Tractor Supply (NASDAQ:TSCO) Position Raised by KFG Wealth Management LLC

KFG Wealth Management LLC grew its stake in shares of Tractor Supply (NASDAQ:TSCO) by 8.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 3,408 shares of the specialty retailer’s stock after acquiring an additional 258 shares during the period. KFG Wealth Management LLC’s holdings in Tractor Supply were worth $892,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Tractor Supply in the third quarter worth approximately $407,000. O Shaughnessy Asset Management LLC boosted its position in shares of Tractor Supply by 72.0% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 6,942 shares of the specialty retailer’s stock valued at $1,410,000 after acquiring an additional 2,907 shares in the last quarter. Bank of Nova Scotia raised its holdings in shares of Tractor Supply by 13.0% in the 3rd quarter. Bank of Nova Scotia now owns 12,133 shares of the specialty retailer’s stock worth $2,464,000 after buying an additional 1,395 shares in the last quarter. Toronto Dominion Bank boosted its stake in shares of Tractor Supply by 1.5% in the 3rd quarter. Toronto Dominion Bank now owns 55,824 shares of the specialty retailer’s stock valued at $11,335,000 after purchasing an additional 830 shares in the last quarter. Finally, Hodges Capital Management Inc. acquired a new stake in shares of Tractor Supply during the third quarter worth approximately $278,000. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Price Performance

Tractor Supply stock traded down $4.38 during trading hours on Wednesday, reaching $261.65. 766,338 shares of the stock were exchanged, compared to its average volume of 1,156,668. The company has a current ratio of 1.40, a quick ratio of 0.19 and a debt-to-equity ratio of 0.83. Tractor Supply has a twelve month low of $185.00 and a twelve month high of $290.38. The company has a market cap of $28.21 billion, a P/E ratio of 25.27, a price-to-earnings-growth ratio of 3.51 and a beta of 0.81. The stock has a 50 day moving average of $275.40 and a two-hundred day moving average of $251.29.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.13. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same quarter last year, the business posted $1.65 EPS. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. Equities analysts expect that Tractor Supply will post 10.34 EPS for the current fiscal year.

Tractor Supply Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Tuesday, May 28th were given a dividend of $1.10 per share. The ex-dividend date of this dividend was Friday, May 24th. This represents a $4.40 annualized dividend and a dividend yield of 1.68%. Tractor Supply’s dividend payout ratio is currently 42.84%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TSCO. JPMorgan Chase & Co. upped their target price on shares of Tractor Supply from $241.00 to $263.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Wells Fargo & Company lifted their price target on shares of Tractor Supply from $250.00 to $285.00 and gave the company an “overweight” rating in a research note on Monday, March 25th. Morgan Stanley increased their price objective on Tractor Supply from $195.00 to $235.00 and gave the stock an “underweight” rating in a report on Friday, April 26th. Mizuho reiterated a “neutral” rating and issued a $250.00 price target (up from $245.00) on shares of Tractor Supply in a research note on Friday, April 26th. Finally, Evercore ISI cut their price objective on Tractor Supply from $295.00 to $290.00 and set an “outperform” rating for the company in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Tractor Supply currently has an average rating of “Hold” and an average target price of $253.96.

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.