Royal Bank of Canada lifted its position in shares of Tractor Supply (NASDAQ:TSCO) by 43.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 492,137 shares of the specialty retailer’s stock after purchasing an additional 148,818 shares during the period. Royal Bank of Canada’s holdings in Tractor Supply were worth $53,544,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Charter Trust Co. increased its holdings in Tractor Supply by 28.6% in the 1st quarter. Charter Trust Co. now owns 5,181 shares of the specialty retailer’s stock valued at $506,000 after purchasing an additional 1,153 shares in the last quarter. Capital Fund Management S.A. increased its holdings in Tractor Supply by 301.0% in the 2nd quarter. Capital Fund Management S.A. now owns 76,265 shares of the specialty retailer’s stock valued at $8,298,000 after purchasing an additional 57,245 shares in the last quarter. Cerebellum GP LLC increased its holdings in Tractor Supply by 12.0% in the 1st quarter. Cerebellum GP LLC now owns 3,461 shares of the specialty retailer’s stock valued at $338,000 after purchasing an additional 372 shares in the last quarter. Creative Planning increased its holdings in Tractor Supply by 15.0% in the 2nd quarter. Creative Planning now owns 11,931 shares of the specialty retailer’s stock valued at $1,298,000 after purchasing an additional 1,556 shares in the last quarter. Finally, Korea Investment CORP increased its holdings in Tractor Supply by 54.1% in the 2nd quarter. Korea Investment CORP now owns 94,839 shares of the specialty retailer’s stock valued at $10,318,000 after purchasing an additional 33,300 shares in the last quarter. Hedge funds and other institutional investors own 82.76% of the company’s stock.
Shares of Tractor Supply stock traded up $1.43 during trading hours on Monday, hitting $90.44. 302,566 shares of the company’s stock traded hands, compared to its average volume of 1,483,390. The stock has a 50 day simple moving average of $99.41 and a 200-day simple moving average of $102.57. The company has a quick ratio of 0.16, a current ratio of 1.52 and a debt-to-equity ratio of 1.57. The company has a market cap of $10.61 billion, a PE ratio of 20.98, a PEG ratio of 1.70 and a beta of 1.10. Tractor Supply has a twelve month low of $78.67 and a twelve month high of $114.25.
Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Thursday, July 25th. The specialty retailer reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($0.01). The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. Tractor Supply had a net margin of 6.71% and a return on equity of 36.12%. The firm’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.69 earnings per share. As a group, equities research analysts predict that Tractor Supply will post 4.74 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.40 annualized dividend and a dividend yield of 1.55%. Tractor Supply’s dividend payout ratio is presently 32.48%.
Several analysts recently issued reports on the company. BidaskClub downgraded Tractor Supply from a “buy” rating to a “hold” rating in a report on Saturday, September 14th. Zacks Investment Research downgraded Tractor Supply from a “hold” rating to a “sell” rating and set a $93.00 price target for the company. in a report on Friday. Guggenheim reiterated a “buy” rating and issued a $110.00 price target (down from $120.00) on shares of Tractor Supply in a report on Friday, September 20th. Royal Bank of Canada set a $123.00 price target on Tractor Supply and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Morgan Stanley increased their price target on Tractor Supply from $112.00 to $115.00 and gave the company an “equal weight” rating in a report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $107.28.
In other news, SVP Chad Michael Frazell sold 17,857 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $110.04, for a total transaction of $1,964,984.28. Following the completion of the sale, the senior vice president now directly owns 31,004 shares in the company, valued at $3,411,680.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.50% of the stock is owned by company insiders.
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.
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