First Trust Direct Indexing L.P. Boosts Stake in Tractor Supply (NASDAQ:TSCO)

First Trust Direct Indexing L.P. boosted its holdings in Tractor Supply (NASDAQ:TSCO) by 19.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 4,266 shares of the specialty retailer’s stock after acquiring an additional 689 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Tractor Supply were worth $1,241,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Valmark Advisers Inc. lifted its stake in shares of Tractor Supply by 31.1% in the third quarter. Valmark Advisers Inc. now owns 2,212 shares of the specialty retailer’s stock valued at $644,000 after purchasing an additional 525 shares during the period. Traynor Capital Management Inc. lifted its position in shares of Tractor Supply by 3.4% during the 3rd quarter. Traynor Capital Management Inc. now owns 13,983 shares of the specialty retailer’s stock valued at $4,068,000 after acquiring an additional 462 shares during the period. abrdn plc boosted its stake in shares of Tractor Supply by 0.3% during the 3rd quarter. abrdn plc now owns 116,036 shares of the specialty retailer’s stock worth $33,508,000 after acquiring an additional 402 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Tractor Supply by 8.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 30,602 shares of the specialty retailer’s stock worth $8,903,000 after acquiring an additional 2,405 shares during the period. Finally, TCI Wealth Advisors Inc. increased its stake in Tractor Supply by 5.1% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 846 shares of the specialty retailer’s stock valued at $246,000 after purchasing an additional 41 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Analysts Set New Price Targets

TSCO has been the topic of several research reports. Benchmark upped their target price on Tractor Supply from $280.00 to $310.00 and gave the company a “buy” rating in a report on Monday. Raymond James increased their price objective on shares of Tractor Supply from $285.00 to $290.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Wells Fargo & Company lifted their target price on shares of Tractor Supply from $295.00 to $325.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. UBS Group raised their price objective on Tractor Supply from $272.00 to $280.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Finally, Robert W. Baird set a $320.00 target price on Tractor Supply in a research note on Thursday, October 17th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $279.00.

Insiders Place Their Bets

In other Tractor Supply news, CFO Kurt D. Barton sold 23,532 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $295.64, for a total value of $6,957,000.48. Following the completion of the sale, the chief financial officer now directly owns 9,683 shares of the company’s stock, valued at approximately $2,862,682.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Tractor Supply news, SVP Matthew L. Rubin sold 540 shares of the company’s stock in a transaction 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 transaction, the senior vice president now owns 5,170 shares of the company’s stock, valued at approximately $1,356,349.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kurt D. Barton sold 23,532 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total value of $6,957,000.48. Following the sale, the chief financial officer now directly owns 9,683 shares of the company’s stock, valued at approximately $2,862,682.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.

Tractor Supply Stock Performance

Shares of TSCO stock opened at $265.51 on Friday. The business has a 50 day simple moving average of $282.48 and a 200 day simple moving average of $273.54. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.48 and a quick ratio of 0.17. The firm has a market capitalization of $28.64 billion, a price-to-earnings ratio of 25.83, a price-to-earnings-growth ratio of 3.36 and a beta of 0.80. Tractor Supply has a 12-month low of $188.07 and a 12-month high of $307.64.

Tractor Supply Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were issued a dividend of $1.10 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $4.40 annualized dividend and a yield of 1.66%. Tractor Supply’s payout ratio is 42.80%.

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.