DnB Asset Management AS raised its holdings in Tractor Supply (NASDAQ:TSCO) by 0.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 725,769 shares of the specialty retailer’s stock after acquiring an additional 6,269 shares during the period. DnB Asset Management AS’s holdings in Tractor Supply were worth $55,514,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Centaurus Financial Inc. acquired a new position in shares of Tractor Supply in the 1st quarter valued at about $100,000. Kennedy Capital Management Inc. acquired a new position in shares of Tractor Supply in the 4th quarter valued at about $204,000. D.B. Root & Company LLC acquired a new position in shares of Tractor Supply in the 1st quarter valued at about $213,000. Diversified Trust Co acquired a new position in shares of Tractor Supply in the 1st quarter valued at about $223,000. Finally, Rampart Investment Management Company LLC lifted its stake in shares of Tractor Supply by 117.0% in the 1st quarter. Rampart Investment Management Company LLC now owns 3,676 shares of the specialty retailer’s stock valued at $232,000 after purchasing an additional 1,982 shares in the last quarter. Institutional investors own 80.63% of the company’s stock.
Several equities analysts have recently weighed in on TSCO shares. Piper Jaffray Companies raised Tractor Supply from a “neutral” rating to an “overweight” rating and set a $71.00 price objective on the stock in a research note on Friday, April 20th. Royal Bank of Canada reduced their price objective on Tractor Supply to $64.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 24th. Goldman Sachs Group raised Tractor Supply from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $72.00 to $79.00 in a research note on Monday, April 16th. Wells Fargo & Co started coverage on Tractor Supply in a research note on Monday, April 23rd. They issued an “outperform” rating and a $70.00 price objective on the stock. Finally, Wedbush lifted their price objective on Tractor Supply from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, April 27th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $74.05.
Shares of Tractor Supply opened at $77.08 on Friday, according to MarketBeat.com. Tractor Supply has a 52-week low of $49.87 and a 52-week high of $82.68. The company has a market capitalization of $9.43 billion, a price-to-earnings ratio of 23.15, a price-to-earnings-growth ratio of 1.41 and a beta of 1.32. The company has a current ratio of 1.96, a quick ratio of 0.22 and a debt-to-equity ratio of 0.54.
Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Thursday, April 26th. The specialty retailer reported $0.57 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.57. Tractor Supply had a return on equity of 31.99% and a net margin of 5.88%. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period in the prior year, the company posted $0.46 EPS. Tractor Supply’s quarterly revenue was up 7.6% on a year-over-year basis. sell-side analysts expect that Tractor Supply will post 4.08 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 12th. Shareholders of record on Tuesday, May 29th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.61%. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, May 25th. Tractor Supply’s dividend payout ratio is presently 37.24%.
About Tractor Supply
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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