Kesler Norman & Wride LLC Decreases Position in Tractor Supply (NASDAQ:TSCO)

Kesler Norman & Wride LLC trimmed its position in shares of Tractor Supply (NASDAQ:TSCO) by 8.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,950 shares of the specialty retailer’s stock after selling 478 shares during the quarter. Kesler Norman & Wride LLC’s holdings in Tractor Supply were worth $1,296,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of TSCO. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Tractor Supply in the third quarter worth $407,000. Bank of Nova Scotia raised its holdings in shares of Tractor Supply by 13.0% in the third quarter. Bank of Nova Scotia now owns 12,133 shares of the specialty retailer’s stock worth $2,464,000 after acquiring an additional 1,395 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Tractor Supply by 14.8% in the third quarter. AQR Capital Management LLC now owns 25,162 shares of the specialty retailer’s stock worth $5,109,000 after acquiring an additional 3,251 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Tractor Supply by 11.1% in the third quarter. Advisors Asset Management Inc. now owns 25,458 shares of the specialty retailer’s stock worth $5,169,000 after acquiring an additional 2,548 shares during the last quarter. Finally, Axxcess Wealth Management LLC raised its holdings in shares of Tractor Supply by 14.3% in the third quarter. Axxcess Wealth Management LLC now owns 10,324 shares of the specialty retailer’s stock worth $2,096,000 after acquiring an additional 1,293 shares during the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TSCO. Benchmark reissued a “buy” rating and issued a $256.00 price target on shares of Tractor Supply in a report on Monday, April 22nd. Telsey Advisory Group boosted their price target on Tractor Supply from $280.00 to $305.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Mizuho reiterated 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. Truist Financial upped 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. Finally, TD Cowen upped their target price on Tractor Supply from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Two equities 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 stock has an average rating of “Hold” and an average target price of $253.96.

Tractor Supply Stock Down 1.6 %

Shares of NASDAQ TSCO traded down $4.38 on Thursday, hitting $261.65. The company had a trading volume of 766,488 shares, compared to its average volume of 1,191,608. Tractor Supply has a 12-month low of $185.00 and a 12-month high of $290.38. The business has a 50 day moving average of $275.40 and a two-hundred day moving average of $251.43. The company has a quick ratio of 0.19, a current ratio of 1.40 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $28.21 billion, a P/E ratio of 25.48, a PEG ratio of 3.46 and a beta of 0.81.

Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.13. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. The company had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the prior year, the business earned $1.65 earnings per share. The company’s revenue was up 2.8% compared to the same quarter last year. As a group, equities research analysts forecast that Tractor Supply will post 10.34 earnings per share for the current fiscal year.

Tractor Supply Announces Dividend

The business 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 1.68%. The ex-dividend date of this dividend was Friday, May 24th. Tractor Supply’s 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.