Manning & Napier Group LLC Acquires Shares of 4,121 Tractor Supply (TSCO)

Manning & Napier Group LLC acquired a new position in shares of Tractor Supply (NASDAQ:TSCO) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,121 shares of the specialty retailer’s stock, valued at approximately $259,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. OppenheimerFunds Inc. boosted its position in Tractor Supply by 5.3% during the fourth quarter. OppenheimerFunds Inc. now owns 16,438 shares of the specialty retailer’s stock worth $1,229,000 after purchasing an additional 823 shares during the period. Mariner Wealth Advisors LLC boosted its position in Tractor Supply by 3.6% during the fourth quarter. Mariner Wealth Advisors LLC now owns 24,787 shares of the specialty retailer’s stock worth $1,853,000 after purchasing an additional 856 shares during the period. Arizona State Retirement System boosted its position in Tractor Supply by 1.9% during the fourth quarter. Arizona State Retirement System now owns 47,260 shares of the specialty retailer’s stock worth $3,533,000 after purchasing an additional 860 shares during the period. Griffin Asset Management Inc. boosted its position in Tractor Supply by 1.9% during the fourth quarter. Griffin Asset Management Inc. now owns 53,425 shares of the specialty retailer’s stock worth $3,994,000 after purchasing an additional 1,010 shares during the period. Finally, Baird Financial Group Inc. boosted its position in Tractor Supply by 5.7% during the fourth quarter. Baird Financial Group Inc. now owns 19,288 shares of the specialty retailer’s stock worth $1,442,000 after purchasing an additional 1,043 shares during the period. 84.58% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have commented on TSCO. Telsey Advisory Group cut shares of Tractor Supply from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $62.00 to $83.00 in a research report on Thursday, January 25th. They noted that the move was a valuation call. BidaskClub cut shares of Tractor Supply from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Guggenheim reaffirmed a “buy” rating and set a $88.00 price objective on shares of Tractor Supply in a research report on Tuesday, January 16th. Zacks Investment Research raised shares of Tractor Supply from a “hold” rating to a “strong-buy” rating and set a $89.00 price objective for the company in a research report on Monday, January 8th. Finally, Stephens set a $79.00 price objective on shares of Tractor Supply and gave the stock a “hold” rating in a research report on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have assigned a buy rating to the company. Tractor Supply currently has an average rating of “Hold” and an average target price of $72.20.

TSCO opened at $66.81 on Tuesday. Tractor Supply has a fifty-two week low of $49.87 and a fifty-two week high of $82.68. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.96 and a quick ratio of 0.22. The firm has a market cap of $8.29 billion, a PE ratio of 19.41, a PEG ratio of 1.24 and a beta of 1.27.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings results on Thursday, April 26th. The specialty retailer reported $0.57 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.57. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.70 billion. Tractor Supply had a return on equity of 31.99% and a net margin of 5.88%. Tractor Supply’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.46 earnings per share. sell-side analysts predict that Tractor Supply will post 4.09 EPS for the current year.

Tractor Supply Company 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.

Institutional Ownership by Quarter for Tractor Supply (NASDAQ:TSCO)

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