractor Supply from $246.00 to $252.00 and gave the company a "buy" rating in a report on Friday, July 22nd. Guggenheim reduced their target price on Tractor Supply to $225.00 in a report on Friday, July 22nd. Finally, Morgan Stanley upped their target price on Tractor Supply from $220.00 to $225.00 and gave the company an "equal weight" rating in a report on Thursday, August 18th. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $240.79.
About Tractor Supply
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Tractor Supply Company operates as a rural lifestyle retailer in the United States. The company offers a selection of merchandise, including equine, livestock, pet, and small animal products necessary for their health, care, growth, and containment; hardware, truck, towing, and tool products; seasonal products, such as heating products, lawn and garden items, power equipment, gifts, and toys; work/recreational clothing and footwear; and maintenance products for agricultural and rural use.
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