Garden State Investment Advisory Services LLC Boosts Stock Holdings in Tractor Supply (NASDAQ:TSCO)

Garden State Investment Advisory Services LLC increased its stake in Tractor Supply (NASDAQ:TSCO) by 8.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,736 shares of the specialty retailer’s stock after acquiring an additional 136 shares during the period. Garden State Investment Advisory Services LLC’s holdings in Tractor Supply were worth $469,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Skandinaviska Enskilda Banken AB publ increased its stake in shares of Tractor Supply by 7.5% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 22,949 shares of the specialty retailer’s stock worth $6,206,000 after buying an additional 1,600 shares during the period. Canada Pension Plan Investment Board grew its holdings in Tractor Supply by 109.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 22,746 shares of the specialty retailer’s stock worth $6,141,000 after acquiring an additional 11,863 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of Tractor Supply by 2.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 162,368 shares of the specialty retailer’s stock valued at $43,839,000 after purchasing an additional 3,378 shares during the last quarter. Trust Investment Advisors raised its holdings in shares of Tractor Supply by 11.1% in the 2nd quarter. Trust Investment Advisors now owns 7,339 shares of the specialty retailer’s stock valued at $1,982,000 after purchasing an additional 733 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its position in shares of Tractor Supply by 10.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 12,064 shares of the specialty retailer’s stock worth $3,257,000 after purchasing an additional 1,166 shares during the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Tractor Supply news, SVP Matthew L. Rubin sold 540 shares of Tractor Supply stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $262.35, for a total value of $141,669.00. Following the sale, the senior vice president now owns 5,170 shares of the company’s stock, valued at approximately $1,356,349.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.24% of the stock is currently owned by corporate insiders.

Tractor Supply Trading Up 0.3 %

Shares of TSCO stock opened at $274.89 on Friday. The company has a market capitalization of $29.64 billion, a P/E ratio of 26.77, a price-to-earnings-growth ratio of 3.56 and a beta of 0.80. The company has a current ratio of 1.43, a quick ratio of 0.25 and a debt-to-equity ratio of 0.76. The business’s 50 day moving average is $267.96 and its two-hundred day moving average is $266.49. Tractor Supply has a twelve month low of $185.00 and a twelve month high of $290.38.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share for the quarter, hitting the consensus estimate of $3.93. The firm had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.28 billion. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period last year, the company earned $3.83 earnings per share. Equities analysts forecast that Tractor Supply will post 10.23 EPS for the current year.

Tractor Supply Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were paid a dividend of $1.10 per share. The ex-dividend date was Monday, August 26th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.60%. Tractor Supply’s dividend payout ratio (DPR) is 42.84%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Truist Financial raised their price target on Tractor Supply from $289.00 to $293.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Wells Fargo & Company raised their target price on Tractor Supply from $285.00 to $295.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. Benchmark reaffirmed a “buy” rating and issued a $280.00 price target on shares of Tractor Supply in a report on Friday, July 26th. Evercore ISI cut their price objective on shares of Tractor Supply from $290.00 to $280.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Finally, Wedbush restated a “neutral” rating and issued a $270.00 target price on shares of Tractor Supply in a report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $256.72.

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.