Commonwealth Financial Services LLC Takes Position in Tractor Supply (NASDAQ:TSCO)

Commonwealth Financial Services LLC bought a new position in shares of Tractor Supply (NASDAQ:TSCO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 825 shares of the specialty retailer’s stock, valued at approximately $215,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Signature Wealth Management Group lifted its position in Tractor Supply by 0.5% during the 2nd quarter. Signature Wealth Management Group now owns 6,999 shares of the specialty retailer’s stock worth $1,890,000 after acquiring an additional 38 shares during the period. X Square Capital LLC increased its stake in Tractor Supply by 1.6% in the 2nd quarter. X Square Capital LLC now owns 2,579 shares of the specialty retailer’s stock valued at $696,000 after buying an additional 41 shares during the period. Eads & Heald Wealth Management boosted its holdings in shares of Tractor Supply by 0.6% in the second quarter. Eads & Heald Wealth Management now owns 7,040 shares of the specialty retailer’s stock valued at $1,901,000 after acquiring an additional 42 shares in the last quarter. Whittier Trust Co. boosted its holdings in shares of Tractor Supply by 60.9% in the second quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock valued at $30,000 after acquiring an additional 42 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of Tractor Supply by 1.2% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,464 shares of the specialty retailer’s stock worth $935,000 after acquiring an additional 42 shares during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Trading Up 0.7 %

Shares of TSCO stock opened at $276.85 on Tuesday. Tractor Supply has a 1-year low of $185.00 and a 1-year high of $290.38. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.43 and a quick ratio of 0.25. The firm’s 50-day simple moving average is $268.15 and its 200-day simple moving average is $267.08. The firm has a market cap of $29.85 billion, a P/E ratio of 26.96, a PEG ratio of 3.56 and a beta of 0.80.

Tractor Supply (NASDAQ:TSCO) last announced 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 company had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $4.28 billion. Tractor Supply had a net margin of 7.65% and a return on equity of 51.84%. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the company earned $3.83 EPS. As a group, equities analysts forecast that Tractor Supply will post 10.23 EPS for the current year.

Tractor Supply Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were issued a $1.10 dividend. The ex-dividend date was Monday, August 26th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.59%. Tractor Supply’s dividend payout ratio (DPR) is 42.84%.

Insider Activity

In related news, SVP Matthew L. Rubin sold 540 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $262.35, for a total transaction of $141,669.00. Following the completion of the sale, the senior vice president now owns 5,170 shares of the company’s stock, valued at approximately $1,356,349.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TSCO. Evercore ISI lowered their price objective on Tractor Supply from $290.00 to $280.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Wedbush restated a “neutral” rating and issued a $270.00 price target on shares of Tractor Supply in a research note on Friday, July 26th. Telsey Advisory Group reiterated an “outperform” rating and issued a $305.00 price objective on shares of Tractor Supply in a research report on Thursday, July 25th. Wells Fargo & Company boosted their target price on shares of Tractor Supply from $285.00 to $295.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. Finally, Truist Financial increased their price target on shares of Tractor Supply from $289.00 to $293.00 and gave the company a “buy” rating in a report on Friday, July 26th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Tractor Supply currently has a consensus rating of “Hold” and an average target price of $258.96.

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.