Kornitzer Capital Management Inc. KS Has $8.48 Million Position in Tractor Supply (NASDAQ:TSCO)

Kornitzer Capital Management Inc. KS cut its stake in shares of Tractor Supply (NASDAQ:TSCO) by 5.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,403 shares of the specialty retailer’s stock after selling 1,946 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Tractor Supply were worth $8,479,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. National Bank of Canada FI boosted its position in shares of Tractor Supply by 10.8% during the 2nd quarter. National Bank of Canada FI now owns 37,627 shares of the specialty retailer’s stock worth $10,074,000 after purchasing an additional 3,673 shares in the last quarter. TD Asset Management Inc raised its stake in Tractor Supply by 0.9% during the 2nd quarter. TD Asset Management Inc now owns 121,851 shares of the specialty retailer’s stock worth $32,900,000 after buying an additional 1,125 shares during the period. FineMark National Bank & Trust boosted its holdings in Tractor Supply by 2.6% in the second quarter. FineMark National Bank & Trust now owns 8,995 shares of the specialty retailer’s stock worth $2,429,000 after acquiring an additional 227 shares in the last quarter. Simon Quick Advisors LLC grew its stake in Tractor Supply by 37.1% in the second quarter. Simon Quick Advisors LLC now owns 2,993 shares of the specialty retailer’s stock valued at $808,000 after acquiring an additional 810 shares during the period. Finally, Weaver Capital Management LLC grew its stake in Tractor Supply by 12.3% in the second quarter. Weaver Capital Management LLC now owns 2,460 shares of the specialty retailer’s stock valued at $664,000 after acquiring an additional 269 shares during the period. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Tractor Supply Stock Performance

NASDAQ TSCO opened at $270.81 on Friday. Tractor Supply has a 52-week low of $185.00 and a 52-week high of $290.38. The company has a fifty day moving average of $265.30 and a 200-day moving average of $264.28. The company has a market capitalization of $29.21 billion, a P/E ratio of 26.37, a P/E/G ratio of 3.36 and a beta of 0.80. 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 (NASDAQ:TSCO) last issued its quarterly earnings results on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $3.93. The firm had revenue of $4.25 billion during 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 company’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.83 earnings per share. As a group, equities research analysts predict that Tractor Supply will post 10.23 EPS for the current fiscal year.

Tractor Supply Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Monday, August 26th. Tractor Supply’s payout ratio is currently 42.84%.

Insiders Place Their Bets

In other news, SVP Matthew L. Rubin sold 540 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $262.35, for a total value of $141,669.00. Following the completion of the sale, the senior vice president now owns 5,170 shares of the company’s stock, valued at approximately $1,356,349.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TSCO. Wedbush reaffirmed a “neutral” rating and set a $270.00 target price on shares of Tractor Supply in a research report on Friday, July 26th. Truist Financial upped their price objective on shares of Tractor Supply from $289.00 to $293.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Benchmark reiterated a “buy” rating and set a $280.00 price objective on shares of Tractor Supply in a report on Friday, July 26th. Wells Fargo & Company upped their target price 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. Finally, Evercore ISI dropped their price target on shares of Tractor Supply from $290.00 to $280.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $256.58.

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.