Waterfront Wealth Inc. Purchases 78 Shares of Tractor Supply (NASDAQ:TSCO)

Waterfront Wealth Inc. raised its position in shares of Tractor Supply (NASDAQ:TSCO) by 2.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,765 shares of the specialty retailer’s stock after acquiring an additional 78 shares during the period. Waterfront Wealth Inc.’s holdings in Tractor Supply were worth $1,017,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Signature Wealth Management Group boosted its stake in shares of Tractor Supply by 0.5% in the second quarter. Signature Wealth Management Group now owns 6,999 shares of the specialty retailer’s stock valued at $1,890,000 after buying an additional 38 shares during the period. Eads & Heald Wealth Management raised its position in Tractor Supply by 0.6% during the second quarter. Eads & Heald Wealth Management now owns 7,040 shares of the specialty retailer’s stock valued at $1,901,000 after purchasing an additional 42 shares in the last quarter. Whittier Trust Co. raised its position in Tractor Supply by 60.9% during the second quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock valued at $30,000 after purchasing an additional 42 shares in the last quarter. Brookstone Capital Management raised its position in Tractor Supply by 2.5% during the second quarter. Brookstone Capital Management now owns 1,820 shares of the specialty retailer’s stock valued at $507,000 after purchasing an additional 44 shares in the last quarter. Finally, Lindbrook Capital LLC raised its position in Tractor Supply by 10.9% during the first quarter. Lindbrook Capital LLC now owns 459 shares of the specialty retailer’s stock valued at $120,000 after purchasing an additional 45 shares in the last quarter. Institutional investors own 98.72% of the company’s stock.

Tractor Supply Stock Down 2.3 %

NASDAQ TSCO traded down $6.16 during trading hours on Friday, hitting $267.55. The company’s stock had a trading volume of 1,362,464 shares, compared to its average volume of 701,767. Tractor Supply has a 52 week low of $185.00 and a 52 week high of $290.38. The company has a market capitalization of $28.84 billion, a PE ratio of 26.05, a price-to-earnings-growth ratio of 3.36 and a beta of 0.81. The company has a current ratio of 1.43, a quick ratio of 0.25 and a debt-to-equity ratio of 0.76. The company’s 50-day simple moving average is $265.25 and its two-hundred day simple moving average is $263.54.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $3.93 EPS for the quarter, meeting 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 net margin of 7.65% and a return on equity of 51.84%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the business posted $3.83 EPS. Research analysts anticipate that Tractor Supply will post 10.23 EPS for the current fiscal year.

Tractor Supply Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th will be paid a $1.10 dividend. The ex-dividend date is Monday, August 26th. This represents a $4.40 annualized dividend and a yield of 1.64%. Tractor Supply’s dividend payout ratio (DPR) is 42.84%.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 540 shares of the stock in a transaction dated 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 in the company, valued at approximately $1,356,349.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on TSCO. Evercore ISI lowered their price objective on shares of Tractor Supply from $290.00 to $280.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Benchmark restated a “buy” rating and set a $280.00 price objective on shares of Tractor Supply in a research report on Friday, July 26th. Telsey Advisory Group reiterated an “outperform” rating and set a $305.00 price target on shares of Tractor Supply in a report on Thursday, July 25th. Wells Fargo & Company upped 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. Finally, Truist Financial upped their price target 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. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target 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.