Neuberger Berman Group LLC trimmed its stake in shares of Tractor Supply (NASDAQ:TSCO) by 4.0% in the second quarter, HoldingsChannel.com reports. The fund owned 725,636 shares of the specialty retailer’s stock after selling 29,911 shares during the quarter. Neuberger Berman Group LLC’s holdings in Tractor Supply were worth $133,046,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. Kornitzer Capital Management Inc. KS lifted its position in shares of Tractor Supply by 0.3% during the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 178,119 shares of the specialty retailer’s stock worth $33,141,000 after buying an additional 563 shares during the last quarter. Mn Services Vermogensbeheer B.V. bought a new stake in shares of Tractor Supply during the 2nd quarter worth $13,383,000. Rafferty Asset Management LLC lifted its position in shares of Tractor Supply by 28.1% during the 2nd quarter. Rafferty Asset Management LLC now owns 6,531 shares of the specialty retailer’s stock worth $1,215,000 after buying an additional 1,432 shares during the last quarter. Parcion Private Wealth LLC lifted its position in shares of Tractor Supply by 22.3% during the 2nd quarter. Parcion Private Wealth LLC now owns 38,674 shares of the specialty retailer’s stock worth $7,196,000 after buying an additional 7,043 shares during the last quarter. Finally, abrdn plc lifted its position in shares of Tractor Supply by 275.4% during the 2nd quarter. abrdn plc now owns 163,330 shares of the specialty retailer’s stock worth $30,398,000 after buying an additional 119,818 shares during the last quarter. Hedge funds and other institutional investors own 86.68% of the company’s stock.
In other news, CMO Jonathan S. Estep sold 3,786 shares of the firm’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 value of $749,628.00. Following the transaction, the chief marketing officer now owns 9,455 shares in the company, valued at $1,872,090. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John P. Ordus sold 19,429 shares of the firm’s stock in a transaction that occurred on Friday, September 10th. The shares were 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 quarter, insiders sold 26,742 shares of company stock worth $5,456,913. Corporate insiders own 0.70% of the company’s stock.
Tractor Supply (NASDAQ:TSCO) last released its earnings results on Sunday, July 18th. The specialty retailer reported $3.19 EPS for the quarter, topping the consensus estimate of $2.94 by $0.25. Tractor Supply had a return on equity of 49.01% and a net margin of 7.39%. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.48 billion. During the same quarter last year, the firm posted $2.90 earnings per share. The firm’s revenue was up 13.4% on a year-over-year basis. Equities analysts expect that Tractor Supply will post 7.96 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 8th. Shareholders of record on Monday, August 23rd were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 20th. This represents a $2.08 annualized dividend and a yield of 1.07%. Tractor Supply’s payout ratio is currently 30.28%.
A number of equities analysts have issued reports on the company. Zacks Investment Research cut 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. Credit Suisse Group upped their target price on Tractor Supply from $180.00 to $190.00 and gave the stock a “neutral” rating in a report on Tuesday, July 20th. Benchmark assumed coverage on Tractor Supply in a report on Tuesday, August 3rd. They issued a “buy” rating and a $219.00 target price for the company. Piper Sandler upped their target price on Tractor Supply from $210.00 to $218.00 and gave the stock an “overweight” rating in a report on Thursday, July 15th. Finally, Northcoast Research raised Tractor Supply from a “neutral” rating to a “buy” rating and set a $220.00 target price for the company in a report on Thursday, July 1st. Ten research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target 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.
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