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

Palisade Asset Management LLC decreased its stake in Tractor Supply (NASDAQ:TSCOGet Rating) by 2.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,457 shares of the specialty retailer’s stock after selling 225 shares during the quarter. Palisade Asset Management LLC’s holdings in Tractor Supply were worth $1,740,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the company. New England Professional Planning Group Inc. bought a new stake in shares of Tractor Supply during the 1st quarter worth approximately $239,000. Pinnacle Wealth Planning Services Inc. lifted its stake in shares of Tractor Supply by 4.5% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 1,678 shares of the specialty retailer’s stock worth $392,000 after acquiring an additional 72 shares during the last quarter. West Oak Capital LLC lifted its stake in shares of Tractor Supply by 2.8% during the 1st quarter. West Oak Capital LLC now owns 2,761 shares of the specialty retailer’s stock worth $644,000 after acquiring an additional 75 shares during the last quarter. Sigma Planning Corp lifted its stake in shares of Tractor Supply by 60.9% during the 1st quarter. Sigma Planning Corp now owns 4,247 shares of the specialty retailer’s stock worth $991,000 after acquiring an additional 1,607 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC lifted its stake in shares of Tractor Supply by 2.0% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 3,040 shares of the specialty retailer’s stock worth $709,000 after acquiring an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 83.17% of the company’s stock.

A number of equities research analysts have weighed in on TSCO shares. Truist Financial decreased their target price on Tractor Supply from $275.00 to $266.00 and set a “buy” rating for the company in a research report on Tuesday, June 7th. StockNews.com started coverage on Tractor Supply in a research report on Thursday, March 31st. They set a “hold” rating for the company. The Goldman Sachs Group decreased their target price on Tractor Supply from $260.00 to $207.00 and set a “buy” rating for the company in a research report on Monday. Citigroup lifted their target price on Tractor Supply from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, April 22nd. Finally, Oppenheimer raised Tractor Supply from a “market perform” rating to an “outperform” rating and set a $270.00 target price for the company in a research report on Friday, March 18th. They noted that the move was a valuation call. Six equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Tractor Supply presently has an average rating of “Moderate Buy” and an average price target of $241.63.

Tractor Supply stock traded up $1.20 during trading hours on Friday, hitting $195.05. 3,057 shares of the stock traded hands, compared to its average volume of 1,124,268. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.44 and a quick ratio of 0.27. The firm’s 50 day moving average price is $195.94 and its 200-day moving average price is $214.05. The stock has a market capitalization of $21.82 billion, a price-to-earnings ratio of 22.23, a P/E/G ratio of 2.11 and a beta of 1.04. Tractor Supply has a 1 year low of $166.49 and a 1 year high of $241.54.

Tractor Supply (NASDAQ:TSCOGet Rating) last posted its quarterly earnings results on Thursday, April 21st. The specialty retailer reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.25. The business had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $2.92 billion. Tractor Supply had a return on equity of 51.48% and a net margin of 7.74%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.55 EPS. Research analysts forecast that Tractor Supply will post 9.52 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 8th. Stockholders of record on Wednesday, May 25th were issued a $0.92 dividend. The ex-dividend date of this dividend was Tuesday, May 24th. This represents a $3.68 annualized dividend and a dividend yield of 1.89%. Tractor Supply’s dividend payout ratio (DPR) is presently 42.20%.

In other news, Director Cynthia T. Jamison sold 5,200 shares of the business’s stock in a transaction dated Thursday, May 12th. The stock was sold at an average price of $195.10, for a total value of $1,014,520.00. Following the completion of the transaction, the director now owns 24,280 shares of the company’s stock, valued at approximately $4,737,028. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.23% of the company’s stock.

Tractor Supply Profile (Get Rating)

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

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