Stifel Financial Corp Boosts Holdings in Tractor Supply (NASDAQ:TSCO)

Stifel Financial Corp boosted its position in shares of Tractor Supply (NASDAQ:TSCO) by 1.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 143,585 shares of the specialty retailer’s stock after buying an additional 2,434 shares during the quarter. Stifel Financial Corp’s holdings in Tractor Supply were worth $26,716,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Select Equity Group L.P. lifted its position in shares of Tractor Supply by 1.6% during the first quarter. Select Equity Group L.P. now owns 3,559,706 shares of the specialty retailer’s stock worth $630,353,000 after purchasing an additional 54,372 shares during the last quarter. Clearbridge Investments LLC lifted its position in shares of Tractor Supply by 156,985.0% during the first quarter. Clearbridge Investments LLC now owns 3,141,699 shares of the specialty retailer’s stock worth $556,332,000 after purchasing an additional 3,139,699 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Tractor Supply by 8.7% in the second quarter. JPMorgan Chase & Co. now owns 2,822,443 shares of the specialty retailer’s stock valued at $525,143,000 after acquiring an additional 227,074 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Tractor Supply by 1.1% in the second quarter. Geode Capital Management LLC now owns 2,058,648 shares of the specialty retailer’s stock valued at $382,031,000 after acquiring an additional 22,270 shares in the last quarter. Finally, Maj Invest Holding A S raised its holdings in shares of Tractor Supply by 1.2% in the second quarter. Maj Invest Holding A S now owns 1,774,695 shares of the specialty retailer’s stock valued at $330,199,000 after acquiring an additional 21,819 shares in the last quarter. Institutional investors and hedge funds own 86.68% of the company’s stock.

In other news, CMO Jonathan S. Estep sold 3,786 shares of the company’s stock in a transaction that occurred on Friday, August 20th. The stock was sold at an average price of $198.00, for a total transaction of $749,628.00. Following the completion of the transaction, the chief marketing officer now directly owns 9,455 shares of the company’s stock, valued at approximately $1,872,090. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP John P. Ordus sold 19,429 shares of the company’s stock in a transaction that occurred on Friday, September 10th. The stock was sold at an average price of $205.00, for a total value of $3,982,945.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,742 shares of company stock worth $5,456,913. Insiders own 0.70% of the company’s stock.

Shares of NASDAQ TSCO opened at $194.94 on Thursday. The business’s 50 day moving average price is $198.46 and its 200 day moving average price is $188.76. The firm has a market cap of $22.29 billion, a P/E ratio of 25.96, a P/E/G ratio of 2.66 and a beta of 1.03. Tractor Supply has a 52 week low of $127.78 and a 52 week high of $213.68. The company has a quick ratio of 0.76, a current ratio of 1.71 and a debt-to-equity ratio of 0.51.

Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Sunday, July 18th. The specialty retailer reported $3.19 EPS for the quarter, beating the Zacks’ consensus estimate of $2.94 by $0.25. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.48 billion. Tractor Supply had a return on equity of 49.01% and a net margin of 7.39%. Tractor Supply’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.90 earnings per share. As a group, research analysts expect that Tractor Supply will post 7.96 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 8th. Shareholders of record on Monday, August 23rd were given a $0.52 dividend. The ex-dividend date was Friday, August 20th. This represents a $2.08 annualized dividend and a yield of 1.07%. Tractor Supply’s dividend payout ratio is presently 30.28%.

Several research firms recently weighed in on TSCO. Bank of America downgraded Tractor Supply from a “buy” rating to a “neutral” rating and set a $217.00 price objective for the company. in a report on Monday, October 4th. Zacks Investment Research downgraded shares of Tractor Supply from a “buy” rating to a “hold” rating and set a $214.00 target price for the company. in a report on Tuesday, September 14th. Piper Sandler boosted their target price on shares of Tractor Supply from $210.00 to $218.00 and gave the stock an “overweight” rating in a report on Thursday, July 15th. Benchmark initiated coverage on shares of Tractor Supply in a report on Tuesday, August 3rd. They issued a “buy” rating and a $219.00 target price for the company. Finally, Telsey Advisory Group boosted their target price on shares of Tractor Supply from $205.00 to $213.00 and gave the stock an “outperform” rating in a report on Friday, July 16th. Ten equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $201.65.

Tractor Supply Profile

Tractor Supply Co engages in the retail sale of farm and ranch products. It operates retail farm & ranch stores and focuses on supplying the lifestyle needs of recreational farmers and ranchers, as well as tradesmen and small businesses. The firm operates the retail stores under the names: Tractor Supply Company, Del’s Feed & Farm Supply, and Petsense.

See Also: Return on Equity (ROE)

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Institutional Ownership by Quarter for Tractor Supply (NASDAQ:TSCO)

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