Gabelli Funds LLC Has $6.62 Million Position in Tractor Supply (NASDAQ:TSCO)

Gabelli Funds LLC lowered its position in Tractor Supply (NASDAQ:TSCO) by 3.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,300 shares of the specialty retailer’s stock after selling 1,000 shares during the quarter. Gabelli Funds LLC’s holdings in Tractor Supply were worth $6,622,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC bought a new position in shares of Tractor Supply in the first quarter valued at about $26,000. Rise Advisors LLC raised its position in shares of Tractor Supply by 157.1% in the first quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock valued at $28,000 after purchasing an additional 66 shares during the period. J.Safra Asset Management Corp raised its position in shares of Tractor Supply by 700.0% in the first quarter. J.Safra Asset Management Corp now owns 112 shares of the specialty retailer’s stock valued at $29,000 after purchasing an additional 98 shares during the period. Private Wealth Management Group LLC bought a new position in shares of Tractor Supply in the fourth quarter valued at about $27,000. Finally, Pinnacle Bancorp Inc. bought a new position in shares of Tractor Supply in the fourth quarter valued at about $28,000. Institutional investors and hedge funds own 98.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Morgan Stanley increased their price objective on shares of Tractor Supply from $195.00 to $235.00 and gave the company an “underweight” rating in a research report on Friday, April 26th. Raymond James raised their price target on shares of Tractor Supply from $250.00 to $285.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Truist Financial raised their price target on shares of Tractor Supply from $289.00 to $293.00 and gave the stock a “buy” rating in a research report on Friday. Mizuho reaffirmed a “neutral” rating and set a $250.00 price target (up from $245.00) on shares of Tractor Supply in a research report on Friday, April 26th. Finally, Wells Fargo & Company raised their price target on shares of Tractor Supply from $285.00 to $295.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $256.58.

Tractor Supply Trading Up 2.0 %

Shares of TSCO stock traded up $5.08 on Friday, hitting $262.52. The stock had a trading volume of 971,420 shares, compared to its average volume of 1,075,755. The company’s 50 day moving average price is $273.49 and its 200-day moving average price is $257.49. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.43 and a quick ratio of 0.19. Tractor Supply has a 1 year low of $185.00 and a 1 year high of $290.38. The firm has a market capitalization of $28.30 billion, a P/E ratio of 25.56, a P/E/G ratio of 3.37 and a beta of 0.81.

Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $3.93. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. The business had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same period in the prior year, the business posted $3.83 EPS. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. Analysts anticipate that Tractor Supply will post 10.29 earnings per share for the current year.

Tractor Supply Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 28th were issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.68%. The ex-dividend date was Friday, May 24th. Tractor Supply’s dividend payout ratio (DPR) is 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.