Franklin Resources Inc. Has $24.64 Million Position in Tractor Supply Company (TSCO)
Franklin Resources Inc. cut its stake in shares of Tractor Supply Company (NASDAQ:TSCO) by 21.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 454,576 shares of the specialty retailer’s stock after selling 120,843 shares during the period. Franklin Resources Inc. owned approximately 0.35% of Tractor Supply worth $24,642,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Eaton Vance Management grew its stake in shares of Tractor Supply by 52.6% during the second quarter. Eaton Vance Management now owns 142,680 shares of the specialty retailer’s stock worth $7,735,000 after purchasing an additional 49,199 shares during the period. Commonwealth Bank of Australia grew its stake in shares of Tractor Supply by 15.4% during the second quarter. Commonwealth Bank of Australia now owns 2,377 shares of the specialty retailer’s stock worth $128,000 after purchasing an additional 317 shares during the period. Private Advisor Group LLC grew its stake in shares of Tractor Supply by 96.4% during the second quarter. Private Advisor Group LLC now owns 15,610 shares of the specialty retailer’s stock worth $791,000 after purchasing an additional 7,660 shares during the period. Engineers Gate Manager LP grew its stake in shares of Tractor Supply by 49.3% during the second quarter. Engineers Gate Manager LP now owns 90,812 shares of the specialty retailer’s stock worth $4,923,000 after purchasing an additional 30,002 shares during the period. Finally, Tredje AP fonden grew its stake in shares of Tractor Supply by 2.8% during the second quarter. Tredje AP fonden now owns 9,580 shares of the specialty retailer’s stock worth $519,000 after purchasing an additional 260 shares during the period. 91.99% of the stock is owned by institutional investors and hedge funds.
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A number of brokerages recently commented on TSCO. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Tractor Supply in a research note on Thursday, July 27th. Robert W. Baird set a $62.00 price objective on Tractor Supply and gave the stock a “buy” rating in a research note on Friday, August 25th. BMO Capital Markets boosted their target price on Tractor Supply from $57.00 to $58.00 and gave the company a “market perform” rating in a research note on Friday, July 28th. BidaskClub raised Tractor Supply from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, Telsey Advisory Group decreased their target price on Tractor Supply from $83.00 to $62.00 and set an “outperform” rating for the company in a research note on Thursday, July 6th. Sixteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $71.38.
Shares of Tractor Supply Company (NASDAQ TSCO) opened at 61.25 on Wednesday. Tractor Supply Company has a 12-month low of $49.87 and a 12-month high of $78.25. The company has a market cap of $7.76 billion, a price-to-earnings ratio of 18.51 and a beta of 1.30. The company’s 50-day moving average price is $57.82 and its 200 day moving average price is $59.67.
Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Wednesday, July 26th. The specialty retailer reported $1.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.27 by ($0.02). The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2.02 billion. Tractor Supply had a net margin of 6.16% and a return on equity of 30.56%. The business’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.16 earnings per share. Equities analysts predict that Tractor Supply Company will post $3.25 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 6th. Stockholders of record on Monday, August 21st were paid a $0.27 dividend. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $1.08 annualized dividend and a dividend yield of 1.76%. Tractor Supply’s dividend payout ratio is presently 32.53%.
Tractor Supply Company Profile
Tractor Supply Company is an operator of rural lifestyle retail stores in the United States. The Company is focused on supplying the needs of recreational farmers and ranchers and others, as well as tradesmen and small businesses. It is engaged in the retail sale of products that support the rural lifestyle.
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