Tractor Supply (TSCO) Position Boosted by Wells Fargo & Company MN

Wells Fargo & Company MN increased its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 21.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,782,916 shares of the specialty retailer’s stock after buying an additional 316,629 shares during the quarter. Wells Fargo & Company MN owned about 1.46% of Tractor Supply worth $162,030,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TSCO. Millennium Management LLC lifted its stake in Tractor Supply by 104.5% in the 1st quarter. Millennium Management LLC now owns 3,741 shares of the specialty retailer’s stock worth $236,000 after purchasing an additional 86,990 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Tractor Supply by 0.4% in the 1st quarter. Principal Financial Group Inc. now owns 196,559 shares of the specialty retailer’s stock worth $12,388,000 after purchasing an additional 850 shares in the last quarter. Suntrust Banks Inc. lifted its stake in Tractor Supply by 25.1% in the 1st quarter. Suntrust Banks Inc. now owns 4,739 shares of the specialty retailer’s stock worth $297,000 after purchasing an additional 952 shares in the last quarter. IFM Investors Pty Ltd lifted its stake in Tractor Supply by 44.2% in the 2nd quarter. IFM Investors Pty Ltd now owns 5,896 shares of the specialty retailer’s stock worth $451,000 after purchasing an additional 1,807 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in Tractor Supply by 44.6% in the 2nd quarter. State of Alaska Department of Revenue now owns 33,090 shares of the specialty retailer’s stock worth $2,530,000 after purchasing an additional 10,210 shares in the last quarter. Hedge funds and other institutional investors own 82.02% of the company’s stock.

Shares of NASDAQ:TSCO opened at $97.13 on Friday. The firm has a market capitalization of $11.66 billion, a PE ratio of 23.24, a P/E/G ratio of 1.83 and a beta of 1.22. Tractor Supply has a one year low of $58.27 and a one year high of $97.65. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.21 and a current ratio of 1.99.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Thursday, October 25th. The specialty retailer reported $0.95 EPS for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.08. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.82 billion. Tractor Supply had a net margin of 6.54% and a return on equity of 36.23%. Research analysts expect that Tractor Supply will post 4.29 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 11th. Stockholders of record on Monday, November 26th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Friday, November 23rd. Tractor Supply’s payout ratio is 37.24%.

In related news, SVP Chad Michael Frazell sold 19,818 shares of the stock in a transaction on Thursday, November 8th. The shares were sold at an average price of $96.65, for a total transaction of $1,915,409.70. Following the transaction, the senior vice president now owns 28,961 shares of the company’s stock, valued at approximately $2,799,080.65. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Kurt D. Barton sold 6,156 shares of the stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $84.50, for a total transaction of $520,182.00. Following the transaction, the chief financial officer now directly owns 32,327 shares in the company, valued at approximately $2,731,631.50. The disclosure for this sale can be found here. Insiders sold a total of 224,348 shares of company stock worth $20,263,980 in the last three months. Insiders own 1.60% of the company’s stock.

Several analysts have issued reports on the stock. BidaskClub cut shares of Tractor Supply from a “buy” rating to a “hold” rating in a research note on Friday, November 2nd. Telsey Advisory Group reiterated an “outperform” rating and issued a $92.00 target price (up from $85.00) on shares of Tractor Supply in a research note on Saturday, October 27th. Credit Suisse Group set a $85.00 target price on shares of Tractor Supply and gave the stock a “hold” rating in a research note on Friday, October 26th. Wells Fargo & Co increased their target price on shares of Tractor Supply from $98.00 to $102.00 and gave the stock an “outperform” rating in a research note on Friday, October 26th. Finally, Robert W. Baird increased their target price on shares of Tractor Supply from $97.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 26th. Twelve research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Tractor Supply has a consensus rating of “Buy” and a consensus target price of $87.73.

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About Tractor Supply

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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Institutional Ownership by Quarter for Tractor Supply (NASDAQ:TSCO)

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