Congress Wealth Management LLC DE Increases Stock Holdings in Tractor Supply (NASDAQ:TSCO)

Congress Wealth Management LLC DE lifted its stake in shares of Tractor Supply (NASDAQ:TSCO) by 1.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 73,329 shares of the specialty retailer’s stock after buying an additional 1,339 shares during the period. Congress Wealth Management LLC DE owned about 0.07% of Tractor Supply worth $19,192,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Tractor Supply by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 12,804,873 shares of the specialty retailer’s stock valued at $2,753,432,000 after buying an additional 48,439 shares during the last quarter. Capital International Investors lifted its holdings in Tractor Supply by 7.6% during the fourth quarter. Capital International Investors now owns 6,233,852 shares of the specialty retailer’s stock worth $1,340,589,000 after acquiring an additional 439,954 shares during the period. Capital World Investors lifted its holdings in Tractor Supply by 10.0% during the fourth quarter. Capital World Investors now owns 5,849,188 shares of the specialty retailer’s stock worth $1,257,751,000 after acquiring an additional 531,170 shares during the period. Wellington Management Group LLP raised its stake in shares of Tractor Supply by 63.2% in the fourth quarter. Wellington Management Group LLP now owns 4,606,455 shares of the specialty retailer’s stock valued at $990,526,000 after buying an additional 1,784,304 shares during the period. Finally, Stifel Financial Corp raised its stake in shares of Tractor Supply by 0.4% in the fourth quarter. Stifel Financial Corp now owns 1,589,461 shares of the specialty retailer’s stock valued at $341,793,000 after buying an additional 6,879 shares during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Wall Street Analyst Weigh In

TSCO has been the topic of several research reports. Truist Financial boosted their target price on Tractor Supply from $277.00 to $289.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Wedbush restated a “neutral” rating and issued a $235.00 target price on shares of Tractor Supply in a research note on Tuesday, April 23rd. Mizuho restated a “neutral” rating and issued a $250.00 target price (up from $245.00) on shares of Tractor Supply in a research note on Friday, April 26th. Wells Fargo & Company boosted their price objective on Tractor Supply from $250.00 to $285.00 and gave the company an “overweight” rating in a research note on Monday, March 25th. Finally, Morgan Stanley boosted their price objective on Tractor Supply from $195.00 to $235.00 and gave the company an “underweight” rating in a research note on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $254.17.

Tractor Supply Price Performance

Shares of TSCO traded down $2.26 during midday trading on Monday, reaching $267.74. The stock had a trading volume of 1,013,845 shares, compared to its average volume of 1,163,091. The company’s 50-day moving average is $275.20 and its 200 day moving average is $250.94. Tractor Supply has a 12-month low of $185.00 and a 12-month high of $290.38. The company has a current ratio of 1.40, a quick ratio of 0.19 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $28.87 billion, a price-to-earnings ratio of 26.07, a price-to-earnings-growth ratio of 3.51 and a beta of 0.81.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share (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 analysts’ expectations of $3.40 billion. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.65 EPS. On average, equities analysts predict that Tractor Supply will post 10.34 EPS for the current fiscal year.

Tractor Supply Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 28th were given a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend was Friday, May 24th. Tractor Supply’s dividend payout ratio is currently 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.