Rational Advisors LLC grew its stake in Tractor Supply (NASDAQ:TSCO) by 4,550.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,160 shares of the specialty retailer’s stock after purchasing an additional 16,791 shares during the quarter. Rational Advisors LLC’s holdings in Tractor Supply were worth $1,678,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Piedmont Investment Advisors Inc. grew its position in shares of Tractor Supply by 2.0% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 10,847 shares of the specialty retailer’s stock worth $1,060,000 after buying an additional 213 shares during the period. Catalyst Capital Advisors LLC purchased a new stake in Tractor Supply during the 1st quarter valued at about $1,026,000. Manchester Capital Management LLC grew its position in Tractor Supply by 54.8% during the 1st quarter. Manchester Capital Management LLC now owns 565 shares of the specialty retailer’s stock valued at $55,000 after purchasing an additional 200 shares during the last quarter. Great West Life Assurance Co. Can grew its position in Tractor Supply by 21.7% during the 1st quarter. Great West Life Assurance Co. Can now owns 151,365 shares of the specialty retailer’s stock valued at $14,776,000 after purchasing an additional 26,945 shares during the last quarter. Finally, Commerce Bank grew its position in Tractor Supply by 7.6% during the 1st quarter. Commerce Bank now owns 6,137 shares of the specialty retailer’s stock valued at $600,000 after purchasing an additional 433 shares during the last quarter. Institutional investors and hedge funds own 84.78% of the company’s stock.
In other news, EVP Benjamin F. Parrish, Jr. sold 37,596 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $99.00, for a total value of $3,722,004.00. Following the transaction, the executive vice president now owns 26,549 shares in the company, valued at approximately $2,628,351. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Steve K. Barbarick sold 58,597 shares of the stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $99.70, for a total transaction of $5,842,120.90. Following the completion of the transaction, the chief operating officer now owns 94,301 shares in the company, valued at approximately $9,401,809.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 328,051 shares of company stock worth $33,304,084. Insiders own 1.50% of the company’s stock.
Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.07. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.81 billion. Tractor Supply had a net margin of 6.68% and a return on equity of 36.16%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.57 EPS. As a group, equities research analysts anticipate that Tractor Supply will post 4.76 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 28th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date is Friday, May 24th. This is an increase from Tractor Supply’s previous quarterly dividend of $0.31. Tractor Supply’s dividend payout ratio (DPR) is presently 28.77%.
Several brokerages recently commented on TSCO. Morgan Stanley increased their price objective on shares of Tractor Supply from $89.00 to $96.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Wells Fargo & Co increased their price objective on shares of Tractor Supply from $108.00 to $114.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. Telsey Advisory Group reissued a “market perform” rating and set a $98.00 price objective (up from $92.00) on shares of Tractor Supply in a research report on Monday, April 22nd. Wedbush increased their price objective on shares of Tractor Supply from $105.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Finally, BidaskClub downgraded shares of Tractor Supply from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $98.42.
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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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