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Dakota Wealth Management Takes Position in Tractor Supply (NASDAQ:TSCO)

Dakota Wealth Management bought a new position in Tractor Supply (NASDAQ:TSCOGet Rating) during the first quarter, according to its most recent filing with the SEC. The firm bought 4,121 shares of the specialty retailer’s stock, valued at approximately $962,000.

Several other hedge funds have also bought and sold shares of the business. BDO Wealth Advisors LLC boosted its stake in Tractor Supply by 78.1% during the 1st quarter. BDO Wealth Advisors LLC now owns 114 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 50 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of Tractor Supply by 272.2% in the first quarter. Allworth Financial LP now owns 134 shares of the specialty retailer’s stock valued at $31,000 after purchasing an additional 98 shares in the last quarter. CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Tractor Supply during the fourth quarter valued at approximately $33,000. Financial Management Professionals Inc. grew its holdings in Tractor Supply by 278.4% during the first quarter. Financial Management Professionals Inc. now owns 140 shares of the specialty retailer’s stock worth $33,000 after buying an additional 103 shares in the last quarter. Finally, Jackson Grant Investment Advisers Inc. purchased a new stake in Tractor Supply in the 1st quarter valued at $44,000. Institutional investors and hedge funds own 82.86% of the company’s stock.

Tractor Supply Stock Performance

Shares of TSCO stock opened at $199.79 on Friday. The firm’s 50 day moving average is $195.80 and its 200 day moving average is $204.47. The stock has a market capitalization of $22.18 billion, a P/E ratio of 22.05, a PEG ratio of 2.00 and a beta of 0.91. Tractor Supply has a 12 month low of $166.49 and a 12 month high of $241.54. The company has a current ratio of 1.44, a quick ratio of 0.33 and a debt-to-equity ratio of 0.53.

Tractor Supply (NASDAQ:TSCOGet Rating) last posted its earnings results on Thursday, July 21st. The specialty retailer reported $3.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.02. The firm had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.89 billion. Tractor Supply had a return on equity of 53.29% and a net margin of 7.76%. The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.19 earnings per share. On average, sell-side analysts anticipate that Tractor Supply will post 9.58 earnings per share for the current year.

Tractor Supply Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 7th. Investors of record on Monday, August 22nd were paid a dividend of $0.92 per share. The ex-dividend date was Friday, August 19th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.84%. Tractor Supply’s payout ratio is 40.62%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Wells Fargo & Company cut their price objective on shares of Tractor Supply to $250.00 in a report on Friday, July 22nd. The Goldman Sachs Group reduced their price objective on shares of Tractor Supply from $260.00 to $207.00 and set a “buy” rating for the company in a research report on Monday, June 27th. Morgan Stanley increased their price objective on shares of Tractor Supply from $220.00 to $225.00 and gave the company an “equal weight” rating in a research note on Thursday, August 18th. MKM Partners assumed coverage on Tractor Supply in a research note on Thursday, July 28th. They issued a “buy” rating and a $230.00 target price on the stock. Finally, Truist Financial increased their price target on Tractor Supply from $246.00 to $252.00 and gave the company a “buy” rating in a research report on Friday, July 22nd. Six research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Tractor Supply has a consensus rating of “Moderate Buy” and an average price target of $240.79.

Tractor Supply Profile

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Tractor Supply Company operates as a rural lifestyle retailer in the United States. The company offers a selection of merchandise, including equine, livestock, pet, and small animal products necessary for their health, care, growth, and containment; hardware, truck, towing, and tool products; seasonal products, such as heating products, lawn and garden items, power equipment, gifts, and toys; work/recreational clothing and footwear; and maintenance products for agricultural and rural use.

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