Prudential Financial Inc. lowered its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 20.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 141,481 shares of the specialty retailer’s stock after selling 35,380 shares during the quarter. Prudential Financial Inc.’s holdings in Tractor Supply were worth $8,916,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of TSCO. Amundi Pioneer Asset Management Inc. purchased a new position in Tractor Supply during the fourth quarter worth approximately $139,359,000. Alliancebernstein L.P. boosted its position in Tractor Supply by 180.8% during the fourth quarter. Alliancebernstein L.P. now owns 680,823 shares of the specialty retailer’s stock worth $50,892,000 after purchasing an additional 438,384 shares in the last quarter. Champlain Investment Partners LLC boosted its position in Tractor Supply by 52.9% during the fourth quarter. Champlain Investment Partners LLC now owns 932,075 shares of the specialty retailer’s stock worth $69,673,000 after purchasing an additional 322,655 shares in the last quarter. Element Capital Management LLC purchased a new position in Tractor Supply during the fourth quarter worth approximately $21,118,000. Finally, PGGM Investments purchased a new position in Tractor Supply during the fourth quarter worth approximately $18,688,000. Institutional investors own 80.51% of the company’s stock.
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NASDAQ:TSCO opened at $73.34 on Tuesday. Tractor Supply has a one year low of $49.87 and a one year high of $82.68. The company has a quick ratio of 0.22, a current ratio of 1.96 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $9.09 billion, a P/E ratio of 22.02, a P/E/G ratio of 1.36 and a beta of 1.27.
Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings results on Thursday, April 26th. The specialty retailer reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. Tractor Supply had a return on equity of 31.99% and a net margin of 5.88%. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter last year, the firm earned $0.46 earnings per share. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. equities research analysts anticipate that Tractor Supply will post 4.08 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 12th. Investors of record on Tuesday, May 29th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Friday, May 25th. This is a boost from Tractor Supply’s previous quarterly dividend of $0.27. Tractor Supply’s dividend payout ratio (DPR) is currently 37.24%.
A number of brokerages have issued reports on TSCO. Royal Bank of Canada increased their price target on Tractor Supply to $74.00 and gave the stock a “sector perform” rating in a research report on Monday, January 29th. Credit Suisse Group reiterated a “neutral” rating and set a $73.00 price target (up previously from $52.00) on shares of Tractor Supply in a research report on Monday, January 29th. Telsey Advisory Group reiterated a “market perform” rating and set a $76.00 price target (down previously from $83.00) on shares of Tractor Supply in a research report on Thursday, February 1st. TheStreet raised Tractor Supply from a “c+” rating to a “b-” rating in a report on Monday, May 21st. Finally, Piper Jaffray Companies reissued an “overweight” rating and set a $85.00 target price (up previously from $78.00) on shares of Tractor Supply in a report on Tuesday, May 22nd. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $72.90.
About Tractor Supply
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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