Bank of New York Mellon Corp Raises Position in Tractor Supply Co. (TSCO)
Bank of New York Mellon Corp increased its position in Tractor Supply Co. (NASDAQ:TSCO) by 98.5% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 4,132,049 shares of the company’s stock after buying an additional 2,050,092 shares during the period. Bank of New York Mellon Corp’s holdings in Tractor Supply were worth $278,294,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of TSCO. Seven Eight Capital LLC acquired a new stake in Tractor Supply during the first quarter valued at approximately $123,000. Ladenburg Thalmann Financial Services Inc. raised its stake in Tractor Supply by 8.2% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,507 shares of the company’s stock valued at $860,000 after buying an additional 724 shares in the last quarter. First Republic Investment Management Inc. raised its stake in Tractor Supply by 1.6% in the first quarter. First Republic Investment Management Inc. now owns 29,666 shares of the company’s stock valued at $2,685,000 after buying an additional 480 shares in the last quarter. Raymond James Trust N.A. raised its stake in Tractor Supply by 10.7% in the second quarter. Raymond James Trust N.A. now owns 5,546 shares of the company’s stock valued at $506,000 after buying an additional 537 shares in the last quarter. Finally, British Columbia Investment Management Corp raised its stake in Tractor Supply by 3.7% in the second quarter. British Columbia Investment Management Corp now owns 92,281 shares of the company’s stock valued at $8,414,000 after buying an additional 3,256 shares in the last quarter. 90.57% of the stock is currently owned by institutional investors and hedge funds.
Tractor Supply Co. (NASDAQ:TSCO) opened at 74.75 on Wednesday. The company’s 50-day moving average price is $68.00 and its 200 day moving average price is $81.34. Tractor Supply Co. has a 52 week low of $61.50 and a 52 week high of $97.25. The company has a market capitalization of $9.81 billion, a PE ratio of 23.72 and a beta of 1.23.
Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Wednesday, October 19th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.01. The business earned $1.54 billion during the quarter, compared to analyst estimates of $1.54 billion. Tractor Supply had a return on equity of 29.78% and a net margin of 6.53%. The firm’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.64 EPS. On average, equities research analysts anticipate that Tractor Supply Co. will post $3.24 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 29th. Stockholders of record on Monday, November 14th were issued a dividend of $0.24 per share. The ex-dividend date was Wednesday, November 9th. This represents a $0.96 annualized dividend and a dividend yield of 1.28%. Tractor Supply’s dividend payout ratio is 30.48%.
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A number of research analysts have issued reports on TSCO shares. Zacks Investment Research upgraded shares of Tractor Supply from a “sell” rating to a “hold” rating in a report on Wednesday, August 17th. Northcoast Research upgraded shares of Tractor Supply from a “neutral” rating to a “buy” rating in a report on Tuesday. Royal Bank Of Canada lowered shares of Tractor Supply from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $100.00 to $79.00 in a report on Thursday, September 8th. BTIG Research lowered shares of Tractor Supply from a “buy” rating to a “neutral” rating in a report on Thursday, September 8th. Finally, Wedbush cut their price objective on shares of Tractor Supply from $72.00 to $65.00 and set a “neutral” rating on the stock in a report on Thursday, October 20th. Thirteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $85.95.
In other news, Director Mark J. Weikel purchased 1,000 shares of Tractor Supply stock in a transaction dated Thursday, November 3rd. The stock was acquired at an average cost of $66.14 per share, for a total transaction of $66,140.00. Following the acquisition, the director now directly owns 5,627 shares in the company, valued at $372,169.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.00% of the company’s stock.
About Tractor Supply
Tractor Supply Company is an operator of rural lifestyle retail stores in the United States. The Company operates in the retail sale of products that support the rural lifestyle segment. The Company focuses on supplying the lifestyle needs of recreational farmers and ranchers, as well as tradesmen and small businesses.
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