PFG Investments LLC Increases Stock Holdings in Tractor Supply (NASDAQ:TSCO)

PFG Investments LLC grew its stake in shares of Tractor Supply (NASDAQ:TSCO) by 7.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,892 shares of the specialty retailer’s stock after purchasing an additional 577 shares during the quarter. PFG Investments LLC’s holdings in Tractor Supply were worth $2,131,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Wellington Management Group LLP boosted its position in shares of Tractor Supply by 63.2% in the 4th quarter. Wellington Management Group LLP now owns 4,606,455 shares of the specialty retailer’s stock valued at $990,526,000 after purchasing an additional 1,784,304 shares during the period. Norges Bank purchased a new position in shares of Tractor Supply during the fourth quarter worth approximately $260,560,000. Capital World Investors increased its holdings in shares of Tractor Supply by 10.0% in the 4th quarter. Capital World Investors now owns 5,849,188 shares of the specialty retailer’s stock valued at $1,257,751,000 after acquiring an additional 531,170 shares during the period. Capital International Investors raised its position in Tractor Supply by 7.6% in the 4th quarter. Capital International Investors now owns 6,233,852 shares of the specialty retailer’s stock valued at $1,340,589,000 after purchasing an additional 439,954 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Tractor Supply by 12.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,330,621 shares of the specialty retailer’s stock valued at $871,691,000 after purchasing an additional 368,859 shares during the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on TSCO. Telsey Advisory Group restated an “outperform” rating and issued a $305.00 price objective on shares of Tractor Supply in a research note on Thursday, July 25th. Loop Capital boosted their price target on Tractor Supply from $250.00 to $260.00 and gave the company a “hold” rating in a research report on Friday. Wedbush reaffirmed a “neutral” rating and set a $270.00 price objective on shares of Tractor Supply in a research note on Friday, July 26th. Evercore ISI lowered their target price on Tractor Supply from $290.00 to $280.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Finally, Truist Financial boosted their target price on Tractor Supply from $289.00 to $293.00 and gave the company a “buy” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tractor Supply currently has a consensus rating of “Hold” and a consensus target price of $256.72.

Tractor Supply Price Performance

TSCO stock opened at $272.79 on Tuesday. The firm has a 50 day moving average of $265.42 and a 200-day moving average of $265.15. The company has a market cap of $29.43 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 3.40 and a beta of 0.80. The company has a current ratio of 1.43, a quick ratio of 0.25 and a debt-to-equity ratio of 0.76. Tractor Supply has a 12-month low of $185.00 and a 12-month high of $290.38.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share for the quarter, meeting the consensus estimate of $3.93. The firm had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.28 billion. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. Tractor Supply’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period last year, the business posted $3.83 EPS. As a group, equities analysts expect that Tractor Supply will post 10.23 EPS for the current fiscal year.

Tractor Supply Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 26th will be given a $1.10 dividend. The ex-dividend date of this dividend is Monday, August 26th. This represents a $4.40 annualized dividend and a dividend yield of 1.61%. Tractor Supply’s dividend payout ratio is presently 42.84%.

Insider Activity at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 540 shares of Tractor Supply stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $262.35, for a total transaction of $141,669.00. Following the completion of the transaction, the senior vice president now owns 5,170 shares in the company, valued at $1,356,349.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.24% of the stock is owned by corporate insiders.

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.