Hennessy Advisors Inc. Takes $3.25 Million Position in Tractor Supply (NASDAQ:TSCO)

Hennessy Advisors Inc. bought a new stake in shares of Tractor Supply (NASDAQ:TSCO) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 12,400 shares of the specialty retailer’s stock, valued at approximately $3,245,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TSCO. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Tractor Supply in the 3rd quarter worth approximately $407,000. Natixis Advisors L.P. increased its position in shares of Tractor Supply by 8.7% during the 3rd quarter. Natixis Advisors L.P. now owns 55,947 shares of the specialty retailer’s stock valued at $11,360,000 after purchasing an additional 4,469 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of Tractor Supply by 72.0% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 6,942 shares of the specialty retailer’s stock valued at $1,410,000 after purchasing an additional 2,907 shares during the last quarter. Bank of Nova Scotia increased its position in shares of Tractor Supply by 13.0% during the 3rd quarter. Bank of Nova Scotia now owns 12,133 shares of the specialty retailer’s stock valued at $2,464,000 after purchasing an additional 1,395 shares during the last quarter. Finally, Toronto Dominion Bank increased its position in shares of Tractor Supply by 1.5% during the 3rd quarter. Toronto Dominion Bank now owns 55,824 shares of the specialty retailer’s stock valued at $11,335,000 after purchasing an additional 830 shares during the last quarter. Institutional investors own 98.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Piper Sandler boosted their target price on Tractor Supply from $265.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. Robert W. Baird boosted their target price on Tractor Supply from $260.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Benchmark reissued a “buy” rating and set a $256.00 target price on shares of Tractor Supply in a research report on Monday, April 22nd. Raymond James boosted their target price on Tractor Supply from $250.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Finally, Wedbush restated a “neutral” rating and set a $235.00 price objective on shares of Tractor Supply in a report on Tuesday, April 23rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $254.17.

Tractor Supply Stock Up 0.7 %

Shares of TSCO traded up $1.74 during trading hours on Friday, hitting $269.29. The company had a trading volume of 724,462 shares, compared to its average volume of 1,156,420. The company has a market capitalization of $29.03 billion, a PE ratio of 26.66, a price-to-earnings-growth ratio of 3.47 and a beta of 0.83. The company has a current ratio of 1.40, a quick ratio of 0.19 and a debt-to-equity ratio of 0.83. Tractor Supply has a one year low of $185.00 and a one year high of $290.38. The company’s fifty day moving average price is $274.57 and its two-hundred day moving average price is $249.81.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 EPS for the quarter, topping the consensus estimate of $1.70 by $0.13. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.40 billion. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.65 EPS. As a group, equities analysts forecast that Tractor Supply will post 10.34 earnings per share for the current fiscal year.

Tractor Supply Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Tuesday, May 28th were given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.63%. The ex-dividend date was Friday, May 24th. Tractor Supply’s dividend payout ratio is currently 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.