Gabelli Funds LLC cut its stake in shares of Tractor Supply (NASDAQ:TSCO) by 10.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 139,150 shares of the specialty retailer’s stock after selling 16,500 shares during the quarter. Gabelli Funds LLC owned 0.12% of Tractor Supply worth $12,585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TSCO. Synovus Financial Corp raised its position in shares of Tractor Supply by 5.4% in the 3rd quarter. Synovus Financial Corp now owns 3,945 shares of the specialty retailer’s stock worth $356,000 after acquiring an additional 203 shares in the last quarter. IFM Investors Pty Ltd raised its position in shares of Tractor Supply by 72.2% in the 3rd quarter. IFM Investors Pty Ltd now owns 14,294 shares of the specialty retailer’s stock worth $1,293,000 after acquiring an additional 5,995 shares in the last quarter. Angeles Investment Advisors LLC bought a new position in shares of Tractor Supply in the 3rd quarter worth approximately $226,000. ARP Americas LP bought a new position in shares of Tractor Supply in the 3rd quarter worth approximately $588,000. Finally, California Public Employees Retirement System raised its position in shares of Tractor Supply by 35.1% in the 3rd quarter. California Public Employees Retirement System now owns 293,100 shares of the specialty retailer’s stock worth $26,508,000 after acquiring an additional 76,161 shares in the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.
Several research analysts have recently issued reports on TSCO shares. Northcoast Research raised Tractor Supply from a “neutral” rating to a “buy” rating and set a $110.00 target price for the company in a research report on Wednesday, October 2nd. Guggenheim reaffirmed a “buy” rating and set a $110.00 price objective (down previously from $120.00) on shares of Tractor Supply in a research report on Friday, September 20th. Royal Bank of Canada set a $123.00 price objective on Tractor Supply and gave the company a “buy” rating in a research report on Friday, July 26th. Zacks Investment Research raised Tractor Supply from a “sell” rating to a “hold” rating and set a $98.00 target price for the company in a report on Friday, October 4th. Finally, Wedbush reissued an “outperform” rating and issued a $115.00 target price (up previously from $105.00) on shares of Tractor Supply in a report on Friday, October 25th. Eleven equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $108.60.
NASDAQ TSCO opened at $95.93 on Thursday. The company has a market capitalization of $11.52 billion, a PE ratio of 22.26, a price-to-earnings-growth ratio of 1.85 and a beta of 1.03. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.15 and a current ratio of 1.60. The business’s fifty day moving average is $93.35 and its 200 day moving average is $102.00. Tractor Supply has a fifty-two week low of $78.67 and a fifty-two week high of $114.25.
Tractor Supply (NASDAQ:TSCO) last released its earnings results on Thursday, October 24th. The specialty retailer reported $1.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.03 by ($0.01). The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $2 billion. Tractor Supply had a net margin of 6.69% and a return on equity of 36.64%. Tractor Supply’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.95 earnings per share. On average, sell-side analysts forecast that Tractor Supply will post 4.71 EPS for the current year.
Tractor Supply Company Profile
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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