Allen Capital Group LLC Raises Stock Holdings in Tractor Supply (NASDAQ:TSCO)

Allen Capital Group LLC increased its position in Tractor Supply (NASDAQ:TSCO) by 5.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 11,256 shares of the specialty retailer’s stock after buying an additional 596 shares during the quarter. Allen Capital Group LLC’s holdings in Tractor Supply were worth $3,275,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TSCO. LRI Investments LLC bought a new stake in Tractor Supply in the first quarter valued at approximately $28,000. Future Financial Wealth Managment LLC bought a new stake in Tractor Supply in the third quarter valued at approximately $29,000. First Personal Financial Services bought a new stake in Tractor Supply in the third quarter valued at approximately $29,000. Whittier Trust Co. lifted its position in Tractor Supply by 60.9% in the second quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock valued at $30,000 after purchasing an additional 42 shares during the last quarter. Finally, OFI Invest Asset Management bought a new stake in Tractor Supply in the second quarter valued at approximately $33,000. Institutional investors own 98.72% of the company’s stock.

Insider Transactions at Tractor Supply

In other news, CFO Kurt D. Barton sold 23,532 shares of the company’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 9,683 shares of the company’s stock, valued at $2,862,682.12. This represents a 70.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on TSCO. Evercore ISI upgraded Tractor Supply from a “hold” rating to a “strong-buy” rating in a report on Friday, November 15th. Wedbush reaffirmed a “neutral” rating and issued a $270.00 price target on shares of Tractor Supply in a research note on Friday, October 25th. JPMorgan Chase & Co. upped their price target on Tractor Supply from $260.00 to $290.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. UBS Group upped their price target on Tractor Supply from $272.00 to $280.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Finally, Loop Capital upped their price target on Tractor Supply from $250.00 to $260.00 and gave the stock a “hold” rating in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $282.82.

Tractor Supply Stock Up 1.3 %

Shares of TSCO opened at $273.45 on Friday. The stock has a market capitalization of $29.22 billion, a price-to-earnings ratio of 26.60, a price-to-earnings-growth ratio of 3.42 and a beta of 0.82. Tractor Supply has a 1 year low of $197.00 and a 1 year high of $307.64. The business’s 50 day simple moving average is $284.21 and its 200-day simple moving average is $275.38. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.48 and a quick ratio of 0.17.

Tractor Supply Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be issued a dividend of $1.10 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $4.40 annualized dividend and a dividend yield of 1.61%. Tractor Supply’s dividend payout ratio (DPR) is 42.80%.

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.