Nomura Asset Management Co. Ltd. boosted its stake in Tractor Supply (NASDAQ:TSCO) by 3.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 19,663 shares of the specialty retailer’s stock after buying an additional 626 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Tractor Supply were worth $1,787,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of TSCO. Cubist Systematic Strategies LLC increased its stake in shares of Tractor Supply by 74.9% during the second quarter. Cubist Systematic Strategies LLC now owns 12,515 shares of the specialty retailer’s stock valued at $957,000 after purchasing an additional 5,361 shares in the last quarter. First Hawaiian Bank bought a new stake in shares of Tractor Supply during the third quarter valued at approximately $584,000. Swiss National Bank increased its position in shares of Tractor Supply by 2.7% during the second quarter. Swiss National Bank now owns 415,400 shares of the specialty retailer’s stock valued at $31,774,000 after acquiring an additional 11,000 shares in the last quarter. Ridgewood Investments LLC increased its position in shares of Tractor Supply by 17.2% during the second quarter. Ridgewood Investments LLC now owns 11,768 shares of the specialty retailer’s stock valued at $900,000 after acquiring an additional 1,725 shares in the last quarter. Finally, Sentry Investment Management LLC bought a new stake in shares of Tractor Supply during the second quarter valued at approximately $665,000. Institutional investors and hedge funds own 82.18% of the company’s stock.
TSCO has been the subject of several analyst reports. Oppenheimer raised their price target on shares of Tractor Supply from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, September 14th. BidaskClub raised shares of Tractor Supply from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. Stephens set a $93.00 price target on shares of Tractor Supply and gave the company a “buy” rating in a research report on Friday, July 27th. Zacks Investment Research raised shares of Tractor Supply from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research report on Friday, August 3rd. Finally, Wedbush raised shares of Tractor Supply from a “neutral” rating to an “outperform” rating and raised their price target for the company from $80.00 to $100.00 in a research report on Friday, October 26th. Eleven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $87.77.
Shares of TSCO stock opened at $89.00 on Friday. Tractor Supply has a 12-month low of $58.27 and a 12-month 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. The company has a market capitalization of $10.86 billion, a P/E ratio of 26.73, a P/E/G ratio of 1.70 and a beta of 1.22.
Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Thursday, October 25th. The specialty retailer reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.08. Tractor Supply had a net margin of 6.54% and a return on equity of 36.23%. The company had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.82 billion. As a group, equities analysts predict that Tractor Supply will post 4.29 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 11th. Investors of record on Monday, November 26th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Friday, November 23rd. Tractor Supply’s dividend payout ratio is currently 37.24%.
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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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