6,000 Shares in Tractor Supply Company $TSCO Bought by Corient IA LLC

Key Points

• Corient IA LLC acquired 6,000 shares of Tractor Supply Company, totaling approximately $331,000, indicating growing interest from institutional investors in the stock.
• Tractor Supply's recent earnings showed EPS of $0.81, beating expectations, with revenues of $4.44 billion for the quarter, reflecting a 4.5% increase year-over-year.
• Analysts have adjusted price targets for Tractor Supply, with a consensus rating of "Moderate Buy" and an average price target of $61.80, suggesting positive market sentiment.

Corient IA LLC bought a new stake in shares of Tractor Supply Company (NASDAQ:TSCO - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 6,000 shares of the specialty retailer's stock, valued at approximately $331,000.

A number of other hedge funds have also recently bought and sold shares of TSCO. Capital World Investors raised its stake in shares of Tractor Supply by 403.7% in the 4th quarter. Capital World Investors now owns 19,433,135 shares of the specialty retailer's stock valued at $1,031,122,000 after buying an additional 15,575,311 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Tractor Supply by 287.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,417,152 shares of the specialty retailer's stock worth $552,735,000 after purchasing an additional 7,729,628 shares in the last quarter. Stifel Financial Corp lifted its stake in Tractor Supply by 398.6% during the fourth quarter. Stifel Financial Corp now owns 8,233,999 shares of the specialty retailer's stock worth $436,899,000 after purchasing an additional 6,582,562 shares during the period. Select Equity Group L.P. lifted its stake in Tractor Supply by 405.6% during the fourth quarter. Select Equity Group L.P. now owns 7,669,224 shares of the specialty retailer's stock worth $406,929,000 after purchasing an additional 6,152,333 shares during the period. Finally, Capital Research Global Investors boosted its holdings in Tractor Supply by 400.5% during the fourth quarter. Capital Research Global Investors now owns 7,617,713 shares of the specialty retailer's stock valued at $404,196,000 after purchasing an additional 6,095,825 shares in the last quarter. 98.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on TSCO shares. Wall Street Zen raised Tractor Supply from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Truist Financial lifted their target price on shares of Tractor Supply from $60.00 to $66.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Evercore ISI increased their price target on Tractor Supply from $60.00 to $65.00 and gave the stock an "in-line" rating in a research report on Friday, July 25th. Guggenheim dropped their price target on Tractor Supply from $60.00 to $55.00 and set a "buy" rating for the company in a report on Friday, April 25th. Finally, UBS Group boosted their price objective on Tractor Supply from $54.00 to $61.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, Tractor Supply currently has a consensus rating of "Moderate Buy" and an average price target of $61.80.

Tractor Supply Stock Performance

TSCO stock opened at $60.49 on Monday. Tractor Supply Company has a 1-year low of $46.85 and a 1-year high of $63.99. The company has a current ratio of 1.28, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The firm has a market cap of $32.06 billion, a PE ratio of 29.68, a P/E/G ratio of 3.11 and a beta of 0.75. The business's 50-day moving average price is $56.02 and its two-hundred day moving average price is $53.76.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The specialty retailer reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.80 by $0.01. Tractor Supply had a return on equity of 46.83% and a net margin of 7.18%. The company had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.40 billion. During the same quarter last year, the firm posted $3.93 earnings per share. Tractor Supply's revenue was up 4.5% compared to the same quarter last year. As a group, research analysts forecast that Tractor Supply Company will post 2.17 earnings per share for the current year.

Tractor Supply Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Monday, August 25th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Monday, August 25th. This represents a $0.92 annualized dividend and a dividend yield of 1.5%. Tractor Supply's dividend payout ratio is currently 45.10%.

Insider Activity at Tractor Supply

In other Tractor Supply news, CFO Kurt D. Barton sold 90,000 shares of Tractor Supply stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $63.96, for a total value of $5,756,400.00. Following the sale, the chief financial officer owned 47,715 shares of the company's stock, valued at $3,051,851.40. This trade represents a 65.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Noni L. Ellison sold 5,200 shares of the business's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $63.96, for a total value of $332,592.00. Following the completion of the sale, the senior vice president owned 28,639 shares in the company, valued at approximately $1,831,750.44. This trade represents a 15.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 204,680 shares of company stock valued at $12,071,552 over the last three months. Insiders own 0.65% of the company's stock.

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.

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