Meridiem Investment Management Ltd. lowered its stake in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 2.8% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,025,977 shares of the specialty retailer's stock after selling 29,809 shares during the period. Tractor Supply makes up 5.3% of Meridiem Investment Management Ltd.'s investment portfolio, making the stock its 8th biggest holding. Meridiem Investment Management Ltd. owned about 0.95% of Tractor Supply worth $298,520,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Wedmont Private Capital boosted its position in Tractor Supply by 3.6% in the first quarter. Wedmont Private Capital now owns 1,309 shares of the specialty retailer's stock valued at $331,000 after buying an additional 45 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Tractor Supply by 527.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 26,501 shares of the specialty retailer's stock valued at $7,155,000 after purchasing an additional 22,279 shares in the last quarter. Congress Asset Management Co. MA raised its position in Tractor Supply by 7.2% in the 1st quarter. Congress Asset Management Co. MA now owns 163,875 shares of the specialty retailer's stock valued at $42,889,000 after purchasing an additional 10,980 shares during the last quarter. Ballentine Partners LLC boosted its stake in Tractor Supply by 2.1% in the second quarter. Ballentine Partners LLC now owns 4,504 shares of the specialty retailer's stock worth $1,216,000 after purchasing an additional 93 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in shares of Tractor Supply by 3.4% in the first quarter. Janney Montgomery Scott LLC now owns 143,749 shares of the specialty retailer's stock valued at $37,622,000 after buying an additional 4,788 shares in the last quarter. Institutional investors own 98.72% of the company's stock.
In other Tractor Supply news, CFO Kurt D. Barton sold 23,532 shares of the company's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $295.64, for a total transaction 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 approximately $2,862,682.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Kurt D. Barton sold 23,532 shares of Tractor Supply stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total transaction of $6,957,000.48. Following the completion of the transaction, the chief financial officer now directly owns 9,683 shares in the company, valued at approximately $2,862,682.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Matthew L. Rubin sold 540 shares of the business'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 value of $141,669.00. Following the transaction, the senior vice president now directly owns 5,170 shares in the company, valued at $1,356,349.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is owned by company insiders.
A number of equities research analysts have commented on TSCO shares. Wedbush reissued a "neutral" rating and set a $270.00 price objective on shares of Tractor Supply in a report on Friday, July 26th. Telsey Advisory Group increased their price objective on Tractor Supply from $300.00 to $335.00 and gave the company an "outperform" rating in a research report on Thursday. Loop Capital boosted their target price on Tractor Supply from $250.00 to $260.00 and gave the stock a "hold" rating in a research report on Friday, September 6th. Wells Fargo & Company raised their price target on Tractor Supply from $295.00 to $325.00 and gave the company an "overweight" rating in a report on Friday, October 11th. Finally, Melius Research started coverage on Tractor Supply in a report on Monday, September 23rd. They set a "buy" rating and a $315.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $272.50.
Read Our Latest Stock Analysis on Tractor Supply
TSCO stock traded down $0.70 during mid-day trading on Friday, hitting $297.62. 823,620 shares of the company were exchanged, compared to its average volume of 1,047,423. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.25 and a current ratio of 1.43. Tractor Supply has a 1-year low of $185.00 and a 1-year high of $307.64. The firm's 50 day simple moving average is $279.96 and its 200 day simple moving average is $271.93. The firm has a market cap of $32.09 billion, a P/E ratio of 28.98, a P/E/G ratio of 3.81 and a beta of 0.80.
Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $3.93 EPS for the quarter, meeting the consensus estimate of $3.93. Tractor Supply had a net margin of 7.65% and a return on equity of 51.84%. The business had revenue of $4.25 billion for the quarter, compared to analysts' expectations of $4.28 billion. During the same period in the previous year, the firm posted $3.83 EPS. The firm's revenue was up 1.6% compared to the same quarter last year. On average, sell-side analysts predict that Tractor Supply will post 10.23 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Monday, August 26th. Tractor Supply's payout ratio is 42.84%.
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.
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