Wahed Invest LLC Boosts Stock Position in Tractor Supply (NASDAQ:TSCO)

Wahed Invest LLC increased its stake in shares of Tractor Supply (NASDAQ:TSCO) by 16.4% in the first quarter, HoldingsChannel reports. The firm owned 2,076 shares of the specialty retailer’s stock after buying an additional 293 shares during the quarter. Wahed Invest LLC’s holdings in Tractor Supply were worth $543,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSCO. Wellington Management Group LLP grew its holdings in Tractor Supply by 63.2% in the 4th quarter. Wellington Management Group LLP now owns 4,606,455 shares of the specialty retailer’s stock valued at $990,526,000 after buying an additional 1,784,304 shares during the period. Norges Bank purchased a new stake in Tractor Supply in the 4th quarter valued at about $260,560,000. Capital World Investors grew its holdings in Tractor Supply by 10.0% in the 4th 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 during the period. Capital International Investors grew its holdings in Tractor Supply by 7.6% in the 4th 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 during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in Tractor Supply by 12.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,330,621 shares of the specialty retailer’s stock valued at $871,691,000 after buying an additional 368,859 shares during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Wall Street Analyst Weigh In

TSCO has been the subject of a number of research reports. Mizuho reiterated a “neutral” rating and set a $250.00 target price (up previously from $245.00) on shares of Tractor Supply in a report on Friday, April 26th. Wedbush reiterated a “neutral” rating and set a $270.00 target price on shares of Tractor Supply in a report on Friday, July 26th. Piper Sandler boosted their target price on Tractor Supply from $265.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. Wells Fargo & Company boosted their target price on Tractor Supply from $285.00 to $295.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. Finally, Robert W. Baird boosted their target price on Tractor Supply from $260.00 to $285.00 and gave the stock 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 issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $256.58.

Tractor Supply Stock Performance

Shares of TSCO stock traded down $3.49 on Friday, hitting $252.77. 880,359 shares of the stock traded hands, compared to its average volume of 1,143,729. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.43 and a quick ratio of 0.25. The company has a market capitalization of $27.25 billion, a PE ratio of 24.47, a PEG ratio of 3.30 and a beta of 0.81. Tractor Supply has a 1-year low of $185.00 and a 1-year high of $290.38. The company’s fifty day moving average is $271.70 and its 200 day moving average is $258.35.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings results on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $3.93. The business had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.28 billion. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. The business’s revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted $3.83 EPS. On average, equities research analysts predict that Tractor Supply will post 10.23 earnings per share for the current fiscal year.

Tractor Supply Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Tuesday, May 28th were paid a dividend of $1.10 per share. The ex-dividend date was Friday, May 24th. This represents a $4.40 dividend on an annualized basis and a yield of 1.74%. Tractor Supply’s payout ratio is currently 42.84%.

Tractor Supply Profile

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.