Palisade Asset Management LLC Boosts Stock Holdings in Tractor Supply (NASDAQ:TSCO)

Palisade Asset Management LLC raised its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 281.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 36,972 shares of the specialty retailer’s stock after purchasing an additional 27,289 shares during the period. Palisade Asset Management LLC’s holdings in Tractor Supply were worth $7,950,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of TSCO. OFI Invest Asset Management bought a new stake in shares of Tractor Supply in the 3rd quarter valued at about $25,000. Pinnacle Bancorp Inc. acquired a new stake in Tractor Supply in the 4th quarter worth approximately $28,000. VisionPoint Advisory Group LLC boosted its stake in Tractor Supply by 105.6% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 148 shares of the specialty retailer’s stock worth $30,000 after purchasing an additional 76 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Tractor Supply in the 3rd quarter worth approximately $33,000. Finally, Cetera Trust Company N.A acquired a new stake in Tractor Supply in the 4th quarter worth approximately $38,000. 98.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TSCO has been the subject of a number of recent analyst reports. Telsey Advisory Group lifted their target price on shares of Tractor Supply from $280.00 to $305.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Wedbush reissued a “neutral” rating and set a $235.00 price target on shares of Tractor Supply in a research report on Tuesday, April 23rd. UBS Group raised their price target on shares of Tractor Supply from $220.00 to $240.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. The Goldman Sachs Group raised their price target on shares of Tractor Supply from $230.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Finally, TD Cowen raised their price target on shares of Tractor Supply from $250.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Tractor Supply currently has an average rating of “Hold” and a consensus price target of $253.54.

Tractor Supply Price Performance

Shares of NASDAQ TSCO traded down $3.48 during midday trading on Wednesday, hitting $266.65. The stock had a trading volume of 590,058 shares, compared to its average volume of 1,153,107. The company has a quick ratio of 0.19, a current ratio of 1.40 and a debt-to-equity ratio of 0.83. The stock has a 50 day simple moving average of $256.72 and a 200-day simple moving average of $230.30. The company has a market capitalization of $28.78 billion, a PE ratio of 25.98, a P/E/G ratio of 3.41 and a beta of 0.82. Tractor Supply has a 1 year low of $185.00 and a 1 year high of $279.38.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings data on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.13. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. The company had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same quarter last year, the firm posted $1.65 EPS. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, sell-side analysts expect that Tractor Supply will post 10.3 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Kurt D. Barton sold 4,335 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the transaction, the chief financial officer now directly owns 20,678 shares in the company, valued at approximately $5,314,246. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Tractor Supply news, CFO Kurt D. Barton sold 4,335 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $257.00, for a total value of $1,114,095.00. Following the completion of the sale, the chief financial officer now directly owns 20,678 shares of the company’s stock, valued at approximately $5,314,246. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Matthew L. Rubin sold 725 shares of Tractor Supply stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $238.09, for a total value of $172,615.25. Following the transaction, the senior vice president now owns 5,710 shares in the company, valued at approximately $1,359,493.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,090 shares of company stock worth $21,201,877. 0.58% of the stock is owned by insiders.

Tractor Supply Company 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.