Tractor Supply (NASDAQ:TSCO) Stake Reduced by SNS Financial Group LLC

SNS Financial Group LLC trimmed its holdings in Tractor Supply (NASDAQ:TSCO) by 6.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,490 shares of the specialty retailer’s stock after selling 366 shares during the quarter. SNS Financial Group LLC’s holdings in Tractor Supply were worth $1,482,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in TSCO. Future Financial Wealth Managment LLC purchased a new stake in shares of Tractor Supply during the first quarter valued at $26,000. Private Wealth Management Group LLC acquired a new position in shares of Tractor Supply in the fourth quarter worth about $27,000. Rise Advisors LLC boosted its stake in Tractor Supply by 157.1% in the 1st quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock worth $28,000 after purchasing an additional 66 shares during the period. LRI Investments LLC purchased a new position in Tractor Supply during the 1st quarter worth approximately $28,000. Finally, J.Safra Asset Management Corp lifted its holdings 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 purchasing an additional 98 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TSCO shares. Piper Sandler upped their price target on Tractor Supply from $265.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. Wells Fargo & Company raised their price target on shares of Tractor Supply from $285.00 to $295.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. Benchmark reaffirmed a “buy” rating and set a $280.00 price objective on shares of Tractor Supply in a research report on Friday, July 26th. JPMorgan Chase & Co. increased their target price on shares of Tractor Supply from $241.00 to $263.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Finally, Truist Financial increased their price objective on Tractor Supply from $289.00 to $293.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Two 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. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $256.58.

Insider Buying and Selling

In other Tractor Supply news, SVP Matthew L. Rubin sold 540 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $262.35, for a total transaction of $141,669.00. Following the transaction, the senior vice president now directly owns 5,170 shares in the company, valued at approximately $1,356,349.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.24% of the company’s stock.

Tractor Supply Price Performance

NASDAQ:TSCO traded up $3.90 during mid-day trading on Friday, reaching $269.18. 510,897 shares of the company were exchanged, compared to its average volume of 1,102,958. Tractor Supply has a 12 month low of $185.00 and a 12 month high of $290.38. The stock has a market cap of $29.02 billion, a PE ratio of 26.21, a PEG ratio of 3.31 and a beta of 0.81. The company has a quick ratio of 0.25, a current ratio of 1.43 and a debt-to-equity ratio of 0.76. The company has a fifty day moving average of $266.67 and a 200 day moving average of $262.21.

Tractor Supply (NASDAQ:TSCO) last released its quarterly 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 net margin of 7.65% and a return on equity of 51.84%. The business had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.28 billion. During the same period in the prior year, the firm earned $3.83 earnings per share. Tractor Supply’s revenue was up 1.6% compared to the same quarter last year. On average, research analysts anticipate that Tractor Supply will post 10.23 EPS for the current fiscal year.

Tractor Supply Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 26th will be issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.63%. The ex-dividend date is Monday, August 26th. Tractor Supply’s dividend payout ratio is 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.