Clearbridge Investments LLC Has $109 Million Stock Position in Tractor Supply (NASDAQ:TSCO)

Clearbridge Investments LLC lifted its position in shares of Tractor Supply (NASDAQ:TSCO) by 67.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 403,710 shares of the specialty retailer’s stock after purchasing an additional 162,533 shares during the quarter. Clearbridge Investments LLC owned approximately 0.37% of Tractor Supply worth $109,002,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Future Financial Wealth Managment LLC acquired a new stake in Tractor Supply during the first quarter worth $26,000. Rise Advisors LLC lifted its holdings in shares of Tractor Supply by 157.1% during the 1st quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock worth $28,000 after acquiring an additional 66 shares during the period. LRI Investments LLC bought a new position in shares of Tractor Supply during the 1st quarter worth about $28,000. J.Safra Asset Management Corp increased its stake in Tractor Supply by 700.0% in the first quarter. J.Safra Asset Management Corp now owns 112 shares of the specialty retailer’s stock valued at $29,000 after acquiring an additional 98 shares during the period. Finally, Whittier Trust Co. increased its stake in 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 during the period. 98.72% of the stock is currently owned by institutional investors.

Tractor Supply Trading Up 1.4 %

Shares of TSCO opened at $295.14 on Wednesday. The stock’s fifty day simple moving average is $269.63 and its 200-day simple moving average is $268.50. The firm has a market capitalization of $31.84 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 3.59 and a beta of 0.80. Tractor Supply has a 12-month low of $185.00 and a 12-month high of $296.83. 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 data on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share for the quarter, hitting the consensus estimate of $3.93. The firm had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $4.28 billion. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted $3.83 EPS. As a group, research analysts predict that Tractor Supply will post 10.23 earnings per share for the current year.

Tractor Supply Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were paid a $1.10 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $4.40 dividend on an annualized basis and a yield of 1.49%. Tractor Supply’s payout ratio is presently 42.84%.

Insiders Place Their Bets

In other news, SVP Matthew L. Rubin sold 540 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $262.35, for a total value of $141,669.00. Following the completion of the sale, the senior vice president now directly owns 5,170 shares of the company’s stock, valued at approximately $1,356,349.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

TSCO has been the topic of a number of recent research reports. Wedbush reaffirmed a “neutral” rating and set a $270.00 price objective on shares of Tractor Supply in a report on Friday, July 26th. Wells Fargo & Company boosted their price target on Tractor Supply from $285.00 to $295.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. Truist Financial increased their price objective on Tractor Supply from $289.00 to $293.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Benchmark restated a “buy” rating and issued a $280.00 target price on shares of Tractor Supply in a research note on Monday. Finally, Loop Capital increased their target price on shares of Tractor Supply from $250.00 to $260.00 and gave the stock a “hold” rating in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Tractor Supply presently has a consensus rating of “Hold” and a consensus price target of $260.83.

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.