Alps Advisors Inc. raised its position in Tractor Supply Company (NASDAQ:TSCO) by 14.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,626 shares of the specialty retailer’s stock after buying an additional 953 shares during the quarter. Alps Advisors Inc.’s holdings in Tractor Supply were worth $483,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Cim LLC lifted its stake in Tractor Supply by 3.0% in the third quarter. Cim LLC now owns 111,475 shares of the specialty retailer’s stock valued at $7,055,000 after buying an additional 3,260 shares during the last quarter. Bradley Foster & Sargent Inc. CT raised its stake in shares of Tractor Supply by 26.3% during the third quarter. Bradley Foster & Sargent Inc. CT now owns 16,325 shares of the specialty retailer’s stock worth $1,033,000 after purchasing an additional 3,400 shares during the last quarter. Reilly Herbert Faulkner III raised its stake in shares of Tractor Supply by 80.0% during the third quarter. Reilly Herbert Faulkner III now owns 83,792 shares of the specialty retailer’s stock worth $5,303,000 after purchasing an additional 37,242 shares during the last quarter. Minneapolis Portfolio Management Group LLC raised its stake in shares of Tractor Supply by 26.0% during the third quarter. Minneapolis Portfolio Management Group LLC now owns 489,399 shares of the specialty retailer’s stock worth $30,974,000 after purchasing an additional 100,891 shares during the last quarter. Finally, Jensen Investment Management Inc. purchased a new stake in shares of Tractor Supply during the third quarter worth approximately $374,000. Institutional investors own 95.57% of the company’s stock.
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Several equities research analysts have recently commented on TSCO shares. Bank of America Corporation restated a “buy” rating and set a $69.00 price target on shares of Tractor Supply in a research note on Tuesday, September 5th. Credit Suisse Group restated a “hold” rating and set a $54.00 price target on shares of Tractor Supply in a research note on Wednesday, September 13th. Zacks Investment Research cut Tractor Supply from a “hold” rating to a “sell” rating in a research note on Monday, October 16th. Loop Capital set a $55.00 price target on Tractor Supply and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Finally, Guggenheim restated a “buy” rating and set a $70.00 price target (down previously from $80.00) on shares of Tractor Supply in a research note on Thursday, July 27th. Sixteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $68.05.
Tractor Supply (NASDAQ:TSCO) last posted its earnings results on Wednesday, October 25th. The specialty retailer reported $0.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.04. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.68 billion. Tractor Supply had a return on equity of 31.25% and a net margin of 6.04%. Tractor Supply’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.67 earnings per share. equities research analysts forecast that Tractor Supply Company will post 3.28 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Monday, November 20th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Friday, November 17th. Tractor Supply’s payout ratio is currently 32.05%.
About Tractor Supply
Tractor Supply Company is an operator of rural lifestyle retail stores in the United States. The Company is focused on supplying the needs of recreational farmers and ranchers and others, as well as tradesmen and small businesses. It is engaged in the retail sale of products that support the rural lifestyle.
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