RiverPark Advisors LLC Decreases Stake in Tractor Supply (NASDAQ:TSCO)

RiverPark Advisors LLC decreased its position in Tractor Supply (NASDAQ:TSCO) by 7.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,982 shares of the specialty retailer’s stock after selling 450 shares during the period. Tractor Supply accounts for 1.3% of RiverPark Advisors LLC’s investment portfolio, making the stock its 29th biggest holding. RiverPark Advisors LLC’s holdings in Tractor Supply were worth $1,566,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wedmont Private Capital increased its stake in Tractor Supply by 3.6% in the 1st quarter. Wedmont Private Capital now owns 1,309 shares of the specialty retailer’s stock valued at $331,000 after buying an additional 45 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its position in shares of Tractor Supply by 998.2% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 109,403 shares of the specialty retailer’s stock valued at $23,525,000 after acquiring an additional 99,441 shares during the period. Scotia Capital Inc. grew its position in shares of Tractor Supply by 792.9% during the 4th quarter. Scotia Capital Inc. now owns 19,438 shares of the specialty retailer’s stock valued at $4,180,000 after acquiring an additional 17,261 shares during the period. WCM Investment Management LLC bought a new position in shares of Tractor Supply during the 4th quarter valued at approximately $782,000. Finally, Vanguard Group Inc. grew its position in shares of Tractor Supply by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 12,804,873 shares of the specialty retailer’s stock valued at $2,753,432,000 after acquiring an additional 48,439 shares during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Analyst Upgrades and Downgrades

TSCO has been the subject of a number of research reports. Wedbush reissued a “neutral” rating and set a $235.00 target price on shares of Tractor Supply in a research report on Tuesday, April 23rd. Evercore ISI reduced their target price on shares of Tractor Supply from $295.00 to $290.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Truist Financial increased their target price on shares of Tractor Supply from $277.00 to $289.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Telsey Advisory Group raised their price objective on shares of Tractor Supply from $280.00 to $305.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Finally, TD Cowen raised their price objective on shares of Tractor Supply from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Tractor Supply currently has a consensus rating of “Hold” and an average price target of $253.96.

Tractor Supply Trading Down 1.4 %

Tractor Supply stock traded down $3.66 during trading hours on Tuesday, reaching $257.26. The stock had a trading volume of 867,415 shares, compared to its average volume of 1,154,607. The stock has a market cap of $27.74 billion, a PE ratio of 25.05, a PEG ratio of 3.42 and a beta of 0.81. Tractor Supply has a 52 week low of $185.00 and a 52 week high of $290.38. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.40 and a quick ratio of 0.19. The company has a fifty day simple moving average of $274.51 and a 200-day simple moving average of $252.97.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly 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. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm earned $1.65 EPS. Analysts forecast that Tractor Supply will post 10.34 EPS for the current fiscal year.

Tractor Supply Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 28th were issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend was Friday, May 24th. Tractor Supply’s dividend payout ratio (DPR) is presently 42.84%.

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.