Tractor Supply Company $TSCO Stock Purchased by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. raised its stake in Tractor Supply Company (NASDAQ:TSCO) by 59.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 71,820 shares of the specialty retailer’s stock after buying an additional 26,637 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Tractor Supply were worth $2,247,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Park Avenue Securities LLC purchased a new position in Tractor Supply in the third quarter valued at about $230,000. V Square Quantitative Management LLC grew its position in shares of Tractor Supply by 9.9% during the 3rd quarter. V Square Quantitative Management LLC now owns 30,721 shares of the specialty retailer’s stock valued at $961,000 after acquiring an additional 2,778 shares during the period. Community Financial Services Group LLC increased its stake in shares of Tractor Supply by 44.0% during the 3rd quarter. Community Financial Services Group LLC now owns 1,202 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 367 shares during the last quarter. Polaris Financial Partners purchased a new stake in shares of Tractor Supply during the 3rd quarter worth approximately $106,000. Finally, CX Institutional increased its stake in shares of Tractor Supply by 5.3% during the 3rd quarter. CX Institutional now owns 10,301 shares of the specialty retailer’s stock worth $322,000 after purchasing an additional 518 shares during the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Tractor Supply Stock Up 0.9%

TSCO opened at $33.94 on Friday. The company has a 50 day moving average of $33.29 and a 200 day moving average of $38.27. The company has a market cap of $17.80 billion, a PE ratio of 18.25, a price-to-earnings-growth ratio of 3.52 and a beta of 0.52. Tractor Supply Company has a 12 month low of $28.36 and a 12 month high of $56.94. The company has a current ratio of 1.38, a quick ratio of 0.20 and a debt-to-equity ratio of 0.86.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, October 22nd. The specialty retailer reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. Tractor Supply had a net margin of 6.13% and a return on equity of 40.05%. The business had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.82 billion. During the same period in the previous year, the business earned $0.49 EPS. Tractor Supply’s revenue was up 5.1% compared to the same quarter last year. On average, sell-side analysts expect that Tractor Supply Company will post 1.94 EPS for the current year.

Tractor Supply Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Monday, August 24th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, August 24th. This represents a $0.96 annualized dividend and a yield of 2.8%. Tractor Supply’s dividend payout ratio (DPR) is currently 51.61%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on TSCO shares. Citigroup reaffirmed a “buy” rating and issued a $38.00 price target (up from $37.00) on shares of Tractor Supply in a report on Tuesday, October 13th. BNP Paribas Exane raised their target price on Tractor Supply from $34.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday, October 23rd. Morgan Stanley restated a “negative” rating and issued a $35.00 target price on shares of Tractor Supply in a research note on Friday, July 24th. TD Cowen reaffirmed a “hold” rating and set a $36.00 price target (up from $34.00) on shares of Tractor Supply in a research report on Friday, October 23rd. Finally, Evercore reiterated an “outperform” rating and set a $40.00 price target on shares of Tractor Supply in a research note on Tuesday, July 7th. Thirteen investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $38.62.

Insider Buying and Selling

In other news, Director Edna Morris purchased 1,560 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was acquired at an average price of $32.44 per share, with a total value of $50,606.40. Following the transaction, the director directly owned 279,720 shares of the company’s stock, valued at approximately $9,074,116.80. This represents a 0.56% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Harry A. Lawton III purchased 15,600 shares of the business’s stock in a transaction on Tuesday, August 4th. The stock was purchased at an average cost of $32.15 per share, for a total transaction of $501,540.00. Following the acquisition, the chief executive officer owned 15,600 shares in the company, valued at approximately $501,540. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders purchased 20,310 shares of company stock worth $652,411. Corporate insiders own 0.64% of the company’s stock.

Tractor Supply Profile

Tractor Supply Company (NASDAQ:TSCO) is a specialty retailer serving the needs of farmers, ranchers, hobby farmers, pet owners, gardeners and other rural lifestyle customers. The company operates under the Tractor Supply banner and focuses on products that support everyday rural living, land maintenance and animal care.

Its merchandise includes livestock and pet feed, animal health and care products, fencing, hardware, tools, power equipment, lawn and garden supplies, work clothing, footwear, automotive products and seasonal goods.