Bar Harbor Wealth Management Grows Stock Holdings in Tractor Supply (NASDAQ:TSCO)

Bar Harbor Wealth Management raised its position in shares of Tractor Supply (NASDAQ:TSCO) by 2.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,879 shares of the specialty retailer’s stock after purchasing an additional 240 shares during the period. Bar Harbor Wealth Management’s holdings in Tractor Supply were worth $2,874,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised 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 valued at $871,691,000 after purchasing an additional 368,859 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Tractor Supply by 10.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,123,280 shares of the specialty retailer’s stock valued at $303,278,000 after purchasing an additional 110,342 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Tractor Supply by 4.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 800,463 shares of the specialty retailer’s stock valued at $216,125,000 after purchasing an additional 37,071 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of Tractor Supply by 67.4% in the second quarter. Clearbridge Investments LLC now owns 403,710 shares of the specialty retailer’s stock worth $109,002,000 after buying an additional 162,533 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in shares of Tractor Supply by 5.6% in the second quarter. Principal Financial Group Inc. now owns 368,161 shares of the specialty retailer’s stock worth $99,403,000 after buying an additional 19,393 shares during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on TSCO. JPMorgan Chase & Co. lifted their price objective on Tractor Supply from $260.00 to $290.00 and gave the stock a “neutral” rating in a report on Wednesday. Evercore ISI downgraded Tractor Supply from an “outperform” rating to an “in-line” rating and set a $300.00 price objective on the stock. in a report on Thursday, October 3rd. Melius Research started coverage on Tractor Supply in a report on Monday, September 23rd. They issued a “buy” rating and a $315.00 price objective on the stock. Loop Capital boosted their price target on Tractor Supply from $250.00 to $260.00 and gave the company a “hold” rating in a report on Friday, September 6th. Finally, Citigroup upgraded Tractor Supply from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Tractor Supply has a consensus rating of “Moderate Buy” and an average target price of $270.91.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 540 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $262.35, for a total transaction of $141,669.00. Following the completion of the sale, the senior vice president now directly owns 5,170 shares in the company, valued at approximately $1,356,349.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Matthew L. Rubin sold 540 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $262.35, for a total value of $141,669.00. Following the transaction, the senior vice president now owns 5,170 shares of the company’s stock, valued at $1,356,349.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kurt D. Barton sold 23,532 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 9,683 shares of the company’s stock, valued at approximately $2,862,682.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.

Tractor Supply Stock Performance

TSCO stock opened at $298.32 on Friday. The stock has a market capitalization of $32.18 billion, a PE ratio of 28.77, a price-to-earnings-growth ratio of 3.81 and a beta of 0.80. Tractor Supply has a 12-month low of $185.00 and a 12-month high of $307.64. The company has a current ratio of 1.43, a quick ratio of 0.25 and a debt-to-equity ratio of 0.76. The stock’s 50 day simple moving average is $279.22 and its 200 day simple moving average is $271.66.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $3.93. The business had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.28 billion. Tractor Supply had a net margin of 7.65% and a return on equity of 51.84%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $3.83 EPS. As a group, research analysts forecast that Tractor Supply will post 10.23 earnings per share for the current fiscal year.

Tractor Supply Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were paid a dividend of $1.10 per share. The ex-dividend date was Monday, August 26th. This represents a $4.40 dividend on an annualized basis and a yield of 1.47%. Tractor Supply’s dividend payout ratio is presently 42.43%.

About Tractor Supply

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.