Bahl & Gaynor Inc. Takes $220,000 Position in Tractor Supply (NASDAQ:TSCO)

Bahl & Gaynor Inc. acquired a new position in Tractor Supply (NASDAQ:TSCO) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 841 shares of the specialty retailer’s stock, valued at approximately $220,000.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Tractor Supply by 0.4% during 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 buying an additional 48,439 shares in the last quarter. Capital International Investors boosted its position 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 worth $1,340,589,000 after purchasing an additional 439,954 shares during the period. Capital World Investors increased 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 worth $1,257,751,000 after purchasing an additional 531,170 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Tractor Supply by 63.2% in the fourth quarter. Wellington Management Group LLP now owns 4,606,455 shares of the specialty retailer’s stock worth $990,526,000 after purchasing an additional 1,784,304 shares in the last quarter. Finally, Stifel Financial Corp raised its position in shares of Tractor Supply by 0.4% during the 4th quarter. Stifel Financial Corp now owns 1,589,461 shares of the specialty retailer’s stock valued at $341,793,000 after purchasing an additional 6,879 shares during the period. 98.72% of the stock is currently owned by institutional investors.

Tractor Supply Trading Down 2.0 %

TSCO traded down $5.53 during trading on Wednesday, reaching $264.83. The company had a trading volume of 620,876 shares, compared to its average volume of 1,142,975. The company has a quick ratio of 0.19, a current ratio of 1.40 and a debt-to-equity ratio of 0.83. 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 $28.55 billion, a P/E ratio of 26.33, a PEG ratio of 3.53 and a beta of 0.81. The business has a 50 day simple moving average of $274.60 and a 200-day simple moving average of $256.92.

Tractor Supply (NASDAQ:TSCO) last released its 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. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.40 billion. During the same quarter last year, the business earned $1.65 EPS. The business’s revenue was up 2.8% on a year-over-year basis. On average, equities analysts anticipate that Tractor Supply will post 10.33 EPS for the current fiscal year.

Tractor Supply Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 28th were issued a $1.10 dividend. The ex-dividend date of this dividend was Friday, May 24th. This represents a $4.40 annualized dividend and a dividend yield of 1.66%. Tractor Supply’s payout ratio is 42.84%.

Analyst Ratings Changes

TSCO has been the subject of a number of analyst reports. Barclays increased their price target on Tractor Supply from $234.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Telsey Advisory Group reissued an “outperform” rating and set a $305.00 target price on shares of Tractor Supply in a research note on Friday, July 19th. Piper Sandler upped their price target on Tractor Supply from $265.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Wells Fargo & Company lifted their price objective on shares of Tractor Supply from $285.00 to $295.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Truist Financial boosted their target price on shares of Tractor Supply from $277.00 to $289.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Tractor Supply presently has an average rating of “Hold” and an average target price of $254.38.

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.