CIBC Asset Management Inc raised its stake in shares of Tractor Supply Company (NASDAQ:TSCO) by 2.3% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 17,280 shares of the specialty retailer’s stock after buying an additional 394 shares during the period. CIBC Asset Management Inc’s holdings in Tractor Supply were worth $937,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of TSCO. Bronfman E.L. Rothschild L.P. boosted its position in Tractor Supply by 3.8% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,497 shares of the specialty retailer’s stock valued at $172,000 after buying an additional 91 shares during the period. Koch Industries Inc. acquired a new position in Tractor Supply during the first quarter valued at about $216,000. Gofen & Glossberg LLC IL boosted its position in Tractor Supply by 6.7% in the first quarter. Gofen & Glossberg LLC IL now owns 3,165 shares of the specialty retailer’s stock valued at $218,000 after buying an additional 200 shares during the period. Cleararc Capital Inc. boosted its position in Tractor Supply by 0.9% in the first quarter. Cleararc Capital Inc. now owns 3,199 shares of the specialty retailer’s stock valued at $221,000 after buying an additional 29 shares during the period. Finally, Comerica Securities Inc. acquired a new position in Tractor Supply during the first quarter valued at about $230,000. 91.37% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Tractor Supply Company (TSCO) opened at 53.49 on Friday. The company has a market capitalization of $6.86 billion, a P/E ratio of 16.17 and a beta of 1.32. The firm has a 50-day moving average price of $53.46 and a 200 day moving average price of $62.52. Tractor Supply Company has a 12-month low of $49.87 and a 12-month high of $87.10.
Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Wednesday, July 26th. The specialty retailer reported $1.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.27 by $0.02. Tractor Supply had a net margin of 6.16% and a return on equity of 30.56%. The company had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the prior year, the business posted $1.16 earnings per share. The company’s revenue was up 8.9% compared to the same quarter last year. On average, equities research analysts predict that Tractor Supply Company will post $3.25 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Monday, August 21st will be issued a $0.27 dividend. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.02%. Tractor Supply’s dividend payout ratio is presently 32.53%.
Several research firms have recently issued reports on TSCO. UBS AG cut Tractor Supply from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 4th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Tractor Supply in a research note on Thursday, July 27th. BMO Capital Markets boosted their target price on Tractor Supply from $57.00 to $58.00 and gave the company a “market perform” rating in a research note on Friday, July 28th. BidaskClub raised Tractor Supply from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, Piper Jaffray Companies set a $55.00 target price on Tractor Supply and gave the company a “hold” rating in a research note on Tuesday, July 25th. Nineteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Tractor Supply presently has an average rating of “Hold” and a consensus target price of $74.91.
About Tractor Supply
Tractor Supply Company is an operator of rural lifestyle retail stores in the United States. The Company is focused on supplying the needs of recreational farmers and ranchers and others, as well as tradesmen and small businesses. It is engaged in the retail sale of products that support the rural lifestyle.
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