Hennessy Advisors Inc. Invests $3.25 Million in Tractor Supply (NASDAQ:TSCO)

Hennessy Advisors Inc. bought a new position in shares of Tractor Supply (NASDAQ:TSCO) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,400 shares of the specialty retailer’s stock, valued at approximately $3,245,000.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Tractor Supply by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 12,804,873 shares of the specialty retailer’s stock worth $2,753,432,000 after acquiring an additional 48,439 shares during the period. Capital International Investors grew its holdings in shares of Tractor Supply by 7.6% in the 4th quarter. Capital International Investors now owns 6,233,852 shares of the specialty retailer’s stock worth $1,340,589,000 after acquiring an additional 439,954 shares during the period. Capital World Investors grew its holdings in shares of Tractor Supply by 10.0% in the 4th quarter. Capital World Investors now owns 5,849,188 shares of the specialty retailer’s stock worth $1,257,751,000 after acquiring an additional 531,170 shares during the period. Wellington Management Group LLP grew its holdings in shares of Tractor Supply by 63.2% in the 4th quarter. Wellington Management Group LLP now owns 4,606,455 shares of the specialty retailer’s stock worth $990,526,000 after acquiring an additional 1,784,304 shares during the period. Finally, Stifel Financial Corp grew its holdings in shares of Tractor Supply by 0.4% in the 4th quarter. Stifel Financial Corp now owns 1,589,461 shares of the specialty retailer’s stock worth $341,793,000 after acquiring an additional 6,879 shares during the period. 98.72% of the stock is owned by hedge funds and other institutional investors.

Tractor Supply Stock Up 0.7 %

Shares of NASDAQ TSCO traded up $1.74 during midday trading on Friday, reaching $269.29. 724,462 shares of the company’s stock were exchanged, compared to its average volume of 1,156,420. Tractor Supply has a 52-week low of $185.00 and a 52-week high of $290.38. The stock has a market capitalization of $29.03 billion, a PE ratio of 26.66, a price-to-earnings-growth ratio of 3.47 and a beta of 0.83. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.19 and a current ratio of 1.40. The business’s fifty day moving average price is $274.57 and its two-hundred day moving average price is $249.81.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.13. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same period in the previous year, the company earned $1.65 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. Analysts forecast that Tractor Supply will post 10.34 EPS for the current year.

Tractor Supply Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Tuesday, May 28th were paid a $1.10 dividend. The ex-dividend date of this dividend was Friday, May 24th. This represents a $4.40 dividend on an annualized basis and a yield of 1.63%. Tractor Supply’s dividend payout ratio (DPR) is 42.84%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on TSCO shares. JPMorgan Chase & Co. upped their price target on Tractor Supply from $241.00 to $263.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. TD Cowen increased their target price on Tractor Supply from $250.00 to $270.00 and gave the company a “buy” rating in a report on Friday, April 26th. Robert W. Baird increased their target price on Tractor Supply from $260.00 to $285.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Truist Financial increased their target price on Tractor Supply from $277.00 to $289.00 and gave the company a “buy” rating in a report on Friday, April 26th. Finally, Raymond James increased their target price on Tractor Supply from $250.00 to $285.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $254.17.

About Tractor Supply

Tractor Supply Company operates as a rural lifestyle retailer in the United States. The company offers various merchandise, including livestock and equine feed and equipment, poultry, fencing, and sprayers and chemicals; food, treats, and equipment for dogs, cats, and other small animals, as well as dog wellness products; seasonal and recreation products comprising tractors and riders, lawn and garden, bird feeding, power equipment, and other recreational products; truck, tool, and hardware products, such as truck accessories, trailers, generators, lubricants, batteries, and hardware and tools; and clothing, gift, and décor products consist of clothing, footwear, toys, snacks, and decorative merchandise.