LMR Partners LLP Raises Stock Position in Tractor Supply (NASDAQ:TSCO)

LMR Partners LLP lifted its position in shares of Tractor Supply (NASDAQ:TSCO) by 1,586.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 67,034 shares of the specialty retailer’s stock after buying an additional 63,059 shares during the period. LMR Partners LLP’s holdings in Tractor Supply were worth $19,502,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its position in Tractor Supply by 12.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,330,621 shares of the specialty retailer’s stock worth $871,691,000 after purchasing an additional 368,859 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Tractor Supply by 10.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,123,280 shares of the specialty retailer’s stock valued at $303,278,000 after acquiring an additional 110,342 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Tractor Supply by 4.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 800,463 shares of the specialty retailer’s stock valued at $216,125,000 after acquiring an additional 37,071 shares during the last quarter. Provident Trust Co. increased its holdings in Tractor Supply by 1.7% during the 3rd quarter. Provident Trust Co. now owns 679,701 shares of the specialty retailer’s stock valued at $197,745,000 after acquiring an additional 11,139 shares in the last quarter. Finally, Clearbridge Investments LLC raised its position in Tractor Supply by 67.4% during the second quarter. Clearbridge Investments LLC now owns 403,710 shares of the specialty retailer’s stock worth $109,002,000 after acquiring an additional 162,533 shares during the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Citigroup cut shares of Tractor Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 17th. Loop Capital raised their price target on Tractor Supply from $250.00 to $260.00 and gave the stock a “hold” rating in a research report on Friday, September 6th. Barclays upped their price objective on Tractor Supply from $240.00 to $250.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. 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 report on Wednesday, October 16th. Finally, Melius Research started coverage on shares of Tractor Supply in a research report on Monday, September 23rd. They issued a “buy” rating and a $315.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $282.82.

Insider Activity at Tractor Supply

In related news, CFO Kurt D. Barton sold 23,532 shares of Tractor Supply stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $295.64, for a total value of $6,957,000.48. Following the completion of the sale, the chief financial officer now owns 9,683 shares in the company, valued at approximately $2,862,682.12. The trade was a 70.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.24% of the stock is currently owned by company insiders.

Tractor Supply Stock Performance

Tractor Supply stock opened at $275.66 on Monday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.48 and a quick ratio of 0.17. The firm’s fifty day moving average price is $284.33 and its 200 day moving average price is $275.35. The company has a market capitalization of $29.45 billion, a price-to-earnings ratio of 26.82, a price-to-earnings-growth ratio of 3.46 and a beta of 0.82. Tractor Supply has a 12-month low of $193.73 and a 12-month high of $307.64.

Tractor Supply Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be paid a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Monday, November 25th. Tractor Supply’s dividend payout ratio (DPR) is 42.80%.

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.