Trustcore Financial Services LLC bought a new position in shares of Tractor Supply (NASDAQ:TSCO) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 540 shares of the specialty retailer’s stock, valued at approximately $53,000.
Other hedge funds have also made changes to their positions in the company. State of Tennessee Treasury Department grew its holdings in shares of Tractor Supply by 35.1% during the fourth quarter. State of Tennessee Treasury Department now owns 181,833 shares of the specialty retailer’s stock worth $15,172,000 after purchasing an additional 47,239 shares during the last quarter. Psagot Investment House Ltd. bought a new stake in shares of Tractor Supply during the fourth quarter worth $35,000. Foothills Asset Management Ltd. bought a new stake in shares of Tractor Supply during the first quarter worth $2,234,000. First Hawaiian Bank grew its holdings in shares of Tractor Supply by 42.8% during the first quarter. First Hawaiian Bank now owns 9,187 shares of the specialty retailer’s stock worth $898,000 after purchasing an additional 2,753 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Tractor Supply by 66.8% during the fourth quarter. Millennium Management LLC now owns 505,942 shares of the specialty retailer’s stock worth $42,216,000 after purchasing an additional 202,673 shares during the last quarter. Institutional investors own 83.54% of the company’s stock.
Several brokerages have recently commented on TSCO. Barclays increased their target price on Tractor Supply from $100.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday. Wells Fargo & Co reiterated a “buy” rating and issued a $102.00 price target on shares of Tractor Supply in a report on Monday, February 11th. Telsey Advisory Group reiterated a “market perform” rating and issued a $98.00 price target (up previously from $92.00) on shares of Tractor Supply in a report on Monday, April 22nd. BidaskClub cut Tractor Supply from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 6th. Finally, Wedbush raised their price target on Tractor Supply from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $98.42.
Tractor Supply (NASDAQ:TSCO) last released its earnings results on Thursday, April 25th. The specialty retailer reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.07. Tractor Supply had a return on equity of 36.16% and a net margin of 6.68%. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the prior year, the firm posted $0.57 earnings per share. The company’s quarterly revenue was up 8.3% on a year-over-year basis. Sell-side analysts predict that Tractor Supply will post 4.76 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 28th will be paid a $0.35 dividend. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Friday, May 24th. This represents a $1.40 annualized dividend and a yield of 1.39%. Tractor Supply’s dividend payout ratio is presently 28.77%.
In other Tractor Supply news, CEO Gregory A. Sandfort sold 25,896 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $95.00, for a total value of $2,460,120.00. Following the transaction, the chief executive officer now owns 117,554 shares of the company’s stock, valued at $11,167,630. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Gregory A. Sandfort sold 74,667 shares of the stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $105.00, for a total value of $7,840,035.00. Following the completion of the transaction, the chief executive officer now directly owns 166,325 shares in the company, valued at approximately $17,464,125. The disclosure for this sale can be found here. Insiders sold 375,062 shares of company stock worth $37,903,170 in the last three months. Insiders own 1.50% of the company’s stock.
Tractor Supply 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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