Wendell David Associates Inc. lowered its stake in Tractor Supply Company (NASDAQ:TSCO) by 34.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 22,530 shares of the specialty retailer’s stock after selling 11,890 shares during the period. Wendell David Associates Inc.’s holdings in Tractor Supply were worth $1,221,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Tractor Supply by 2,934.4% in the first quarter. BlackRock Inc. now owns 7,835,590 shares of the specialty retailer’s stock valued at $540,419,000 after buying an additional 7,577,362 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Tractor Supply during the first quarter valued at about $102,767,000. Morgan Stanley boosted its position in Tractor Supply by 214.1% in the first quarter. Morgan Stanley now owns 1,422,302 shares of the specialty retailer’s stock worth $98,098,000 after buying an additional 969,544 shares during the period. Wedgewood Partners Inc. boosted its position in Tractor Supply by 41.4% in the first quarter. Wedgewood Partners Inc. now owns 2,200,018 shares of the specialty retailer’s stock worth $151,733,000 after buying an additional 643,844 shares during the period. Finally, Columbia Wanger Asset Management LLC bought a new position in Tractor Supply during the first quarter worth $37,690,000. 91.37% of the stock is owned by hedge funds and other institutional investors.
Tractor Supply Company (NASDAQ TSCO) traded up 0.56% on Friday, hitting $53.49. The company had a trading volume of 1,613,189 shares. The firm’s 50 day moving average price is $53.46 and its 200 day moving average price is $62.52. Tractor Supply Company has a 12-month low of $49.87 and a 12-month high of $87.10. The stock has a market cap of $6.86 billion, a P/E ratio of 16.17 and a beta of 1.32.
Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Wednesday, July 26th. The specialty retailer reported $1.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.27 by $0.02. The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2.02 billion. Tractor Supply had a net margin of 6.16% and a return on equity of 30.56%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.16 earnings per share. Equities analysts predict that Tractor Supply Company will post $3.25 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Monday, August 21st will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Thursday, August 17th. Tractor Supply’s dividend payout ratio is currently 32.53%.
TSCO has been the subject of a number of analyst reports. Wedbush cut their price target on Tractor Supply from $83.00 to $80.00 and set an “outperform” rating for the company in a report on Friday, April 28th. Zacks Investment Research raised Tractor Supply from a “sell” rating to a “hold” rating in a report on Thursday, April 27th. CIBC cut Tractor Supply from an “outperform” rating to a “market perform” rating in a report on Thursday, May 4th. Oppenheimer Holdings, Inc. set a $88.00 price target on Tractor Supply and gave the stock a “buy” rating in a report on Thursday, April 27th. Finally, Guggenheim lowered their price objective on Tractor Supply from $80.00 to $77.00 and set a “hold” rating for the company in a research report on Monday, April 17th. Nineteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $74.91.
About Tractor Supply
Tractor Supply Company is an operator of rural lifestyle retail stores in the United States. The Company is focused on supplying the needs of recreational farmers and ranchers and others, as well as tradesmen and small businesses. It is engaged in the retail sale of products that support the rural lifestyle.
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