Moors & Cabot Inc. increased its position in shares of Tractor Supply (NASDAQ:TSCO – Free Report) by 11.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,154 shares of the specialty retailer’s stock after acquiring an additional 118 shares during the period. Moors & Cabot Inc.’s holdings in Tractor Supply were worth $255,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in Tractor Supply by 99,846.1% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,249,710 shares of the specialty retailer’s stock worth $939,611,000 after buying an additional 4,245,458 shares during the period. Norges Bank acquired a new position in shares of Tractor Supply in the 4th quarter valued at about $264,936,000. Alliancebernstein L.P. lifted its stake in shares of Tractor Supply by 84.0% in the 4th quarter. Alliancebernstein L.P. now owns 2,159,008 shares of the specialty retailer’s stock valued at $485,712,000 after purchasing an additional 985,799 shares during the period. Morgan Stanley lifted its stake in shares of Tractor Supply by 30.8% in the 4th quarter. Morgan Stanley now owns 1,642,115 shares of the specialty retailer’s stock valued at $369,427,000 after purchasing an additional 387,155 shares during the period. Finally, Provident Trust Co. acquired a new position in shares of Tractor Supply in the 2nd quarter valued at about $70,875,000. Institutional investors own 90.38% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on the company. Truist Financial dropped their price objective on Tractor Supply from $235.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, October 27th. Bank of America downgraded Tractor Supply from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $270.00 to $226.00 in a research note on Tuesday, July 25th. Barclays dropped their price target on Tractor Supply from $224.00 to $212.00 and set an “equal weight” rating on the stock in a research note on Monday, October 23rd. Wells Fargo & Company dropped their price target on Tractor Supply from $255.00 to $225.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 17th. Finally, DA Davidson raised Tractor Supply from a “neutral” rating to a “buy” rating and upped their price target for the stock from $250.00 to $280.00 in a research note on Thursday, September 28th. Eleven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Tractor Supply currently has an average rating of “Moderate Buy” and an average target price of $234.42.
Tractor Supply Stock Performance
TSCO stock opened at $200.71 on Tuesday. The business has a 50 day moving average of $202.34 and a 200-day moving average of $213.94. Tractor Supply has a 12-month low of $185.00 and a 12-month high of $251.17. The firm has a market cap of $21.70 billion, a PE ratio of 19.60, a P/E/G ratio of 2.94 and a beta of 0.85. The company has a quick ratio of 0.30, a current ratio of 1.52 and a debt-to-equity ratio of 0.83.
Tractor Supply (NASDAQ:TSCO – Get Free Report) last announced its quarterly earnings data on Thursday, October 26th. The specialty retailer reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.06. Tractor Supply had a return on equity of 55.43% and a net margin of 7.58%. The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.46 billion. As a group, sell-side analysts expect that Tractor Supply will post 10.04 earnings per share for the current year.
Tractor Supply Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Monday, November 27th will be given a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, November 24th. This represents a $4.12 annualized dividend and a dividend yield of 2.05%. Tractor Supply’s dividend payout ratio is currently 40.23%.
Tractor Supply Profile
Tractor Supply Company operates as a rural lifestyle retailer 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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