Meeder Advisory Services Inc. Raises Stake in Tractor Supply (NASDAQ:TSCO)

Meeder Advisory Services Inc. increased its stake in shares of Tractor Supply (NASDAQ:TSCO) by 37.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,208 shares of the specialty retailer’s stock after buying an additional 604 shares during the period. Meeder Advisory Services Inc.’s holdings in Tractor Supply were worth $596,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Avantax Advisory Services Inc. lifted its position in shares of Tractor Supply by 1.9% during the 4th quarter. Avantax Advisory Services Inc. now owns 5,056 shares of the specialty retailer’s stock valued at $1,087,000 after buying an additional 95 shares during the last quarter. Panagora Asset Management Inc. lifted its holdings in Tractor Supply by 147.9% during the fourth quarter. Panagora Asset Management Inc. now owns 5,932 shares of the specialty retailer’s stock valued at $1,276,000 after purchasing an additional 3,539 shares during the last quarter. Kingsview Wealth Management LLC boosted its position in Tractor Supply by 0.8% during the fourth quarter. Kingsview Wealth Management LLC now owns 9,711 shares of the specialty retailer’s stock worth $2,088,000 after purchasing an additional 76 shares during the period. Private Wealth Management Group LLC purchased a new position in shares of Tractor Supply in the fourth quarter worth about $27,000. Finally, Great Lakes Advisors LLC raised its position in shares of Tractor Supply by 29.5% in the fourth quarter. Great Lakes Advisors LLC now owns 4,122 shares of the specialty retailer’s stock valued at $886,000 after purchasing an additional 938 shares during the period. Institutional investors own 98.72% of the company’s stock.

Insider Activity

In related news, SVP Matthew L. Rubin sold 540 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $262.35, for a total value of $141,669.00. Following the completion of the transaction, the senior vice president now directly owns 5,170 shares in the company, valued at approximately $1,356,349.50. The sale 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.

Analysts Set New Price Targets

Several research analysts recently commented on TSCO shares. Wedbush reaffirmed a “neutral” rating and issued a $270.00 price objective on shares of Tractor Supply in a report on Friday, July 26th. Loop Capital boosted their price objective on Tractor Supply from $250.00 to $260.00 and gave the company a “hold” rating in a research note on Friday, September 6th. Truist Financial increased their price objective on Tractor Supply from $289.00 to $293.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $305.00 target price on shares of Tractor Supply in a report on Thursday, July 25th. Finally, Evercore ISI lowered their price target 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. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $256.72.

Tractor Supply Price Performance

Shares of Tractor Supply stock opened at $282.96 on Friday. The business has a 50 day moving average of $266.57 and a 200 day moving average of $265.90. Tractor Supply has a 52 week low of $185.00 and a 52 week high of $290.38. The company has a market cap of $30.52 billion, a PE ratio of 27.55, a P/E/G ratio of 3.51 and a beta of 0.80. The company has a quick ratio of 0.25, a current ratio of 1.43 and a debt-to-equity ratio of 0.76.

Tractor Supply (NASDAQ:TSCO) last posted its earnings results on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $3.93. The firm had revenue of $4.25 billion for 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 business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.83 EPS. As a group, equities research analysts forecast that Tractor Supply will post 10.23 earnings per share for the current year.

Tractor Supply Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend was Monday, August 26th. Tractor Supply’s dividend payout ratio is currently 42.84%.

Tractor Supply 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.