Lord Abbett & CO. LLC Sells 2,575 Shares of Tractor Supply Company (TSCO)
Lord Abbett & CO. LLC lessened its stake in shares of Tractor Supply Company (NASDAQ:TSCO) by 6.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,340 shares of the specialty retailer’s stock after selling 2,575 shares during the period. Lord Abbett & CO. LLC’s holdings in Tractor Supply were worth $2,024,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Commonwealth Bank of Australia increased its stake in Tractor Supply by 15.4% during the 2nd quarter. Commonwealth Bank of Australia now owns 2,377 shares of the specialty retailer’s stock worth $128,000 after acquiring an additional 317 shares during the period. Penserra Capital Management LLC bought a new position in Tractor Supply during the 2nd quarter worth $139,000. Bronfman E.L. Rothschild L.P. increased its stake in Tractor Supply by 33.2% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,325 shares of the specialty retailer’s stock worth $180,000 after acquiring an additional 828 shares during the period. Oppenheimer Asset Management Inc. bought a new position in Tractor Supply during the 1st quarter worth $248,000. Finally, Globeflex Capital L P bought a new position in Tractor Supply during the 2nd quarter worth $206,000. Hedge funds and other institutional investors own 92.18% of the company’s stock.
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A number of research firms have commented on TSCO. Zacks Investment Research upgraded Tractor Supply from a “strong sell” rating to a “hold” rating in a research note on Friday, October 27th. Piper Jaffray Companies restated a “hold” rating and set a $56.00 price objective on shares of Tractor Supply in a research note on Friday, October 27th. Credit Suisse Group set a $52.00 price objective on Tractor Supply and gave the stock a “hold” rating in a research note on Thursday, October 26th. Deutsche Bank AG lowered their price objective on Tractor Supply from $54.00 to $51.00 and set a “hold” rating on the stock in a research note on Thursday, October 26th. Finally, Robert W. Baird set a $66.00 price objective on Tractor Supply and gave the stock a “buy” rating in a research note on Thursday, October 26th. Fourteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $68.63.
Shares of Tractor Supply Company (NASDAQ:TSCO) opened at 60.26 on Wednesday. The firm has a market cap of $7.63 billion, a P/E ratio of 18.21 and a beta of 1.30. The company’s 50 day moving average price is $60.65 and its 200 day moving average price is $57.72. Tractor Supply Company has a 12-month low of $49.87 and a 12-month high of $78.25.
Tractor Supply (NASDAQ:TSCO) last released its earnings results on Wednesday, October 25th. The specialty retailer reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.04. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Tractor Supply had a return on equity of 31.25% and a net margin of 6.04%. The firm’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.67 earnings per share. Equities research analysts forecast that Tractor Supply Company will post $3.28 EPS for the current year.
Tractor Supply Company Profile
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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