Raymond James & Associates Has $183.22 Million Stock Position in Tractor Supply (NASDAQ:TSCO)

Raymond James & Associates lifted its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 20.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 700,046 shares of the specialty retailer’s stock after buying an additional 121,218 shares during the period. Raymond James & Associates’ holdings in Tractor Supply were worth $183,216,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Future Financial Wealth Managment LLC bought a new stake in shares of Tractor Supply during the 1st quarter worth about $26,000. Rise Advisors LLC lifted its holdings in Tractor Supply by 157.1% in the 1st quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock worth $28,000 after purchasing an additional 66 shares during the last quarter. Private Wealth Management Group LLC bought a new stake in Tractor Supply during the fourth quarter worth approximately $27,000. OFI Invest Asset Management acquired a new position in Tractor Supply during the third quarter valued at approximately $25,000. Finally, Pinnacle Bancorp Inc. bought a new position in shares of Tractor Supply in the fourth quarter valued at approximately $28,000. 98.72% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tractor Supply

In related news, CFO Kurt D. Barton sold 401 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $232.06, for a total transaction of $93,056.06. Following the completion of the transaction, the chief financial officer now owns 25,013 shares of the company’s stock, valued at approximately $5,804,516.78. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Tractor Supply news, CFO Kurt D. Barton sold 401 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $232.06, for a total value of $93,056.06. Following the transaction, the chief financial officer now directly owns 25,013 shares of the company’s stock, valued at $5,804,516.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Colin Yankee sold 8,675 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $250.00, for a total value of $2,168,750.00. Following the completion of the sale, the executive vice president now owns 9,673 shares of the company’s stock, valued at approximately $2,418,250. The disclosure for this sale can be found here. In the last quarter, insiders sold 90,090 shares of company stock valued at $21,201,877. Corporate insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TSCO. Stephens downgraded Tractor Supply from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $226.00 to $240.00 in a research report on Tuesday, January 23rd. Morgan Stanley raised their target price on Tractor Supply from $195.00 to $235.00 and gave the company an “underweight” rating in a report on Friday. Guggenheim upped their price target on Tractor Supply from $210.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. The Goldman Sachs Group raised their price target on shares of Tractor Supply from $230.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Finally, Wedbush reaffirmed a “neutral” rating and set a $235.00 price objective on shares of Tractor Supply in a research report on Tuesday, April 23rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $248.17.

Tractor Supply Stock Performance

NASDAQ TSCO traded up $8.64 during trading hours on Friday, reaching $273.90. 1,599,528 shares of the company were exchanged, compared to its average volume of 1,032,605. Tractor Supply has a 1 year low of $185.00 and a 1 year high of $274.66. The business’s 50 day simple moving average is $252.44 and its 200-day simple moving average is $226.90. The stock has a market capitalization of $29.56 billion, a P/E ratio of 26.67, a P/E/G ratio of 4.10 and a beta of 0.84. The company has a quick ratio of 0.28, a current ratio of 1.40 and a debt-to-equity ratio of 0.83.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.13. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.40 billion. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period last year, the company earned $1.65 earnings per share. On average, equities research analysts expect that Tractor Supply will post 10.26 earnings per share for the current year.

Tractor Supply Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were issued a dividend of $1.10 per share. This is an increase from Tractor Supply’s previous quarterly dividend of $1.03. The ex-dividend date was Friday, February 23rd. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.61%. Tractor Supply’s dividend payout ratio is 42.84%.

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.