Massachusetts Financial Services Co. MA Has $241.53 Million Stake in Tractor Supply (NASDAQ:TSCO)

Massachusetts Financial Services Co. MA lifted its position in shares of Tractor Supply (NASDAQ:TSCO) by 3.7% during the third quarter, Holdings Channel.com reports. The firm owned 830,193 shares of the specialty retailer’s stock after buying an additional 29,730 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Tractor Supply were worth $241,528,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. LRI Investments LLC acquired a new stake in shares of Tractor Supply during the first quarter worth $28,000. Future Financial Wealth Managment LLC bought a new stake in Tractor Supply in the 3rd quarter valued at about $29,000. First Personal Financial Services acquired a new position in shares of Tractor Supply during the 3rd quarter worth approximately $29,000. Whittier Trust Co. increased its holdings in shares of Tractor Supply by 60.9% during the second quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock worth $30,000 after purchasing an additional 42 shares during the period. Finally, OFI Invest Asset Management acquired a new stake in shares of Tractor Supply in the second quarter valued at approximately $33,000. 98.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on TSCO. Wells Fargo & Company raised their price objective on Tractor Supply from $295.00 to $325.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Piper Sandler raised their price target on Tractor Supply from $300.00 to $332.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Robert W. Baird set a $320.00 price objective on shares of Tractor Supply in a research report on Thursday, October 17th. Truist Financial decreased their target price on shares of Tractor Supply from $325.00 to $317.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Finally, Raymond James upped their price target on shares of Tractor Supply from $285.00 to $290.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $282.82.

Tractor Supply Trading Up 3.0 %

Shares of NASDAQ TSCO opened at $281.71 on Friday. The stock has a market cap of $30.10 billion, a P/E ratio of 27.40, a price-to-earnings-growth ratio of 3.43 and a beta of 0.82. The firm has a 50 day moving average price of $284.18 and a two-hundred day moving average price of $275.47. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.17 and a current ratio of 1.48. Tractor Supply has a 52-week low of $197.00 and a 52-week high of $307.64.

Tractor Supply Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.56%. The ex-dividend date is Monday, November 25th. Tractor Supply’s dividend payout ratio is currently 42.80%.

Insiders Place Their Bets

In other news, CFO Kurt D. Barton sold 23,532 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total transaction of $6,957,000.48. Following the completion of the transaction, the chief financial officer now directly owns 9,683 shares in the company, valued at $2,862,682.12. This trade represents a 70.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.24% of the company’s stock.

Tractor Supply Company Profile

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.