Marietta Investment Partners LLC lifted its position in Tractor Supply (NASDAQ:TSCO) by 45.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,677 shares of the specialty retailer’s stock after purchasing an additional 1,451 shares during the quarter. Marietta Investment Partners LLC’s holdings in Tractor Supply were worth $457,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Icon Wealth Partners LLC purchased a new position in Tractor Supply in the first quarter valued at approximately $27,000. Bruderman Asset Management LLC purchased a new position in Tractor Supply in the fourth quarter valued at approximately $25,000. Rational Advisors LLC increased its stake in Tractor Supply by 570.9% in the fourth quarter. Rational Advisors LLC now owns 369 shares of the specialty retailer’s stock valued at $31,000 after purchasing an additional 314 shares during the last quarter. Liberty Wealth Management LLC purchased a new position in Tractor Supply in the fourth quarter valued at approximately $31,000. Finally, Laurel Wealth Advisors LLC purchased a new position in Tractor Supply in the fourth quarter valued at approximately $33,000. 81.90% of the stock is owned by hedge funds and other institutional investors.
Tractor Supply stock traded up $0.07 during midday trading on Wednesday, reaching $106.70. The company’s stock had a trading volume of 815,100 shares, compared to its average volume of 1,369,625. Tractor Supply has a fifty-two week low of $74.93 and a fifty-two week high of $109.67. The company has a quick ratio of 0.15, a current ratio of 1.58 and a debt-to-equity ratio of 0.43. The company’s 50 day simple moving average is $103.80. The company has a market capitalization of $12.86 billion, a price-to-earnings ratio of 24.76, a PEG ratio of 1.97 and a beta of 1.07.
Tractor Supply (NASDAQ:TSCO) last posted its earnings results on Thursday, April 25th. The specialty retailer reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.07. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.81 billion. Tractor Supply had a net margin of 6.68% and a return on equity of 36.16%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the firm posted $0.57 EPS. As a group, equities analysts predict that Tractor Supply will post 4.77 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 28th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend was Friday, May 24th. This is a boost from Tractor Supply’s previous quarterly dividend of $0.31. Tractor Supply’s dividend payout ratio is 32.48%.
In related news, EVP Benjamin F. Parrish, Jr. sold 37,596 shares of the stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $99.00, for a total transaction of $3,722,004.00. Following the sale, the executive vice president now owns 26,549 shares of the company’s stock, valued at $2,628,351. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Gregory A. Sandfort sold 74,667 shares of the stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $105.00, for a total value of $7,840,035.00. Following the sale, the chief executive officer now directly owns 166,325 shares in the company, valued at approximately $17,464,125. The disclosure for this sale can be found here. In the last quarter, insiders have sold 349,231 shares of company stock worth $35,744,466. 1.50% of the stock is owned by insiders.
Several equities analysts have commented on the stock. Zacks Investment Research lowered shares of Tractor Supply from a “hold” rating to a “sell” rating in a research note on Thursday, April 11th. BidaskClub lowered shares of Tractor Supply from a “buy” rating to a “hold” rating in a research note on Wednesday, June 19th. Wedbush restated an “outperform” rating and set a $115.00 target price on shares of Tractor Supply in a research report on Thursday, May 16th. Piper Jaffray Companies raised their target price on shares of Tractor Supply from $102.00 to $114.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Finally, Barclays raised their target price on shares of Tractor Supply from $100.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the stock. Tractor Supply presently has a consensus rating of “Hold” and an average target price of $99.11.
Tractor Supply 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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