Cetera Investment Advisers Takes $225,000 Position in Tractor Supply (TSCO)
Cetera Investment Advisers bought a new position in Tractor Supply (NASDAQ:TSCO) during the first quarter, according to its most recent 13F filing with the SEC. The fund bought 2,309 shares of the specialty retailer’s stock, valued at approximately $225,000.
Several other institutional investors have also bought and sold shares of the company. Nissay Asset Management Corp Japan ADV increased its holdings in shares of Tractor Supply by 3.1% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 12,497 shares of the specialty retailer’s stock worth $1,222,000 after buying an additional 374 shares during the last quarter. Kovack Advisors Inc. bought a new position in Tractor Supply during the 1st quarter valued at about $216,000. Stephens Inc. AR grew its holdings in Tractor Supply by 4.9% during the 1st quarter. Stephens Inc. AR now owns 37,580 shares of the specialty retailer’s stock valued at $3,674,000 after purchasing an additional 1,751 shares during the last quarter. Bbva Compass Bancshares Inc. grew its holdings in Tractor Supply by 13.3% during the 1st quarter. Bbva Compass Bancshares Inc. now owns 3,223 shares of the specialty retailer’s stock valued at $315,000 after purchasing an additional 379 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Tractor Supply by 118.8% during the 1st quarter. Victory Capital Management Inc. now owns 679,665 shares of the specialty retailer’s stock valued at $66,444,000 after purchasing an additional 369,053 shares during the last quarter. Hedge funds and other institutional investors own 83.54% of the company’s stock.
Shares of TSCO stock opened at $101.04 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.15 and a current ratio of 1.58. The stock has a market capitalization of $11.97 billion, a price-to-earnings ratio of 23.44, a P/E/G ratio of 1.84 and a beta of 1.11. Tractor Supply has a one year low of $70.75 and a one year high of $107.98.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 28th will be paid a $0.35 dividend. This is an increase from Tractor Supply’s previous quarterly dividend of $0.31. This represents a $1.40 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Friday, May 24th. Tractor Supply’s dividend payout ratio is currently 28.77%.
TSCO has been the topic of several analyst reports. Zacks Investment Research downgraded shares of Tractor Supply from a “buy” rating to a “hold” rating in a report on Saturday, January 26th. Credit Suisse Group reiterated a “hold” rating and set a $85.00 price target on shares of Tractor Supply in a report on Tuesday, January 29th. Wells Fargo & Co reiterated a “buy” rating and set a $102.00 price target on shares of Tractor Supply in a report on Monday, February 11th. BidaskClub upgraded shares of Tractor Supply from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 13th. Finally, Evercore ISI initiated coverage on shares of Tractor Supply in a report on Wednesday, March 20th. They set an “outperform” rating and a $105.00 price target on the stock. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Tractor Supply presently has an average rating of “Hold” and a consensus price target of $98.42.
In other Tractor Supply news, CEO Gregory A. Sandfort sold 25,896 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $95.00, for a total value of $2,460,120.00. Following the transaction, the chief executive officer now directly owns 117,554 shares in the company, valued at approximately $11,167,630. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gregory A. Sandfort sold 74,667 shares of the company’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $105.00, for a total transaction of $7,840,035.00. Following the completion of the transaction, the chief executive officer now owns 166,325 shares in the company, valued at $17,464,125. The disclosure for this sale can be found here. Insiders sold a total of 375,062 shares of company stock worth $37,903,170 over the last 90 days. Insiders own 1.50% of the company’s stock.
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About Tractor Supply
Tractor Supply Company operates rural lifestyle retail stores in the United States. The company offers a selection of merchandise, including equine, livestock, pet, and small animal products necessary for their health, care, growth, and containment; hardware, truck, towing, and tool products; seasonal products, such as heating products, lawn and garden items, power equipment, gifts, and toys; work/recreational clothing and footwear; and maintenance products for agricultural and rural use.
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