BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Tractor Supply (NASDAQ:TSCO) by 16.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 67,332 shares of the specialty retailer’s stock after buying an additional 9,306 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.05% of Tractor Supply worth $4,243,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of TSCO. Victory Capital Management Inc. raised its holdings in shares of Tractor Supply by 11.1% in the fourth quarter. Victory Capital Management Inc. now owns 27,020 shares of the specialty retailer’s stock worth $2,020,000 after buying an additional 2,702 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Tractor Supply in the fourth quarter worth $2,959,000. Sei Investments Co. raised its holdings in shares of Tractor Supply by 23.4% in the fourth quarter. Sei Investments Co. now owns 83,162 shares of the specialty retailer’s stock worth $6,216,000 after buying an additional 15,747 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Tractor Supply by 1.9% in the fourth quarter. Arizona State Retirement System now owns 47,260 shares of the specialty retailer’s stock worth $3,533,000 after buying an additional 860 shares during the last quarter. Finally, Shell Asset Management Co. raised its holdings in shares of Tractor Supply by 114.3% in the fourth quarter. Shell Asset Management Co. now owns 41,712 shares of the specialty retailer’s stock worth $3,118,000 after buying an additional 22,251 shares during the last quarter. 80.62% of the stock is owned by institutional investors and hedge funds.
TSCO has been the subject of a number of research analyst reports. Oppenheimer raised shares of Tractor Supply from a “market perform” rating to an “outperform” rating and set a $80.00 price target for the company in a report on Friday, April 27th. Wedbush raised their target price on shares of Tractor Supply from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Friday, April 27th. BidaskClub raised shares of Tractor Supply from a “hold” rating to a “buy” rating in a report on Thursday, May 17th. Royal Bank of Canada reduced their target price on shares of Tractor Supply to $64.00 and set a “market perform” rating for the company in a report on Tuesday, April 24th. Finally, Wells Fargo & Co set a $72.00 target price on shares of Tractor Supply and gave the stock a “buy” rating in a report on Thursday, April 26th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $72.90.
TSCO stock opened at $75.61 on Wednesday. The firm has a market cap of $9.22 billion, a P/E ratio of 22.71, a PEG ratio of 1.38 and a beta of 1.28. The company has a current ratio of 1.96, a quick ratio of 0.22 and a debt-to-equity ratio of 0.54. Tractor Supply has a one year low of $49.87 and a one year high of $82.68.
Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, April 26th. The specialty retailer reported $0.57 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.57. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.70 billion. Tractor Supply had a net margin of 5.88% and a return on equity of 31.99%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the business earned $0.46 earnings per share. research analysts predict that Tractor Supply will post 4.08 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 12th. Investors of record on Tuesday, May 29th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend was Friday, May 25th. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.27. Tractor Supply’s dividend payout ratio (DPR) is currently 37.24%.
Tractor Supply Profile
Tractor Supply Company operates rural lifestyle retail stores 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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