1,620 Shares in Tractor Supply (NASDAQ:TSCO) Purchased by Regent Investment Management LLC

Regent Investment Management LLC acquired a new position in Tractor Supply (NASDAQ:TSCO) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,620 shares of the specialty retailer’s stock, valued at approximately $213,000.

A number of other hedge funds have also recently made changes to their positions in TSCO. Trustcore Financial Services LLC lifted its position in Tractor Supply by 2.5% in the first quarter. Trustcore Financial Services LLC now owns 4,107 shares of the specialty retailer’s stock valued at $347,000 after purchasing an additional 101 shares during the last quarter. Truewealth LLC lifted its position in Tractor Supply by 92.0% in the second quarter. Truewealth LLC now owns 240 shares of the specialty retailer’s stock valued at $32,000 after purchasing an additional 115 shares during the last quarter. Cornerstone Advisors Inc. lifted its position in Tractor Supply by 10.0% in the first quarter. Cornerstone Advisors Inc. now owns 1,336 shares of the specialty retailer’s stock valued at $113,000 after purchasing an additional 122 shares during the last quarter. Pacer Advisors Inc. lifted its position in Tractor Supply by 4.2% in the first quarter. Pacer Advisors Inc. now owns 3,123 shares of the specialty retailer’s stock valued at $290,000 after purchasing an additional 126 shares during the last quarter. Finally, Fifth Third Bancorp lifted its position in Tractor Supply by 4.4% in the first quarter. Fifth Third Bancorp now owns 3,009 shares of the specialty retailer’s stock valued at $254,000 after purchasing an additional 126 shares during the last quarter. Hedge funds and other institutional investors own 84.57% of the company’s stock.

Shares of Tractor Supply stock opened at $142.74 on Friday. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.40 and a quick ratio of 0.62. Tractor Supply has a 1 year low of $63.89 and a 1 year high of $154.48. The firm’s 50-day moving average is $134.23 and its two-hundred day moving average is $105.95. The stock has a market cap of $16.58 billion, a price-to-earnings ratio of 24.47, a PEG ratio of 1.82 and a beta of 1.03.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Thursday, July 23rd. The specialty retailer reported $2.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.28. The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.01 billion. Tractor Supply had a return on equity of 45.25% and a net margin of 7.40%. The business’s quarterly revenue was up 34.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.80 earnings per share. On average, equities analysts expect that Tractor Supply will post 6.18 earnings per share for the current year.

In other Tractor Supply news, SVP Christi C. Korzekwa sold 17,102 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $110.00, for a total value of $1,881,220.00. Following the sale, the senior vice president now directly owns 15,889 shares of the company’s stock, valued at $1,747,790. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Edna Morris sold 5,000 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $144.46, for a total transaction of $722,300.00. Following the completion of the sale, the director now directly owns 4,676 shares in the company, valued at $675,494.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 249,401 shares of company stock worth $26,732,395. 1.50% of the stock is owned by insiders.

TSCO has been the topic of several research analyst reports. Bank of America reissued a “buy” rating on shares of Tractor Supply in a research note on Friday, July 24th. Morgan Stanley cut Tractor Supply from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $145.00 to $155.00 in a research note on Friday, July 24th. UBS Group upped their price target on Tractor Supply from $100.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 27th. Telsey Advisory Group increased their target price on Tractor Supply from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. Finally, Nomura Instinet upped their price target on Tractor Supply from $95.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, May 27th. Seventeen research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $131.31.

About Tractor Supply

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.

Further Reading: Return On Assets

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Institutional Ownership by Quarter for Tractor Supply (NASDAQ:TSCO)

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