The Manufacturers Life Insurance Company Raises Stock Holdings in Tractor Supply (NASDAQ:TSCO)

The Manufacturers Life Insurance Company boosted its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 2.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 171,229 shares of the specialty retailer’s stock after purchasing an additional 4,146 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.15% of Tractor Supply worth $24,545,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Tractor Supply by 2.7% during the third quarter. BlackRock Inc. now owns 9,288,520 shares of the specialty retailer’s stock valued at $1,331,417,000 after acquiring an additional 247,969 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Tractor Supply by 129.4% during the second quarter. Nordea Investment Management AB now owns 1,552,180 shares of the specialty retailer’s stock valued at $205,632,000 after acquiring an additional 875,695 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Tractor Supply by 27.5% during the third quarter. Wells Fargo & Company MN now owns 1,409,420 shares of the specialty retailer’s stock valued at $202,025,000 after acquiring an additional 303,592 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Tractor Supply by 1.9% during the second quarter. Bank of New York Mellon Corp now owns 1,116,701 shares of the specialty retailer’s stock valued at $147,171,000 after acquiring an additional 20,704 shares during the last quarter. Finally, Neuberger Berman Group LLC raised its holdings in shares of Tractor Supply by 1.1% during the second quarter. Neuberger Berman Group LLC now owns 800,039 shares of the specialty retailer’s stock valued at $105,234,000 after acquiring an additional 8,482 shares during the last quarter. Institutional investors own 84.91% of the company’s stock.

A number of equities analysts have commented on TSCO shares. Barclays started coverage on Tractor Supply in a report on Monday, July 27th. They set an “overweight” rating and a $155.00 target price for the company. BidaskClub cut Tractor Supply from a “buy” rating to a “hold” rating in a report on Friday, September 11th. ValuEngine cut Tractor Supply from a “hold” rating to a “sell” rating in a report on Tuesday, November 10th. Edward Jones cut Tractor Supply from a “buy” rating to a “hold” rating in a report on Wednesday, August 26th. Finally, BNP Paribas initiated coverage on Tractor Supply in a report on Monday, October 5th. They issued a “neutral” rating and a $133.00 price target for the company. One equities research analyst has rated the stock with a sell rating, twenty have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $138.15.

In related news, EVP Benjamin F. Parrish, Jr. sold 120,619 shares of Tractor Supply stock in a transaction on Monday, August 31st. The stock was sold at an average price of $148.10, for a total value of $17,863,673.90. Following the completion of the transaction, the executive vice president now directly owns 67,262 shares in the company, valued at $9,961,502.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Robert D. Mills sold 11,311 shares of Tractor Supply stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $155.00, for a total value of $1,753,205.00. Following the completion of the transaction, the executive vice president now owns 17,485 shares of the company’s stock, valued at $2,710,175. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 163,825 shares of company stock valued at $24,535,604. Company insiders own 1.50% of the company’s stock.

TSCO stock opened at $129.70 on Friday. Tractor Supply has a 52-week low of $63.89 and a 52-week high of $157.07. The business has a fifty day moving average of $140.25 and a two-hundred day moving average of $135.16. The stock has a market cap of $15.11 billion, a price-to-earnings ratio of 22.21, a price-to-earnings-growth ratio of 1.86 and a beta of 1.02. The company has a quick ratio of 0.62, a current ratio of 1.40 and a debt-to-equity ratio of 0.34.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, October 22nd. The specialty retailer reported $1.62 EPS for the quarter, topping the consensus estimate of $1.38 by $0.24. Tractor Supply had a return on equity of 45.25% and a net margin of 7.40%. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.42 billion. During the same period last year, the business posted $1.02 earnings per share. The company’s quarterly revenue was up 31.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Tractor Supply will post 6.33 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 8th. Stockholders of record on Monday, November 23rd will be given a dividend of $0.40 per share. The ex-dividend date is Friday, November 20th. This represents a $1.60 annualized dividend and a dividend yield of 1.23%. Tractor Supply’s dividend payout ratio is currently 34.19%.

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

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