Palumbo Wealth Management LLC raised its position in shares of Tractor Supply Company (NASDAQ:TSCO - Free Report) by 30.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,539 shares of the specialty retailer's stock after purchasing an additional 12,550 shares during the period. Tractor Supply accounts for about 1.0% of Palumbo Wealth Management LLC's investment portfolio, making the stock its 28th largest position. Palumbo Wealth Management LLC's holdings in Tractor Supply were worth $2,950,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. FORA Capital LLC raised its stake in shares of Tractor Supply by 434.1% during the 4th quarter. FORA Capital LLC now owns 35,526 shares of the specialty retailer's stock worth $1,885,000 after purchasing an additional 28,875 shares in the last quarter. Sowell Financial Services LLC raised its stake in shares of Tractor Supply by 49.3% in the 1st quarter. Sowell Financial Services LLC now owns 20,029 shares of the specialty retailer's stock valued at $1,104,000 after acquiring an additional 6,612 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Tractor Supply by 385.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,089,542 shares of the specialty retailer's stock valued at $59,260,000 after acquiring an additional 865,273 shares in the last quarter. BOK Financial Private Wealth Inc. raised its stake in shares of Tractor Supply by 330.2% in the 4th quarter. BOK Financial Private Wealth Inc. now owns 21,355 shares of the specialty retailer's stock valued at $1,133,000 after acquiring an additional 16,391 shares in the last quarter. Finally, Gen Wealth Partners Inc raised its stake in shares of Tractor Supply by 513.8% in the 4th quarter. Gen Wealth Partners Inc now owns 14,320 shares of the specialty retailer's stock valued at $760,000 after acquiring an additional 11,987 shares in the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.
Tractor Supply Price Performance
Shares of NASDAQ:TSCO opened at $52.52 on Monday. Tractor Supply Company has a 1-year low of $46.85 and a 1-year high of $61.53. The firm has a market capitalization of $27.85 billion, a PE ratio of 26.08, a PEG ratio of 2.83 and a beta of 0.74. The business's 50 day moving average is $50.71 and its 200-day moving average is $53.13. The company has a current ratio of 1.41, a quick ratio of 0.17 and a debt-to-equity ratio of 0.94.
Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). Tractor Supply had a return on equity of 47.56% and a net margin of 7.24%. The firm had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.55 billion. During the same period in the previous year, the business posted $1.83 EPS. Tractor Supply's revenue for the quarter was up 2.1% compared to the same quarter last year. Sell-side analysts predict that Tractor Supply Company will post 2.17 earnings per share for the current year.
Tractor Supply Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend was Wednesday, May 28th. Tractor Supply's dividend payout ratio is 45.77%.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. cut their price objective on Tractor Supply from $59.00 to $56.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. Stephens assumed coverage on Tractor Supply in a research note on Wednesday, April 9th. They issued an "equal weight" rating and a $56.00 price objective on the stock. UBS Group set a $54.00 price objective on Tractor Supply in a research note on Friday, April 25th. Raymond James Financial dropped their price target on Tractor Supply from $61.00 to $57.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Finally, Guggenheim dropped their price target on Tractor Supply from $60.00 to $55.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $58.02.
Read Our Latest Stock Report on TSCO
Insider Activity at Tractor Supply
In related news, SVP Matthew L. Rubin sold 2,810 shares of the business's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $51.76, for a total value of $145,445.60. Following the sale, the senior vice president now owns 29,722 shares of the company's stock, valued at $1,538,410.72. The trade was a 8.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.65% of the stock is owned by insiders.
Tractor Supply Profile
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding TSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tractor Supply Company (NASDAQ:TSCO - Free Report).
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