United Capital Financial Advisers LLC reduced its stake in shares of Tractor Supply (NASDAQ:TSCO – Get Rating) by 5.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 181,598 shares of the specialty retailer’s stock after selling 10,434 shares during the quarter. United Capital Financial Advisers LLC owned approximately 0.16% of Tractor Supply worth $42,379,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in TSCO. BDO Wealth Advisors LLC raised its holdings in Tractor Supply by 78.1% in the first quarter. BDO Wealth Advisors LLC now owns 114 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 50 shares in the last quarter. Allworth Financial LP raised its stake in shares of Tractor Supply by 272.2% during the 1st quarter. Allworth Financial LP now owns 134 shares of the specialty retailer’s stock worth $31,000 after acquiring an additional 98 shares in the last quarter. Financial Management Professionals Inc. lifted its position in Tractor Supply by 278.4% during the first quarter. Financial Management Professionals Inc. now owns 140 shares of the specialty retailer’s stock valued at $33,000 after acquiring an additional 103 shares during the last quarter. Jackson Grant Investment Advisers Inc. acquired a new stake in Tractor Supply in the first quarter valued at approximately $44,000. Finally, Covestor Ltd purchased a new position in Tractor Supply in the fourth quarter worth $53,000. 82.86% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several brokerages have recently commented on TSCO. Truist Financial increased their price objective on Tractor Supply from $246.00 to $252.00 and gave the company a “buy” rating in a report on Friday, July 22nd. Wells Fargo & Company decreased their price target on Tractor Supply to $250.00 in a research note on Friday, July 22nd. Morgan Stanley raised their price target on Tractor Supply from $220.00 to $225.00 and gave the stock an “equal weight” rating in a report on Thursday, August 18th. Bank of America upgraded shares of Tractor Supply from a “neutral” rating to a “buy” rating and upped their price objective for the company from $250.00 to $260.00 in a report on Tuesday, June 14th. Finally, Piper Sandler set a $253.00 target price on shares of Tractor Supply in a research note on Tuesday, July 19th. Six research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tractor Supply currently has an average rating of “Moderate Buy” and a consensus price target of $240.79.
Tractor Supply Stock Up 0.6 %
Tractor Supply (NASDAQ:TSCO – Get Rating) last announced its quarterly earnings results on Thursday, July 21st. The specialty retailer reported $3.53 earnings per share for the quarter, beating the consensus estimate of $3.51 by $0.02. The firm had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.89 billion. Tractor Supply had a return on equity of 53.29% and a net margin of 7.76%. Tractor Supply’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.19 EPS. On average, research analysts forecast that Tractor Supply will post 9.58 EPS for the current year.
Tractor Supply Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 7th. Stockholders of record on Monday, August 22nd were given a dividend of $0.92 per share. The ex-dividend date was Friday, August 19th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.83%. Tractor Supply’s dividend payout ratio (DPR) is 40.62%.
About Tractor Supply
Tractor Supply Company operates as a rural lifestyle retailer 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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