CIBC Asset Management Inc trimmed its position in Tractor Supply (NASDAQ:TSCO – Get Rating) by 4.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 24,380 shares of the specialty retailer’s stock after selling 1,018 shares during the period. CIBC Asset Management Inc’s holdings in Tractor Supply were worth $5,690,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of the company. State Street Corp raised its position in Tractor Supply by 3.5% during the 4th quarter. State Street Corp now owns 4,982,370 shares of the specialty retailer’s stock worth $1,188,793,000 after purchasing an additional 170,276 shares during the last quarter. Geode Capital Management LLC raised its position in Tractor Supply by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 2,159,527 shares of the specialty retailer’s stock worth $514,039,000 after purchasing an additional 58,409 shares during the last quarter. 1832 Asset Management L.P. grew its holdings in Tractor Supply by 7.8% during the 4th quarter. 1832 Asset Management L.P. now owns 1,775,800 shares of the specialty retailer’s stock worth $424,695,000 after acquiring an additional 128,590 shares during the period. Invesco Ltd. grew its holdings in Tractor Supply by 5.6% during the 4th quarter. Invesco Ltd. now owns 1,746,629 shares of the specialty retailer’s stock worth $416,747,000 after acquiring an additional 91,965 shares during the period. Finally, Norges Bank acquired a new stake in Tractor Supply during the 4th quarter worth about $263,044,000. 83.17% of the stock is currently owned by institutional investors.
In other news, Director Cynthia T. Jamison sold 5,200 shares of the company’s stock in a transaction dated Thursday, May 12th. The shares were sold at an average price of $195.10, for a total transaction of $1,014,520.00. Following the completion of the transaction, the director now directly owns 24,280 shares of the company’s stock, valued at $4,737,028. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.70% of the company’s stock.
Tractor Supply Stock Up 0.8 %
Tractor Supply (NASDAQ:TSCO – Get Rating) last announced its earnings results on Thursday, July 21st. The specialty retailer reported $3.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.02. The company had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.89 billion. Tractor Supply had a net margin of 7.76% and a return on equity of 53.29%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.19 earnings per share. On average, analysts predict that Tractor Supply will post 9.58 earnings per share for the current year.
Tractor Supply Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 8th. Stockholders of record on Wednesday, May 25th were paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend was Tuesday, May 24th. Tractor Supply’s dividend payout ratio (DPR) is 40.62%.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on TSCO shares. Piper Sandler set a $253.00 price target on Tractor Supply in a report on Tuesday, July 19th. Truist Financial raised their target price on Tractor Supply from $246.00 to $252.00 and gave the company a “buy” rating in a research note on Friday, July 22nd. Citigroup raised their target price on Tractor Supply from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, April 22nd. Robert W. Baird restated a “buy” rating and issued a $250.00 target price on shares of Tractor Supply in a research note on Thursday, April 14th. Finally, Gordon Haskett downgraded Tractor Supply from a “buy” rating to an “accumulate” rating in a research note on Friday, May 6th. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $240.53.
Tractor Supply Company Profile
Tractor Supply Company operates as a rural lifestyle retailer 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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