Park Avenue Securities LLC Reduces Stake in Tractor Supply (NASDAQ:TSCO)

Park Avenue Securities LLC decreased its position in shares of Tractor Supply (NASDAQ:TSCO) by 16.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,556 shares of the specialty retailer’s stock after selling 308 shares during the quarter. Park Avenue Securities LLC’s holdings in Tractor Supply were worth $407,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Private Wealth Management Group LLC purchased a new stake in shares of Tractor Supply in the 4th quarter valued at approximately $27,000. Pinnacle Bancorp Inc. acquired a new stake in Tractor Supply during the fourth quarter worth $28,000. Rise Advisors LLC raised its position in Tractor Supply by 157.1% in the first quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock valued at $28,000 after purchasing an additional 66 shares during the period. VisionPoint Advisory Group LLC lifted its stake in shares of Tractor Supply by 105.6% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 148 shares of the specialty retailer’s stock valued at $30,000 after purchasing an additional 76 shares during the last quarter. Finally, Cetera Trust Company N.A purchased a new position in shares of Tractor Supply during the 4th quarter worth $38,000. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Trading Up 0.9 %

NASDAQ:TSCO opened at $270.00 on Friday. Tractor Supply has a 12-month low of $185.00 and a 12-month high of $290.38. The company has a current ratio of 1.40, a quick ratio of 0.19 and a debt-to-equity ratio of 0.83. The stock’s 50 day simple moving average is $274.91 and its 200-day simple moving average is $250.42. The firm has a market cap of $29.11 billion, a P/E ratio of 26.29, a PEG ratio of 3.48 and a beta of 0.83.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings data on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.13. The company had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.40 billion. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. Tractor Supply’s revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.65 EPS. Equities analysts anticipate that Tractor Supply will post 10.34 EPS for the current year.

Tractor Supply Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Tuesday, May 28th were issued a dividend of $1.10 per share. The ex-dividend date of this dividend was Friday, May 24th. This represents a $4.40 annualized dividend and a yield of 1.63%. Tractor Supply’s dividend payout ratio is currently 42.84%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Tractor Supply from $250.00 to $285.00 and gave the company an “overweight” rating in a report on Monday, March 25th. Piper Sandler increased their price objective on Tractor Supply from $265.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Truist Financial boosted their target price on Tractor Supply from $277.00 to $289.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. TD Cowen increased their price target on shares of Tractor Supply from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, Robert W. Baird boosted their price objective on shares of Tractor Supply from $260.00 to $285.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Tractor Supply has a consensus rating of “Hold” and an average price target of $254.17.

About Tractor Supply

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.