Ascent Group LLC Makes New $2.32 Million Investment in Tractor Supply (NASDAQ:TSCO)

Ascent Group LLC acquired a new position in Tractor Supply (NASDAQ:TSCO) in the 1st quarter, Holdings Channel.com reports. The firm acquired 8,865 shares of the specialty retailer’s stock, valued at approximately $2,320,000.

Several other large investors have also recently bought and sold shares of TSCO. Future Financial Wealth Managment LLC purchased a new position in shares of Tractor Supply in the first quarter valued at $26,000. LRI Investments LLC purchased a new position in shares of Tractor Supply in the first quarter valued at $28,000. Rise Advisors LLC increased its position in shares of Tractor Supply by 157.1% in the first quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock valued at $28,000 after buying an additional 66 shares in the last quarter. J.Safra Asset Management Corp increased its position in shares of Tractor Supply by 700.0% in the first quarter. J.Safra Asset Management Corp now owns 112 shares of the specialty retailer’s stock valued at $29,000 after buying an additional 98 shares in the last quarter. Finally, Private Wealth Management Group LLC purchased a new position in shares of Tractor Supply in the fourth quarter valued at $27,000. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Stock Up 1.0 %

Shares of NASDAQ:TSCO traded up $2.56 during mid-day trading on Monday, hitting $265.08. 719,646 shares of the company traded hands, compared to its average volume of 1,151,922. The firm has a market cap of $28.58 billion, a P/E ratio of 25.81, a PEG ratio of 3.43 and a beta of 0.81. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.25 and a current ratio of 1.43. Tractor Supply has a 52-week low of $185.00 and a 52-week high of $290.38. The firm’s 50 day simple moving average is $273.11 and its 200 day simple moving average is $258.06.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Thursday, July 25th. The specialty retailer reported $3.93 EPS for the quarter, meeting the consensus estimate of $3.93. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. The business had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same period last year, the business posted $3.83 EPS. The company’s revenue was up 1.6% on a year-over-year basis. On average, equities analysts anticipate that Tractor Supply will post 10.29 EPS for the current year.

Tractor Supply Announces Dividend

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

Analyst Upgrades and Downgrades

TSCO has been the topic of a number of analyst reports. Piper Sandler increased their price objective on Tractor Supply from $265.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Benchmark reaffirmed a “buy” rating and set a $280.00 price objective on shares of Tractor Supply in a research note on Friday. Wedbush reaffirmed a “neutral” rating and set a $270.00 price objective on shares of Tractor Supply in a research note on Friday. TD Cowen increased their price objective on Tractor Supply from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $305.00 price objective on shares of Tractor Supply in a research note on Thursday. 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’s stock. According to MarketBeat.com, Tractor Supply has a consensus rating of “Hold” and an average target price of $256.58.

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.