Schwab Charles Investment Management Inc. Increases Stake in Tractor Supply Company (TSCO)

Schwab Charles Investment Management Inc. grew its stake in shares of Tractor Supply Company (NASDAQ:TSCO) by 39.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 625,174 shares of the specialty retailer’s stock after purchasing an additional 175,956 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.50% of Tractor Supply worth $39,568,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Tractor Supply by 1.4% in the second quarter. Vanguard Group Inc. now owns 12,519,767 shares of the specialty retailer’s stock worth $678,696,000 after buying an additional 170,986 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Tractor Supply by 1.7% during the second quarter. BlackRock Inc. now owns 7,968,825 shares of the specialty retailer’s stock valued at $431,989,000 after purchasing an additional 133,235 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Tractor Supply by 1.8% during the third quarter. Bank of New York Mellon Corp now owns 6,413,006 shares of the specialty retailer’s stock valued at $405,879,000 after purchasing an additional 114,539 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Tractor Supply by 7,599.1% during the second quarter. Ameriprise Financial Inc. now owns 4,230,168 shares of the specialty retailer’s stock valued at $229,319,000 after purchasing an additional 4,175,224 shares during the last quarter. Finally, Fiera Capital Corp raised its holdings in shares of Tractor Supply by 14.9% during the second quarter. Fiera Capital Corp now owns 3,700,846 shares of the specialty retailer’s stock valued at $200,623,000 after purchasing an additional 480,717 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Tractor Supply Company (NASDAQ TSCO) opened at $67.66 on Friday. The stock has a market cap of $8,414.07, a price-to-earnings ratio of 19.88, a P/E/G ratio of 1.46 and a beta of 1.32. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.17 and a current ratio of 2.00. Tractor Supply Company has a 12 month low of $49.87 and a 12 month high of $78.25.

Tractor Supply (NASDAQ:TSCO) last announced 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 business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.68 billion. Tractor Supply had a net margin of 6.04% and a return on equity of 31.25%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.67 earnings per share. equities analysts forecast that Tractor Supply Company will post 3.28 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 5th. Stockholders of record on Monday, November 20th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date was Friday, November 17th. Tractor Supply’s payout ratio is presently 32.05%.

TSCO has been the subject of several research reports. Robert W. Baird set a $62.00 price objective on shares of Tractor Supply and gave the company a “buy” rating in a report on Friday, August 25th. Bank of America reissued a “buy” rating and set a $69.00 price objective on shares of Tractor Supply in a report on Tuesday, September 5th. Credit Suisse Group reissued a “hold” rating and set a $54.00 price objective on shares of Tractor Supply in a report on Wednesday, September 13th. Zacks Investment Research upgraded shares of Tractor Supply from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Finally, BMO Capital Markets boosted their target price on shares of Tractor Supply from $58.00 to $61.00 and gave the company a “market perform” rating in a research report on Wednesday, September 27th. Seventeen analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Tractor Supply has a consensus rating of “Hold” and an average target price of $66.26.

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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.

Institutional Ownership by Quarter for Tractor Supply (NASDAQ:TSCO)

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