Sound Income Strategies LLC Buys 76 Shares of Tractor Supply (NASDAQ:TSCO)

Sound Income Strategies LLC increased its stake in shares of Tractor Supply (NASDAQ:TSCO) by 16.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 538 shares of the specialty retailer’s stock after acquiring an additional 76 shares during the period. Sound Income Strategies LLC’s holdings in Tractor Supply were worth $157,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Signature Wealth Management Group raised its stake in shares of Tractor Supply by 0.5% during the 2nd quarter. Signature Wealth Management Group now owns 6,999 shares of the specialty retailer’s stock worth $1,890,000 after purchasing an additional 38 shares in the last quarter. X Square Capital LLC lifted its stake in Tractor Supply by 1.6% in the second quarter. X Square Capital LLC now owns 2,579 shares of the specialty retailer’s stock valued at $696,000 after acquiring an additional 41 shares during the last quarter. Eads & Heald Wealth Management raised its holdings in shares of Tractor Supply by 0.6% in the 2nd quarter. Eads & Heald Wealth Management now owns 7,040 shares of the specialty retailer’s stock valued at $1,901,000 after purchasing an additional 42 shares during the period. Whittier Trust Co. raised its position in shares of Tractor Supply by 60.9% in the second quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock valued at $30,000 after purchasing an additional 42 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Tractor Supply by 1.2% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,464 shares of the specialty retailer’s stock worth $935,000 after buying an additional 42 shares in the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Tractor Supply

In related news, SVP Matthew L. Rubin sold 540 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $262.35, for a total transaction of $141,669.00. Following the sale, the senior vice president now owns 5,170 shares of the company’s stock, valued at $1,356,349.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, SVP Matthew L. Rubin sold 540 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $262.35, for a total transaction of $141,669.00. Following the transaction, the senior vice president now owns 5,170 shares of the company’s stock, valued at approximately $1,356,349.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kurt D. Barton sold 23,532 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total value of $6,957,000.48. Following the sale, the chief financial officer now directly owns 9,683 shares of the company’s stock, valued at $2,862,682.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

Tractor Supply Stock Performance

TSCO stock opened at $303.37 on Monday. Tractor Supply has a 12-month low of $185.00 and a 12-month high of $305.99. The stock’s 50 day simple moving average is $275.68 and its 200 day simple moving average is $270.68. The stock has a market capitalization of $32.72 billion, a PE ratio of 29.25, a price-to-earnings-growth ratio of 3.73 and a beta of 0.80. The company has a current ratio of 1.43, a quick ratio of 0.25 and a debt-to-equity ratio of 0.76.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share for the quarter, meeting the consensus estimate of $3.93. The firm had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $4.28 billion. Tractor Supply had a net margin of 7.65% and a return on equity of 51.84%. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the company earned $3.83 earnings per share. As a group, research analysts forecast that Tractor Supply will post 10.23 earnings per share for the current fiscal year.

Tractor Supply Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were paid a $1.10 dividend. The ex-dividend date was Monday, August 26th. This represents a $4.40 annualized dividend and a yield of 1.45%. Tractor Supply’s payout ratio is 42.43%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TSCO. Evercore ISI cut Tractor Supply from an “outperform” rating to an “in-line” rating and set a $300.00 price objective for the company. in a report on Thursday, October 3rd. Wedbush reissued a “neutral” rating and set a $270.00 price target on shares of Tractor Supply in a report on Friday, July 26th. Loop Capital boosted their price objective on Tractor Supply from $250.00 to $260.00 and gave the stock a “hold” rating in a research report on Friday, September 6th. Citigroup upgraded Tractor Supply from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Finally, Truist Financial raised their price objective on Tractor Supply from $289.00 to $293.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $265.41.

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.