RBA Wealth Management LLC Makes New Investment in Tractor Supply (NASDAQ:TSCO)

RBA Wealth Management LLC bought a new position in shares of Tractor Supply (NASDAQ:TSCO) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,014 shares of the specialty retailer’s stock, valued at approximately $3,406,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in shares of Tractor Supply by 9,370.6% in the third quarter. Wellington Management Group LLP now owns 2,822,151 shares of the specialty retailer’s stock valued at $573,038,000 after buying an additional 2,792,352 shares in the last quarter. Norges Bank acquired a new stake in shares of Tractor Supply in the fourth quarter valued at $260,560,000. Capital World Investors grew its stake in shares of Tractor Supply by 10.0% in the fourth quarter. Capital World Investors now owns 5,849,188 shares of the specialty retailer’s stock valued at $1,257,751,000 after buying an additional 531,170 shares in the last quarter. Capital International Investors grew its stake in shares of Tractor Supply by 7.6% in the fourth quarter. Capital International Investors now owns 6,233,852 shares of the specialty retailer’s stock valued at $1,340,589,000 after buying an additional 439,954 shares in the last quarter. Finally, Alecta Tjanstepension Omsesidigt grew its stake in shares of Tractor Supply by 87.5% in the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 750,000 shares of the specialty retailer’s stock valued at $161,272,000 after buying an additional 350,000 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Tractor Supply from $241.00 to $263.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Morgan Stanley lifted their target price on Tractor Supply from $195.00 to $235.00 and gave the company an “underweight” rating in a report on Friday, April 26th. Piper Sandler lifted their target price on Tractor Supply from $265.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, April 29th. Wells Fargo & Company lifted their target price on Tractor Supply from $250.00 to $285.00 and gave the company an “overweight” rating in a report on Monday, March 25th. Finally, Raymond James lifted their target price on Tractor Supply from $250.00 to $285.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $253.96.

Tractor Supply Stock Performance

Shares of Tractor Supply stock traded down $4.38 on Thursday, hitting $261.65. The stock had a trading volume of 766,488 shares, compared to its average volume of 1,191,608. Tractor Supply has a 52-week low of $185.00 and a 52-week high of $290.38. 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 stock has a market cap of $28.21 billion, a price-to-earnings ratio of 25.48, a P/E/G ratio of 3.46 and a beta of 0.81. The company’s 50 day moving average price is $275.47 and its 200 day moving average price is $251.36.

Tractor Supply (NASDAQ:TSCO) last posted its earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.13. The business had revenue of $3.39 billion during 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 quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.65 EPS. On average, research analysts anticipate that Tractor Supply will post 10.34 EPS for the current year.

Tractor Supply Dividend Announcement

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