Garden State Investment Advisory Services LLC Boosts Stock Holdings in Tractor Supply (NASDAQ:TSCO)

Garden State Investment Advisory Services LLC lifted its position in Tractor Supply (NASDAQ:TSCO) by 8.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,736 shares of the specialty retailer’s stock after purchasing an additional 136 shares during the period. Garden State Investment Advisory Services LLC’s holdings in Tractor Supply were worth $469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Brown Advisory Inc. grew its position in shares of Tractor Supply by 15.4% during the 4th quarter. Brown Advisory Inc. now owns 2,865 shares of the specialty retailer’s stock valued at $616,000 after acquiring an additional 383 shares during the period. D.A. Davidson & CO. grew its holdings in Tractor Supply by 339.0% in the fourth quarter. D.A. Davidson & CO. now owns 5,386 shares of the specialty retailer’s stock valued at $1,158,000 after purchasing an additional 4,159 shares during the period. Quest Partners LLC purchased a new stake in shares of Tractor Supply in the fourth quarter valued at approximately $221,000. EverSource Wealth Advisors LLC raised its stake in shares of Tractor Supply by 105.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 812 shares of the specialty retailer’s stock worth $175,000 after buying an additional 417 shares during the period. Finally, Hohimer Wealth Management LLC grew its stake in Tractor Supply by 2.0% in the 4th quarter. Hohimer Wealth Management LLC now owns 5,066 shares of the specialty retailer’s stock valued at $1,089,000 after acquiring an additional 99 shares during the period. 98.72% of the stock is owned by hedge funds and other institutional investors.

Tractor Supply Price Performance

NASDAQ:TSCO opened at $274.89 on Friday. Tractor Supply has a 52 week low of $185.00 and a 52 week high of $290.38. The stock’s fifty day moving average is $267.96 and its two-hundred day moving average is $266.49. The company has a market capitalization of $29.64 billion, a P/E ratio of 26.77, a P/E/G ratio of 3.56 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 issued its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $3.93. The firm had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.28 billion. Tractor Supply had a net margin of 7.65% and a return on equity of 51.84%. Tractor Supply’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $3.83 EPS. Equities analysts expect that Tractor Supply will post 10.23 EPS for the current year.

Tractor Supply Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were issued a $1.10 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $4.40 annualized dividend and a yield of 1.60%. Tractor Supply’s dividend payout ratio (DPR) is presently 42.84%.

Insider Buying and Selling at Tractor Supply

In other news, SVP Matthew L. Rubin sold 540 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $262.35, for a total transaction of $141,669.00. Following the completion of the transaction, the senior vice president now directly owns 5,170 shares in the company, valued at $1,356,349.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.24% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TSCO. Evercore ISI reduced their price objective on shares of Tractor Supply from $290.00 to $280.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Wedbush restated a “neutral” rating and set a $270.00 price target on shares of Tractor Supply in a research report on Friday, July 26th. Wells Fargo & Company lifted their price objective on Tractor Supply from $285.00 to $295.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. Loop Capital increased their target price on Tractor Supply from $250.00 to $260.00 and gave the company a “hold” rating in a report on Friday, September 6th. Finally, Benchmark reaffirmed a “buy” rating and issued a $280.00 price target on shares of Tractor Supply in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $256.72.

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.