Long Road Investment Counsel LLC bought a new position in shares of Tractor Supply (NASDAQ:TSCO) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 2,400 shares of the specialty retailer’s stock, valued at approximately $218,000.
Other institutional investors have also modified their holdings of the company. Cubist Systematic Strategies LLC raised its holdings in shares of Tractor Supply by 74.9% during the second quarter. Cubist Systematic Strategies LLC now owns 12,515 shares of the specialty retailer’s stock worth $957,000 after purchasing an additional 5,361 shares during the last quarter. Swiss National Bank raised its holdings in shares of Tractor Supply by 2.7% during the second quarter. Swiss National Bank now owns 415,400 shares of the specialty retailer’s stock worth $31,774,000 after purchasing an additional 11,000 shares during the last quarter. Ridgewood Investments LLC raised its holdings in shares of Tractor Supply by 17.2% during the second quarter. Ridgewood Investments LLC now owns 11,768 shares of the specialty retailer’s stock worth $900,000 after purchasing an additional 1,725 shares during the last quarter. First Hawaiian Bank purchased a new position in Tractor Supply in the third quarter valued at $584,000. Finally, Sentry Investment Management LLC purchased a new position in Tractor Supply in the second quarter valued at $665,000. 82.52% of the stock is owned by hedge funds and other institutional investors.
TSCO stock opened at $93.30 on Friday. The stock has a market cap of $11.69 billion, a PE ratio of 28.02, a P/E/G ratio of 1.83 and a beta of 1.22. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.99 and a quick ratio of 0.21. Tractor Supply has a 52 week low of $58.27 and a 52 week high of $97.65.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 11th. Investors of record on Monday, November 26th will be given a dividend of $0.31 per share. The ex-dividend date is Friday, November 23rd. This represents a $1.24 dividend on an annualized basis and a yield of 1.33%. Tractor Supply’s payout ratio is presently 37.24%.
TSCO has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of Tractor Supply from a “hold” rating to a “buy” rating and set a $97.00 price objective for the company in a report on Tuesday, August 28th. BidaskClub raised shares of Tractor Supply from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 29th. Royal Bank of Canada raised shares of Tractor Supply from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 25th. Morgan Stanley lifted their price objective on shares of Tractor Supply from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, July 27th. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of Tractor Supply in a report on Thursday, July 26th. Ten investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $87.73.
In related news, EVP Robert D. Mills sold 20,278 shares of the business’s stock in a transaction dated Monday, November 12th. The shares were sold at an average price of $97.10, for a total transaction of $1,968,993.80. Following the transaction, the executive vice president now directly owns 31,826 shares in the company, valued at $3,090,304.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Chad Michael Frazell sold 19,818 shares of the business’s stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $96.65, for a total transaction of $1,915,409.70. Following the transaction, the senior vice president now owns 28,961 shares in the company, valued at $2,799,080.65. The disclosure for this sale can be found here. Insiders have sold 244,626 shares of company stock worth $22,232,974 over the last 90 days. 1.60% of the stock is currently owned by company insiders.
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About Tractor Supply
Tractor Supply Company operates rural lifestyle retail stores in the United States. The company offers a selection of merchandise, including equine, livestock, pet, and small animal products necessary for their health, care, growth, and containment; hardware, truck, towing, and tool products; seasonal products, such as heating products, lawn and garden items, power equipment, gifts, and toys; work/recreational clothing and footwear; and maintenance products for agricultural and rural use.
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