Palisade Asset Management LLC Has $11.06 Million Position in Tractor Supply (NASDAQ:TSCO)

Palisade Asset Management LLC trimmed its position in Tractor Supply (NASDAQ:TSCO) by 1.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,017 shares of the specialty retailer’s stock after selling 576 shares during the quarter. Palisade Asset Management LLC’s holdings in Tractor Supply were worth $11,060,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its position in shares of Tractor Supply by 527.7% in the second quarter. Assenagon Asset Management S.A. now owns 26,501 shares of the specialty retailer’s stock valued at $7,155,000 after buying an additional 22,279 shares in the last quarter. Ballentine Partners LLC raised its holdings in Tractor Supply by 2.1% in the 2nd quarter. Ballentine Partners LLC now owns 4,504 shares of the specialty retailer’s stock valued at $1,216,000 after acquiring an additional 93 shares in the last quarter. Silvant Capital Management LLC lifted its position in shares of Tractor Supply by 20.9% during the 3rd quarter. Silvant Capital Management LLC now owns 14,781 shares of the specialty retailer’s stock valued at $4,300,000 after acquiring an additional 2,556 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Tractor Supply by 12.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,330,621 shares of the specialty retailer’s stock worth $871,691,000 after purchasing an additional 368,859 shares in the last quarter. Finally, Cetera Investment Advisers increased its position in shares of Tractor Supply by 199.0% in the first quarter. Cetera Investment Advisers now owns 35,771 shares of the specialty retailer’s stock worth $9,362,000 after purchasing an additional 23,806 shares during the period. Institutional investors own 98.72% of the company’s stock.

Insiders Place Their Bets

In other Tractor Supply news, CFO Kurt D. Barton sold 23,532 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $295.64, for a total transaction of $6,957,000.48. Following the completion of the sale, the chief financial officer now owns 9,683 shares of the company’s stock, valued at approximately $2,862,682.12. This represents a 70.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.24% of the company’s stock.

Tractor Supply Price Performance

TSCO stock opened at $281.71 on Friday. The company has a market capitalization of $30.10 billion, a P/E ratio of 27.40, a PEG ratio of 3.43 and a beta of 0.82. The company has a fifty day moving average price of $284.18 and a 200-day moving average price of $275.47. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.17 and a current ratio of 1.48. Tractor Supply has a 52-week low of $197.00 and a 52-week high of $307.64.

Tractor Supply Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.56%. The ex-dividend date is Monday, November 25th. Tractor Supply’s dividend payout ratio is currently 42.80%.

Analyst Ratings Changes

A number of research firms recently commented on TSCO. Evercore ISI raised Tractor Supply from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 15th. DA Davidson upped their price target on shares of Tractor Supply from $300.00 to $325.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Mizuho increased their price target on shares of Tractor Supply from $250.00 to $270.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Wells Fargo & Company boosted their price objective on shares of Tractor Supply from $295.00 to $325.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Finally, Melius Research initiated coverage on Tractor Supply in a report on Monday, September 23rd. They issued a “buy” rating and a $315.00 target price on the stock. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Tractor Supply currently has an average rating of “Moderate Buy” and a consensus target price of $282.82.

About Tractor Supply

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.