LPL Financial LLC Increases Stock Position in Tractor Supply (NASDAQ:TSCO)

LPL Financial LLC raised its position in shares of Tractor Supply (NASDAQ:TSCO) by 2.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 150,504 shares of the specialty retailer’s stock after buying an additional 3,224 shares during the period. LPL Financial LLC owned about 0.14% of Tractor Supply worth $40,636,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Future Financial Wealth Managment LLC purchased a new stake in shares of Tractor Supply in the 1st quarter worth about $26,000. Rise Advisors LLC lifted its position in shares of Tractor Supply by 157.1% in the 1st quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock worth $28,000 after purchasing an additional 66 shares during the period. LRI Investments LLC purchased a new stake in shares of Tractor Supply in the 1st quarter worth about $28,000. J.Safra Asset Management Corp lifted its position in shares of Tractor Supply by 700.0% in the 1st quarter. J.Safra Asset Management Corp now owns 112 shares of the specialty retailer’s stock worth $29,000 after purchasing an additional 98 shares during the period. Finally, Whittier Trust Co. lifted its position in shares of Tractor Supply by 60.9% in the 2nd quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock worth $30,000 after purchasing an additional 42 shares during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Stock Performance

Shares of TSCO stock opened at $282.96 on Monday. The company has a 50 day moving average price of $266.57 and a 200-day moving average price of $266.00. Tractor Supply has a 52 week low of $185.00 and a 52 week high of $290.38. The firm has a market capitalization of $30.51 billion, a PE ratio of 27.55, a P/E/G ratio of 3.51 and a beta of 0.80. The company has a quick ratio of 0.25, a current ratio of 1.43 and a debt-to-equity ratio of 0.76.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, July 25th. The specialty retailer reported $3.93 EPS for the quarter, hitting analysts’ consensus estimates of $3.93. Tractor Supply had a net margin of 7.65% and a return on equity of 51.84%. The firm had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.28 billion. During the same period in the previous year, the business posted $3.83 earnings per share. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, equities research analysts expect that Tractor Supply will post 10.23 earnings per share for the current year.

Tractor Supply Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date was Monday, August 26th. Tractor Supply’s payout ratio is 42.84%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TSCO shares. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $305.00 target price on shares of Tractor Supply in a research report on Thursday, July 25th. Truist Financial increased their price target on shares of Tractor Supply from $289.00 to $293.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Loop Capital increased their price target on shares of Tractor Supply from $250.00 to $260.00 and gave the stock a “hold” rating in a research note on Friday, September 6th. Wells Fargo & Company increased their price target on shares of Tractor Supply from $285.00 to $295.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. Finally, Wedbush reiterated a “neutral” rating and issued a $270.00 price target on shares of Tractor Supply in a research note on Friday, July 26th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Tractor Supply has an average rating of “Hold” and an average price target of $256.72.

Insider Buying and Selling

In related news, SVP Matthew L. Rubin sold 540 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $262.35, for a total value of $141,669.00. Following the transaction, the senior vice president now owns 5,170 shares of the company’s stock, valued at $1,356,349.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.24% of the stock is currently owned by insiders.

Tractor Supply Company Profile

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.