Wealthcare Advisory Partners LLC Makes New Investment in Tractor Supply (NASDAQ:TSCO)

Wealthcare Advisory Partners LLC purchased a new stake in Tractor Supply (NASDAQ:TSCO) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,269 shares of the specialty retailer’s stock, valued at approximately $332,000.

A number of other hedge funds have also modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Tractor Supply in the third quarter worth $407,000. O Shaughnessy Asset Management LLC lifted its holdings in 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 acquiring an additional 2,907 shares in the last quarter. Bank of Nova Scotia grew its stake in Tractor Supply by 13.0% in the third quarter. Bank of Nova Scotia now owns 12,133 shares of the specialty retailer’s stock valued at $2,464,000 after acquiring an additional 1,395 shares during the period. Toronto Dominion Bank grew its stake 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 acquiring an additional 830 shares during the period. Finally, Hodges Capital Management Inc. bought a new stake in shares of Tractor Supply in the third quarter worth about $278,000. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Tractor Supply Price Performance

Shares of NASDAQ TSCO opened at $270.00 on Monday. The business’s 50 day moving average is $274.91 and its 200-day moving average is $250.63. The firm has a market cap of $29.11 billion, a P/E ratio of 26.29, a price-to-earnings-growth ratio of 3.51 and a beta of 0.81. Tractor Supply has a 1-year low of $185.00 and a 1-year 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.

Tractor Supply (NASDAQ:TSCO) last posted its earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates 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 last year, the firm earned $1.65 earnings per share. The company’s revenue was up 2.8% on a year-over-year basis. Equities research analysts predict that Tractor Supply will post 10.34 earnings per share for the current year.

Tractor Supply Announces Dividend

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

Analyst Ratings Changes

Several brokerages recently issued reports on TSCO. Wedbush reiterated a “neutral” rating and issued a $235.00 price objective on shares of Tractor Supply in a research report on Tuesday, April 23rd. Truist Financial increased their price objective on shares of Tractor Supply from $277.00 to $289.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Barclays raised their price objective on shares of Tractor Supply from $234.00 to $240.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Mizuho reaffirmed 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. Finally, JPMorgan Chase & Co. lifted their price target on Tractor Supply from $241.00 to $263.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Tractor Supply currently has an average rating of “Hold” and an average target price of $254.17.

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.