Franklin Resources Inc. Raises Stock Holdings in Tractor Supply (NASDAQ:TSCO)

Franklin Resources Inc. increased its position in Tractor Supply (NASDAQ:TSCOGet Rating) by 15.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 594,365 shares of the specialty retailer’s stock after purchasing an additional 80,520 shares during the period. Franklin Resources Inc.’s holdings in Tractor Supply were worth $115,217,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BDO Wealth Advisors LLC grew its stake in Tractor Supply by 78.1% in the first quarter. BDO Wealth Advisors LLC now owns 114 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 50 shares during the period. Fortitude Advisory Group L.L.C. boosted its holdings in Tractor Supply by 350.0% in the first quarter. Fortitude Advisory Group L.L.C. now owns 126 shares of the specialty retailer’s stock worth $29,000 after acquiring an additional 98 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Tractor Supply in the second quarter worth $29,000. Wagner Wealth Management LLC bought a new stake in Tractor Supply in the second quarter worth $30,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in Tractor Supply by 84.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 195 shares of the specialty retailer’s stock worth $38,000 after acquiring an additional 89 shares in the last quarter. 82.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on TSCO. Truist Financial dropped their target price on Tractor Supply from $252.00 to $237.00 and set a “buy” rating on the stock in a report on Friday, October 21st. Raymond James dropped their target price on Tractor Supply from $245.00 to $235.00 and set a “strong-buy” rating on the stock in a report on Friday, October 21st. Robert W. Baird lowered their price target on Tractor Supply from $250.00 to $240.00 and set an “outperform” rating on the stock in a report on Thursday, October 20th. StockNews.com initiated coverage on Tractor Supply in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, UBS Group lowered their price target on Tractor Supply from $220.00 to $215.00 and set a “neutral” rating on the stock in a report on Wednesday, October 12th. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $233.94.

Tractor Supply Stock Performance

Shares of TSCO opened at $225.76 on Thursday. The company has a quick ratio of 0.21, a current ratio of 1.48 and a debt-to-equity ratio of 0.57. The business has a 50-day simple moving average of $203.63 and a two-hundred day simple moving average of $197.80. The stock has a market cap of $24.94 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 2.27 and a beta of 0.91. Tractor Supply has a 52 week low of $166.49 and a 52 week high of $241.54.

Tractor Supply (NASDAQ:TSCOGet Rating) last issued its quarterly earnings results on Thursday, October 20th. The specialty retailer reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.03. The business had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.28 billion. Tractor Supply had a return on equity of 54.35% and a net margin of 7.69%. The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.95 earnings per share. On average, analysts expect that Tractor Supply will post 9.62 EPS for the current year.

Tractor Supply Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Monday, November 21st will be given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Friday, November 18th. Tractor Supply’s payout ratio is 39.96%.

Insider Buying and Selling

In related news, EVP Melissa Kersey sold 4,921 shares of the stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $221.19, for a total transaction of $1,088,475.99. Following the completion of the sale, the executive vice president now owns 4,573 shares in the company, valued at $1,011,501.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Melissa Kersey sold 4,921 shares of the stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $221.19, for a total transaction of $1,088,475.99. Following the completion of the sale, the executive vice president now owns 4,573 shares in the company, valued at $1,011,501.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edna Morris sold 3,566 shares of the stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $217.27, for a total value of $774,784.82. Following the sale, the director now owns 2,713 shares of the company’s stock, valued at approximately $589,453.51. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,999 shares of company stock worth $5,418,261. 0.70% of the stock is owned by corporate insiders.

Tractor Supply Company Profile

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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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Institutional Ownership by Quarter for Tractor Supply (NASDAQ:TSCO)

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