KFG Wealth Management LLC Boosts Stock Holdings in Tractor Supply (NASDAQ:TSCO)

KFG Wealth Management LLC raised its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 8.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 3,408 shares of the specialty retailer’s stock after purchasing an additional 258 shares during the period. KFG Wealth Management LLC’s holdings in Tractor Supply were worth $892,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TSCO. Future Financial Wealth Managment LLC purchased a new position in shares of Tractor Supply in the 1st quarter worth approximately $26,000. Private Wealth Management Group LLC purchased a new position in shares of Tractor Supply in the 4th quarter worth approximately $27,000. Pinnacle Bancorp Inc. purchased a new position in shares of Tractor Supply in the 4th quarter worth approximately $28,000. Rise Advisors LLC grew its position in shares of Tractor Supply by 157.1% in the 1st quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock worth $28,000 after buying an additional 66 shares during the last quarter. Finally, VisionPoint Advisory Group LLC grew its position in shares of Tractor Supply by 105.6% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 148 shares of the specialty retailer’s stock worth $30,000 after buying an additional 76 shares during the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Price Performance

Shares of Tractor Supply stock traded down $4.38 during trading hours on Wednesday, reaching $261.65. 766,338 shares of the company’s stock were exchanged, compared to its average volume of 1,156,668. Tractor Supply has a 1 year low of $185.00 and a 1 year high of $290.38. The company has a market capitalization of $28.21 billion, a P/E ratio of 25.27, a price-to-earnings-growth ratio of 3.51 and a beta of 0.81. The business has a fifty day moving average of $275.40 and a two-hundred day moving average of $251.29. The company has a quick ratio of 0.19, a current ratio of 1.40 and a debt-to-equity ratio of 0.83.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.13. The firm had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.40 billion. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The company’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.65 EPS. As a group, research analysts predict that Tractor Supply will post 10.34 earnings per share for the current fiscal year.

Tractor Supply Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 28th were given 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 1.68%. Tractor Supply’s payout ratio is currently 42.84%.

Analyst Upgrades and Downgrades

TSCO has been the subject of a number of recent analyst reports. Morgan Stanley lifted their target price on shares of Tractor Supply from $195.00 to $235.00 and gave the stock an “underweight” rating in a research note on Friday, April 26th. Benchmark reiterated a “buy” rating and issued a $256.00 target price on shares of Tractor Supply in a research note on Monday, April 22nd. Truist Financial lifted their target price on shares of Tractor Supply from $277.00 to $289.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Piper Sandler lifted their target price on shares of Tractor Supply from $265.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Finally, Barclays lifted their price objective on shares of Tractor Supply from $234.00 to $240.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Tractor Supply presently has a consensus rating of “Hold” and a consensus price target of $253.96.

Tractor Supply Profile

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.