Nordea Investment Management AB Acquires 28,531 Shares of Tractor Supply Company (TSCO)
Nordea Investment Management AB raised its holdings in Tractor Supply Company (NASDAQ:TSCO) by 89.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,385 shares of the specialty retailer’s stock after purchasing an additional 28,531 shares during the period. Nordea Investment Management AB’s holdings in Tractor Supply were worth $3,273,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Commonwealth Bank of Australia grew its stake in Tractor Supply by 15.4% during the second quarter. Commonwealth Bank of Australia now owns 2,377 shares of the specialty retailer’s stock valued at $128,000 after acquiring an additional 317 shares in the last quarter. Penserra Capital Management LLC purchased a new position in Tractor Supply in the 2nd quarter worth approximately $139,000. Koch Industries Inc. purchased a new position in Tractor Supply in the 1st quarter worth approximately $216,000. Gofen & Glossberg LLC IL grew its stake in Tractor Supply by 6.7% in the 1st quarter. Gofen & Glossberg LLC IL now owns 3,165 shares of the specialty retailer’s stock worth $218,000 after buying an additional 200 shares in the last quarter. Finally, Cleararc Capital Inc. grew its stake in Tractor Supply by 0.9% in the 1st quarter. Cleararc Capital Inc. now owns 3,199 shares of the specialty retailer’s stock worth $221,000 after buying an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 91.99% of the company’s stock.
Tractor Supply Company (TSCO) opened at 63.29 on Friday. The stock’s 50 day moving average price is $57.82 and its 200 day moving average price is $59.67. The firm has a market capitalization of $8.02 billion, a P/E ratio of 19.13 and a beta of 1.30. Tractor Supply Company has a 52 week low of $49.87 and a 52 week high of $78.25.
Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Wednesday, July 26th. The specialty retailer reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.02). Tractor Supply had a net margin of 6.16% and a return on equity of 30.56%. The company had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter last year, the business posted $1.16 earnings per share. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, equities analysts expect that Tractor Supply Company will post $3.25 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 6th. Shareholders 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 1.71%. Tractor Supply’s dividend payout ratio (DPR) is currently 32.53%.
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A number of equities research analysts have recently weighed in on TSCO shares. Zacks Investment Research upgraded shares of Tractor Supply from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. BMO Capital Markets upped their price target on shares of Tractor Supply from $58.00 to $61.00 and gave the company a “market perform” rating in a report on Wednesday. Credit Suisse Group reissued a “hold” rating and set a $54.00 price objective on shares of Tractor Supply in a research report on Wednesday, September 13th. Robert W. Baird set a $62.00 price objective on shares of Tractor Supply and gave the company a “buy” rating in a research report on Friday, August 25th. Finally, Bank of America Corporation reissued a “buy” rating and set a $69.00 price objective on shares of Tractor Supply in a research report on Tuesday, September 5th. Sixteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Tractor Supply currently has a consensus rating of “Hold” and a consensus price target of $71.52.
Tractor Supply 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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