BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Raises Stake in Tractor Supply (TSCO)
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Tractor Supply (NASDAQ:TSCO) by 9.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,282 shares of the specialty retailer’s stock after acquiring an additional 3,579 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Tractor Supply were worth $3,445,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Bruderman Asset Management LLC bought a new position in shares of Tractor Supply during the fourth quarter valued at approximately $25,000. Cordasco Financial Network boosted its stake in shares of Tractor Supply by 53.6% during the fourth quarter. Cordasco Financial Network now owns 338 shares of the specialty retailer’s stock valued at $28,000 after purchasing an additional 118 shares in the last quarter. Rational Advisors LLC boosted its stake in shares of Tractor Supply by 570.9% during the fourth quarter. Rational Advisors LLC now owns 369 shares of the specialty retailer’s stock valued at $31,000 after purchasing an additional 314 shares in the last quarter. Laurel Wealth Advisors LLC bought a new position in shares of Tractor Supply during the fourth quarter valued at approximately $33,000. Finally, Taylor Hoffman Wealth Management bought a new position in shares of Tractor Supply during the fourth quarter valued at approximately $37,000. 80.64% of the stock is currently owned by institutional investors and hedge funds.
TSCO has been the topic of a number of recent research reports. Bank of America reiterated a “neutral” rating and set a $90.00 price objective (down from $95.00) on shares of Tractor Supply in a research note on Wednesday, January 9th. BidaskClub downgraded shares of Tractor Supply from a “buy” rating to a “hold” rating in a research note on Saturday, January 5th. Wedbush set a $105.00 price objective on shares of Tractor Supply and gave the company a “buy” rating in a research note on Monday, December 10th. Wells Fargo & Co reiterated a “buy” rating and set a $102.00 price objective on shares of Tractor Supply in a research note on Monday, February 11th. Finally, Zacks Investment Research reiterated a “hold” rating and set a $90.00 price objective on shares of Tractor Supply in a research note on Monday, December 31st. Twelve equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Tractor Supply currently has an average rating of “Hold” and an average target price of $91.94.
Shares of TSCO opened at $90.40 on Friday. The company has a market capitalization of $10.98 billion, a price-to-earnings ratio of 20.97, a PEG ratio of 1.72 and a beta of 1.10. Tractor Supply has a twelve month low of $58.27 and a twelve month high of $98.03. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.91 and a quick ratio of 0.22.
Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Thursday, January 31st. The specialty retailer reported $1.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.02. The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.10 billion. Tractor Supply had a net margin of 6.73% and a return on equity of 36.86%. On average, equities analysts predict that Tractor Supply will post 4.71 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 25th were paid a $0.31 dividend. The ex-dividend date was Friday, February 22nd. This represents a $1.24 annualized dividend and a yield of 1.37%. Tractor Supply’s dividend payout ratio (DPR) is 28.77%.
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Tractor Supply Profile
Tractor Supply Company operates rural lifestyle retail stores 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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