Renaissance Technologies LLC purchased a new stake in shares of Tractor Supply (NASDAQ:TSCO) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 299,700 shares of the specialty retailer’s stock, valued at approximately $32,607,000.
A number of other institutional investors also recently modified their holdings of TSCO. Charter Trust Co. increased its stake in shares of Tractor Supply by 28.6% in the first quarter. Charter Trust Co. now owns 5,181 shares of the specialty retailer’s stock worth $506,000 after acquiring an additional 1,153 shares during the period. Catalyst Capital Advisors LLC purchased a new stake in Tractor Supply during the first quarter worth $1,026,000. Cerebellum GP LLC boosted its holdings in Tractor Supply by 12.0% during the first quarter. Cerebellum GP LLC now owns 3,461 shares of the specialty retailer’s stock worth $338,000 after buying an additional 372 shares in the last quarter. Creative Planning boosted its holdings in Tractor Supply by 15.0% during the second quarter. Creative Planning now owns 11,931 shares of the specialty retailer’s stock worth $1,298,000 after buying an additional 1,556 shares in the last quarter. Finally, Martingale Asset Management L P purchased a new stake in Tractor Supply during the first quarter worth $2,741,000. Institutional investors and hedge funds own 82.96% of the company’s stock.
A number of analysts recently issued reports on TSCO shares. Royal Bank of Canada set a $123.00 price target on shares of Tractor Supply and gave the stock a “buy” rating in a report on Friday, July 26th. Barclays increased their price target on shares of Tractor Supply from $100.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, May 16th. Goldman Sachs Group started coverage on shares of Tractor Supply in a report on Thursday, July 11th. They set a “buy” rating and a $122.00 price target on the stock. Northcoast Research downgraded shares of Tractor Supply from a “buy” rating to a “neutral” rating in a report on Wednesday, July 3rd. Finally, Piper Jaffray Companies increased their price objective on shares of Tractor Supply from $114.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $107.53.
Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Thursday, July 25th. The specialty retailer reported $1.80 EPS for the quarter, missing the Zacks’ consensus estimate of $1.81 by ($0.01). The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. Tractor Supply had a net margin of 6.71% and a return on equity of 36.12%. Tractor Supply’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the company earned $1.69 earnings per share. Equities research analysts anticipate that Tractor Supply will post 4.75 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend was Friday, August 23rd. Tractor Supply’s dividend payout ratio (DPR) is 32.48%.
In other news, SVP Chad Michael Frazell sold 17,857 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $110.04, for a total value of $1,964,984.28. Following the completion of the sale, the senior vice president now directly owns 31,004 shares in the company, valued at $3,411,680.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Steve K. Barbarick sold 36,108 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $104.10, for a total transaction of $3,758,842.80. Following the completion of the sale, the chief operating officer now owns 60,258 shares of the company’s stock, valued at $6,272,857.80. The disclosure for this sale can be found here. Insiders sold 64,933 shares of company stock valued at $6,865,486 over the last quarter. Company insiders own 1.50% of the company’s stock.
Tractor Supply Company Profile
Tractor Supply Company operates rural lifestyle retail stores 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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