Tractor Supply (NASDAQ:TSCO) Stock Holdings Lowered by QRG Capital Management Inc.

QRG Capital Management Inc. cut its position in Tractor Supply (NASDAQ:TSCO) by 42.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,613 shares of the specialty retailer’s stock after selling 10,784 shares during the quarter. QRG Capital Management Inc.’s holdings in Tractor Supply were worth $3,825,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Future Financial Wealth Managment LLC acquired a new position in Tractor Supply during the 1st quarter worth $26,000. Private Wealth Management Group LLC acquired a new stake in shares of Tractor Supply in the 4th quarter worth approximately $27,000. Pinnacle Bancorp Inc. bought a new position in shares of Tractor Supply in the fourth quarter valued at approximately $28,000. Rise Advisors LLC increased its stake in shares of Tractor Supply by 157.1% during the first quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock valued at $28,000 after acquiring an additional 66 shares during the period. Finally, Cetera Trust Company N.A bought a new stake in Tractor Supply during the fourth quarter worth approximately $38,000. 98.72% of the stock is owned by institutional investors and hedge funds.

Tractor Supply Stock Performance

NASDAQ:TSCO traded down $0.62 during mid-day trading on Wednesday, hitting $282.55. 241,261 shares of the company’s stock traded hands, compared to its average volume of 1,145,121. The company has a current ratio of 1.40, a quick ratio of 0.19 and a debt-to-equity ratio of 0.83. The firm has a 50 day moving average of $274.50 and a two-hundred day moving average of $254.94. The firm has a market capitalization of $30.46 billion, a price-to-earnings ratio of 27.36, a price-to-earnings-growth ratio of 3.52 and a beta of 0.81. Tractor Supply has a 12 month low of $185.00 and a 12 month high of $290.38.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings data 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. The business had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.40 billion. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. Tractor Supply’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the company posted $1.65 earnings per share. On average, equities analysts forecast that Tractor Supply will post 10.34 earnings per share for the current fiscal year.

Tractor Supply Dividend Announcement

The company also recently announced 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. This represents a $4.40 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Friday, May 24th. Tractor Supply’s dividend payout ratio (DPR) is presently 42.84%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Evercore ISI dropped their price target on shares of Tractor Supply from $295.00 to $290.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Piper Sandler lifted their price target on shares of Tractor Supply from $265.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. Wedbush restated a “neutral” rating and set a $235.00 price objective on shares of Tractor Supply in a report on Tuesday, April 23rd. Truist Financial boosted their target price on shares of Tractor Supply from $277.00 to $289.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, Telsey Advisory Group raised their price objective on Tractor Supply from $280.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $253.96.

Tractor Supply Company 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.