Weaver Capital Management LLC Raises Position in Tractor Supply (NASDAQ:TSCO)

Weaver Capital Management LLC raised its stake in Tractor Supply (NASDAQ:TSCO) by 25.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,084 shares of the specialty retailer’s stock after purchasing an additional 624 shares during the quarter. Weaver Capital Management LLC’s holdings in Tractor Supply were worth $897,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its stake in shares of Tractor Supply by 12.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,330,621 shares of the specialty retailer’s stock worth $871,691,000 after purchasing an additional 368,859 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Tractor Supply by 10.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,123,280 shares of the specialty retailer’s stock valued at $303,278,000 after acquiring an additional 110,342 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Tractor Supply by 4.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 800,463 shares of the specialty retailer’s stock valued at $216,125,000 after acquiring an additional 37,071 shares during the last quarter. Clearbridge Investments LLC increased its position in shares of Tractor Supply by 67.4% during the second quarter. Clearbridge Investments LLC now owns 403,710 shares of the specialty retailer’s stock valued at $109,002,000 after acquiring an additional 162,533 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Tractor Supply by 5.6% during the second quarter. Principal Financial Group Inc. now owns 368,161 shares of the specialty retailer’s stock valued at $99,403,000 after acquiring an additional 19,393 shares during the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tractor Supply

In other news, SVP Matthew L. Rubin sold 540 shares of Tractor Supply stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $262.35, for a total value of $141,669.00. Following the transaction, the senior vice president now owns 5,170 shares in the company, valued at approximately $1,356,349.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Kurt D. Barton sold 23,532 shares of Tractor Supply stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total value of $6,957,000.48. Following the transaction, the chief financial officer now owns 9,683 shares in the company, valued at approximately $2,862,682.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Matthew L. Rubin sold 540 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $262.35, for a total value of $141,669.00. Following the transaction, the senior vice president now owns 5,170 shares in the company, valued at approximately $1,356,349.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

TSCO has been the subject of a number of research analyst reports. Evercore ISI downgraded Tractor Supply from an “outperform” rating to an “in-line” rating and set a $300.00 price target for the company. in a research report on Thursday, October 3rd. Robert W. Baird set a $320.00 price target on Tractor Supply in a research report on Thursday, October 17th. Telsey Advisory Group increased their price target on Tractor Supply from $300.00 to $335.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Wells Fargo & Company increased their price target on Tractor Supply from $295.00 to $325.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Finally, JPMorgan Chase & Co. raised their target price on Tractor Supply from $260.00 to $290.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $272.50.

Tractor Supply Price Performance

NASDAQ:TSCO opened at $291.44 on Wednesday. The firm has a market capitalization of $31.42 billion, a price-to-earnings ratio of 28.38, a P/E/G ratio of 3.74 and a beta of 0.80. Tractor Supply has a 52-week low of $185.00 and a 52-week high of $307.64. The stock has a fifty day moving average of $281.23 and a 200 day moving average of $272.74. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.25 and a current ratio of 1.43.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $3.93. The company had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.28 billion. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the company earned $3.83 earnings per share. On average, research analysts expect that Tractor Supply will post 10.23 EPS for the current fiscal year.

Tractor Supply Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were issued a $1.10 dividend. The ex-dividend date was Monday, August 26th. This represents a $4.40 annualized dividend and a dividend yield of 1.51%. Tractor Supply’s dividend payout ratio is currently 42.84%.

Tractor Supply 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.