Tractor Supply (NASDAQ:TSCO) Stock Position Lifted by Natixis
Natixis boosted its stake in shares of Tractor Supply (NASDAQ:TSCO) by 51.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 84,431 shares of the specialty retailer’s stock after purchasing an additional 28,799 shares during the period. Natixis owned about 0.07% of Tractor Supply worth $9,186,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Meadow Creek Investment Management LLC grew its holdings in shares of Tractor Supply by 40.0% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 17,952 shares of the specialty retailer’s stock valued at $1,953,000 after acquiring an additional 5,126 shares in the last quarter. Glen Harbor Capital Management LLC boosted its position in Tractor Supply by 40.0% during the second quarter. Glen Harbor Capital Management LLC now owns 22,848 shares of the specialty retailer’s stock valued at $2,486,000 after purchasing an additional 6,524 shares during the last quarter. Elkfork Partners LLC boosted its position in Tractor Supply by 40.0% during the second quarter. Elkfork Partners LLC now owns 27,744 shares of the specialty retailer’s stock valued at $3,018,000 after purchasing an additional 7,922 shares during the last quarter. Flinton Capital Management LLC boosted its position in Tractor Supply by 40.0% during the second quarter. Flinton Capital Management LLC now owns 13,056 shares of the specialty retailer’s stock valued at $1,420,000 after purchasing an additional 3,728 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Tractor Supply by 1.8% in the second quarter. Northern Trust Corp now owns 1,514,295 shares of the specialty retailer’s stock valued at $164,756,000 after purchasing an additional 27,227 shares in the last quarter. Hedge funds and other institutional investors own 82.96% of the company’s stock.
In other news, SVP Chad Michael Frazell sold 17,857 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $110.04, for a total value of $1,964,984.28. Following the transaction, the senior vice president now owns 31,004 shares of the company’s stock, valued at approximately $3,411,680.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Steve K. Barbarick sold 36,108 shares of Tractor Supply stock in a transaction on Monday, June 17th. The stock was sold at an average price of $104.10, for a total value of $3,758,842.80. Following the sale, the chief operating officer now directly owns 60,258 shares of the company’s stock, valued at $6,272,857.80. The disclosure for this sale can be found here. Insiders sold a total of 64,933 shares of company stock valued at $6,865,486 in the last 90 days. Corporate insiders own 1.50% of the company’s stock.
Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.01). The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. Tractor Supply had a net margin of 6.71% and a return on equity of 36.12%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.69 EPS. As a group, research analysts forecast that Tractor Supply will post 4.75 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend was Friday, August 23rd. Tractor Supply’s payout ratio is presently 32.48%.
Several research analysts have weighed in on the company. Piper Jaffray Companies upped their target price on Tractor Supply from $114.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Barclays lifted their price target on Tractor Supply from $100.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, May 16th. Goldman Sachs Group initiated coverage on Tractor Supply in a research note on Thursday, July 11th. They issued a “buy” rating and a $122.00 price target for the company. ValuEngine downgraded Tractor Supply from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Northcoast Research downgraded Tractor Supply from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $107.53.
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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