Tractor Supply (NASDAQ:TSCO) Stock Position Lessened by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc reduced its stake in shares of Tractor Supply (NASDAQ:TSCO) by 7.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,947 shares of the specialty retailer’s stock after selling 2,766 shares during the quarter. Tractor Supply comprises about 0.8% of Marks Group Wealth Management Inc’s investment portfolio, making the stock its 25th largest holding. Marks Group Wealth Management Inc’s holdings in Tractor Supply were worth $6,138,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Select Equity Group L.P. boosted its stake in Tractor Supply by 1.6% during the 1st quarter. Select Equity Group L.P. now owns 3,559,706 shares of the specialty retailer’s stock valued at $630,353,000 after purchasing an additional 54,372 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Tractor Supply by 156,985.0% during the first quarter. Clearbridge Investments LLC now owns 3,141,699 shares of the specialty retailer’s stock valued at $556,332,000 after buying an additional 3,139,699 shares in the last quarter. Geode Capital Management LLC grew its holdings in Tractor Supply by 2.5% during the first quarter. Geode Capital Management LLC now owns 2,036,378 shares of the specialty retailer’s stock worth $359,667,000 after acquiring an additional 49,122 shares during the period. Maj Invest Holding A S raised its position in Tractor Supply by 1.2% in the second quarter. Maj Invest Holding A S now owns 1,774,695 shares of the specialty retailer’s stock worth $330,199,000 after acquiring an additional 21,819 shares in the last quarter. Finally, Amundi Asset Management US Inc. lifted its holdings in Tractor Supply by 54.1% in the 1st quarter. Amundi Asset Management US Inc. now owns 1,230,204 shares of the specialty retailer’s stock valued at $217,937,000 after acquiring an additional 431,951 shares during the last quarter. 86.68% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:TSCO traded down $0.23 during trading on Wednesday, hitting $205.03. 17,999 shares of the stock were exchanged, compared to its average volume of 1,070,307. The company’s fifty day simple moving average is $190.95 and its 200-day simple moving average is $183.55. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.76 and a current ratio of 1.71. The company has a market capitalization of $23.44 billion, a price-to-earnings ratio of 27.33, a price-to-earnings-growth ratio of 2.66 and a beta of 1.03. Tractor Supply has a 1-year low of $127.78 and a 1-year high of $207.54.

Tractor Supply (NASDAQ:TSCO) last posted its earnings results on Sunday, July 18th. The specialty retailer reported $3.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.94 by $0.25. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.48 billion. Tractor Supply had a net margin of 7.39% and a return on equity of 49.01%. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.90 earnings per share. On average, research analysts forecast that Tractor Supply will post 7.96 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 8th. Shareholders of record on Monday, August 23rd were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 20th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.01%. Tractor Supply’s payout ratio is presently 30.28%.

Several research firms recently commented on TSCO. Northcoast Research raised shares of Tractor Supply from a “neutral” rating to a “buy” rating and set a $220.00 target price for the company in a research note on Thursday, July 1st. Credit Suisse Group upped their price objective on shares of Tractor Supply from $180.00 to $190.00 and gave the company a “neutral” rating in a research note on Tuesday, July 20th. Piper Sandler lifted their target price on shares of Tractor Supply from $210.00 to $218.00 and gave the stock an “overweight” rating in a research report on Thursday, July 15th. Zacks Investment Research downgraded shares of Tractor Supply from a “buy” rating to a “hold” rating and set a $214.00 price target for the company. in a research report on Tuesday. Finally, Morgan Stanley lifted their price objective on shares of Tractor Supply from $190.00 to $195.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 20th. Eleven analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $193.73.

In related news, EVP John P. Ordus sold 19,429 shares of the business’s stock in a transaction that occurred on Friday, September 10th. The shares were sold at an average price of $205.00, for a total value of $3,982,945.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Jonathan S. Estep sold 3,786 shares of the stock in a transaction on Friday, August 20th. The shares were sold at an average price of $198.00, for a total value of $749,628.00. Following the completion of the transaction, the chief marketing officer now owns 9,455 shares in the company, valued at $1,872,090. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by insiders.

Tractor Supply Company Profile

Tractor Supply Co engages in the retail sale of farm and ranch products. It operates retail farm & ranch stores and focuses on supplying the lifestyle needs of recreational farmers and ranchers, as well as tradesmen and small businesses. The firm operates the retail stores under the names: Tractor Supply Company, Del’s Feed & Farm Supply, and Petsense.

See Also: Hold Rating

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

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