Hennion & Walsh Asset Management Inc. Has $1.66 Million Stake in Tractor Supply (NASDAQ:TSCO)

Hennion & Walsh Asset Management Inc. lessened its stake in Tractor Supply (NASDAQ:TSCO) by 2.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,335 shares of the specialty retailer’s stock after selling 188 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Tractor Supply were worth $1,658,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Tractor Supply during the 3rd quarter valued at approximately $407,000. O Shaughnessy Asset Management LLC increased its position in shares of Tractor Supply by 72.0% during the third quarter. O Shaughnessy Asset Management LLC now owns 6,942 shares of the specialty retailer’s stock worth $1,410,000 after buying an additional 2,907 shares during the period. Bank of Nova Scotia raised its stake in Tractor Supply by 13.0% during the third quarter. Bank of Nova Scotia now owns 12,133 shares of the specialty retailer’s stock worth $2,464,000 after buying an additional 1,395 shares during the last quarter. Toronto Dominion Bank lifted its holdings in Tractor Supply by 1.5% in the third quarter. Toronto Dominion Bank now owns 55,824 shares of the specialty retailer’s stock valued at $11,335,000 after buying an additional 830 shares during the period. Finally, Sherbrooke Park Advisers LLC bought a new stake in Tractor Supply during the third quarter valued at $425,000. Institutional investors and hedge funds own 98.72% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TSCO. Wedbush reissued a “neutral” rating and issued a $235.00 price objective on shares of Tractor Supply in a research note on Tuesday, April 23rd. Robert W. Baird boosted their price target on Tractor Supply from $260.00 to $285.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Evercore ISI raised their price objective on shares of Tractor Supply from $290.00 to $295.00 and gave the stock an “outperform” rating in a research report on Thursday, June 20th. Raymond James boosted their target price on shares of Tractor Supply from $250.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Finally, Morgan Stanley raised their price target on shares of Tractor Supply from $195.00 to $235.00 and gave the stock an “underweight” rating in a report on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $254.17.

Tractor Supply Trading Up 0.9 %

Shares of Tractor Supply stock opened at $270.00 on Friday. The firm has a market cap of $29.11 billion, a PE ratio of 26.29, a P/E/G ratio of 3.51 and a beta of 0.83. The stock has a fifty day moving average price of $274.91 and a 200-day moving average price of $250.42. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.40 and a quick ratio of 0.19. Tractor Supply has a 1 year low of $185.00 and a 1 year high of $290.38.

Tractor Supply (NASDAQ:TSCO) last released its earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.13. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The firm had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same period in the previous year, the company earned $1.65 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. Equities research analysts anticipate that Tractor Supply will post 10.34 EPS for the current year.

Tractor Supply Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 28th were issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.63%. The ex-dividend date was Friday, May 24th. Tractor Supply’s dividend payout ratio (DPR) is presently 42.84%.

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.