Eagle Ridge Investment Management Grows Position in Tractor Supply (NASDAQ:TSCO)

Eagle Ridge Investment Management raised its stake in shares of Tractor Supply (NASDAQ:TSCO) by 1.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 66,190 shares of the specialty retailer’s stock after purchasing an additional 818 shares during the period. Tractor Supply accounts for 1.6% of Eagle Ridge Investment Management’s portfolio, making the stock its 22nd largest position. Eagle Ridge Investment Management’s holdings in Tractor Supply were worth $17,323,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of TSCO. Wedmont Private Capital raised its holdings in Tractor Supply by 3.6% in the first 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 period. Teachers Retirement System of The State of Kentucky raised its stake in shares of Tractor Supply by 998.2% in 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. lifted its holdings 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 in the last quarter. WCM Investment Management LLC purchased a new stake in Tractor Supply during the 4th quarter worth $782,000. Finally, Vanguard Group Inc. increased its holdings in Tractor Supply by 0.4% in 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 purchasing an additional 48,439 shares in the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on TSCO. TD Cowen boosted their price objective on Tractor Supply from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Wedbush restated a “neutral” rating and issued a $235.00 price target on shares of Tractor Supply in a report on Tuesday, April 23rd. Raymond James boosted their target price 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. Telsey Advisory Group upped their target price on shares of Tractor Supply from $280.00 to $305.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Finally, Robert W. Baird boosted their price objective on shares of Tractor Supply from $260.00 to $285.00 and gave the stock an “outperform” 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $253.96.

Tractor Supply Stock Performance

NASDAQ TSCO traded down $1.71 during trading hours on Tuesday, reaching $266.03. The company’s stock had a trading volume of 743,677 shares, compared to its average volume of 1,159,764. The company has a current ratio of 1.40, a quick ratio of 0.19 and a debt-to-equity ratio of 0.83. The business has a 50-day simple moving average of $275.20 and a 200 day simple moving average of $250.94. Tractor Supply has a 52 week low of $185.00 and a 52 week high of $290.38. The stock has a market cap of $28.68 billion, a PE ratio of 25.92, a PEG ratio of 3.51 and a beta of 0.81.

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 the consensus estimate of $1.70 by $0.13. The business had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.40 billion. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. The business’s revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the business posted $1.65 EPS. Equities research analysts predict that Tractor Supply will post 10.34 earnings per share for the current fiscal year.

Tractor Supply Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 28th were given a dividend of $1.10 per share. The ex-dividend date was Friday, May 24th. This represents a $4.40 annualized dividend and a dividend yield of 1.65%. Tractor Supply’s dividend 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.