Wells Fargo & Company MN lifted its stake in Tractor Supply (NASDAQ:TSCO) by 21.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,782,916 shares of the specialty retailer’s stock after purchasing an additional 316,629 shares during the period. Wells Fargo & Company MN’s holdings in Tractor Supply were worth $162,030,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Piedmont Investment Advisors LLC purchased a new stake in shares of Tractor Supply in the 2nd quarter worth about $106,000. Qube Research & Technologies Ltd purchased a new stake in shares of Tractor Supply in the 2nd quarter worth about $130,000. Steward Partners Investment Advisory LLC lifted its position in Tractor Supply by 118.9% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,751 shares of the specialty retailer’s stock valued at $134,000 after acquiring an additional 951 shares during the period. Stratos Wealth Partners LTD. purchased a new position in Tractor Supply during the 3rd quarter valued at about $142,000. Finally, NumerixS Investment Technologies Inc lifted its position in Tractor Supply by 58.3% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 1,900 shares of the specialty retailer’s stock valued at $148,000 after acquiring an additional 700 shares during the period. 82.02% of the stock is owned by hedge funds and other institutional investors.
In other news, SVP Chad Michael Frazell sold 19,818 shares of Tractor Supply stock in a transaction that occurred on Thursday, November 8th. The shares were sold at an average price of $96.65, for a total value of $1,915,409.70. Following the completion of the sale, the senior vice president now directly owns 28,961 shares in the company, valued at $2,799,080.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gregory A. Sandfort sold 140,709 shares of Tractor Supply stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $90.28, for a total transaction of $12,703,208.52. Following the completion of the sale, the chief executive officer now owns 118,845 shares of the company’s stock, valued at $10,729,326.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 224,348 shares of company stock valued at $20,263,980. 1.60% of the stock is owned by company insiders.
A number of research analysts recently issued reports on the stock. BidaskClub cut shares of Tractor Supply from a “buy” rating to a “hold” rating in a research report on Friday, November 2nd. Telsey Advisory Group reissued an “outperform” rating and set a $92.00 price target (up from $85.00) on shares of Tractor Supply in a research report on Saturday, October 27th. Credit Suisse Group set a $85.00 price target on shares of Tractor Supply and gave the company a “hold” rating in a research report on Friday, October 26th. Wells Fargo & Co lifted their price target on shares of Tractor Supply from $98.00 to $102.00 and gave the company an “outperform” rating in a research report on Friday, October 26th. Finally, Robert W. Baird lifted their price target on shares of Tractor Supply from $97.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 26th. Twelve investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $87.73.
NASDAQ:TSCO opened at $97.13 on Friday. The stock has a market cap of $11.66 billion, a price-to-earnings ratio of 23.24, a PEG ratio of 1.83 and a beta of 1.22. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.99 and a quick ratio of 0.21. Tractor Supply has a fifty-two week low of $58.27 and a fifty-two week high of $97.65.
Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, October 25th. The specialty retailer reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.08. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.82 billion. Tractor Supply had a net margin of 6.54% and a return on equity of 36.23%. Equities research analysts expect that Tractor Supply will post 4.29 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 11th. Shareholders of record on Monday, November 26th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, November 23rd. This represents a $1.24 dividend on an annualized basis and a yield of 1.28%. Tractor Supply’s dividend payout ratio is currently 37.24%.
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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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