Tractor Supply Company (TSCO) Stake Boosted by Engineers Gate Manager LP
Engineers Gate Manager LP raised its holdings in shares of Tractor Supply Company (NASDAQ:TSCO) by 49.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 90,812 shares of the specialty retailer’s stock after purchasing an additional 30,002 shares during the period. Engineers Gate Manager LP owned 0.07% of Tractor Supply worth $4,923,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Penserra Capital Management LLC acquired a new position in shares of Tractor Supply in the 2nd quarter valued at $139,000. Bronfman E.L. Rothschild L.P. increased its position in shares of Tractor Supply by 3.8% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 2,497 shares of the specialty retailer’s stock valued at $172,000 after acquiring an additional 91 shares during the period. Koch Industries Inc. acquired a new position in shares of Tractor Supply in the 1st quarter valued at $216,000. Gofen & Glossberg LLC IL increased its position in shares of Tractor Supply by 6.7% in the 1st quarter. Gofen & Glossberg LLC IL now owns 3,165 shares of the specialty retailer’s stock valued at $218,000 after acquiring an additional 200 shares during the period. Finally, Cleararc Capital Inc. increased its position in shares of Tractor Supply by 0.9% in the 1st quarter. Cleararc Capital Inc. now owns 3,199 shares of the specialty retailer’s stock valued at $221,000 after acquiring an additional 29 shares during the period. 92.27% of the stock is currently owned by hedge funds and other institutional investors.
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Several equities analysts recently issued reports on the company. BMO Capital Markets set a $57.00 target price on Tractor Supply and gave the company a “hold” rating in a research report on Tuesday, July 11th. Barclays PLC reissued an “overweight” rating and issued a $70.00 target price (down from $90.00) on shares of Tractor Supply in a research report on Saturday, July 22nd. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Tractor Supply in a research report on Thursday, July 27th. Telsey Advisory Group cut their target price on Tractor Supply from $83.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, July 6th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $54.00 target price (down from $69.00) on shares of Tractor Supply in a research report on Thursday, July 27th. Eighteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Tractor Supply has an average rating of “Hold” and an average target price of $72.91.
Tractor Supply Company (TSCO) traded up 0.70% during midday trading on Thursday, hitting $60.44. 260,233 shares of the stock traded hands. Tractor Supply Company has a one year low of $49.87 and a one year high of $78.25. The company’s 50 day moving average is $55.84 and its 200-day moving average is $60.33. The company has a market cap of $7.66 billion, a P/E ratio of 18.27 and a beta of 1.30.
Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Wednesday, July 26th. The specialty retailer reported $1.25 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by $0.02. The company had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Tractor Supply had a return on equity of 30.56% and a net margin of 6.16%. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.16 EPS. On average, equities research analysts forecast that Tractor Supply Company will post $3.25 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 6th. Investors of record on Monday, August 21st were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend was Thursday, August 17th. Tractor Supply’s dividend payout ratio is currently 32.53%.
About Tractor Supply
Tractor Supply Company is an operator of rural lifestyle retail stores in the United States. The Company is focused on supplying the needs of recreational farmers and ranchers and others, as well as tradesmen and small businesses. It is engaged in the retail sale of products that support the rural lifestyle.
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