EverSource Wealth Advisors LLC Increases Stake in Tractor Supply (NASDAQ:TSCO)

EverSource Wealth Advisors LLC boosted its stake in shares of Tractor Supply (NASDAQ:TSCO) by 12.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 917 shares of the specialty retailer’s stock after acquiring an additional 105 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Tractor Supply were worth $250,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TSCO. Future Financial Wealth Managment LLC purchased a new stake in shares of Tractor Supply in the first quarter valued at approximately $26,000. Private Wealth Management Group LLC acquired a new position in shares of Tractor Supply in the 4th quarter valued at $27,000. Pinnacle Bancorp Inc. acquired a new position in shares of Tractor Supply in the 4th quarter valued at $28,000. Rise Advisors LLC lifted its stake 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 valued at $28,000 after purchasing an additional 66 shares during the last quarter. Finally, LRI Investments LLC acquired a new position in shares of Tractor Supply in the 1st quarter valued at $28,000. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on TSCO. JPMorgan Chase & Co. upped their price target on Tractor Supply from $241.00 to $263.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Truist Financial increased their target price on Tractor Supply from $289.00 to $293.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Piper Sandler increased their target price on Tractor Supply from $265.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Benchmark restated a “buy” rating and set a $280.00 price target on shares of Tractor Supply in a report on Friday, July 26th. Finally, Barclays upped their price target on Tractor Supply from $234.00 to $240.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Tractor Supply currently has a consensus rating of “Hold” and an average target price of $256.58.

Tractor Supply Stock Performance

Shares of Tractor Supply stock traded down $3.49 on Friday, reaching $252.77. 880,390 shares of the company were exchanged, compared to its average volume of 1,074,790. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.25 and a current ratio of 1.43. The company’s 50-day moving average is $271.12 and its two-hundred day moving average is $258.79. The firm has a market cap of $27.25 billion, a price-to-earnings ratio of 24.61, a P/E/G ratio of 3.22 and a beta of 0.81. Tractor Supply has a 1-year low of $185.00 and a 1-year high of $290.38.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $3.93. The firm had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.28 billion. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period last year, the company posted $3.83 EPS. As a group, research analysts expect that Tractor Supply will post 10.23 earnings per share 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 paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend was Friday, May 24th. Tractor Supply’s payout ratio is currently 42.84%.

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.