Tractor Supply (TSCO) Shares Bought by ETF Managers Group LLC
ETF Managers Group LLC grew its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 9.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,289 shares of the specialty retailer’s stock after purchasing an additional 194 shares during the quarter. ETF Managers Group LLC’s holdings in Tractor Supply were worth $224,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Bruderman Asset Management LLC purchased a new stake in shares of Tractor Supply during the 4th quarter valued at $25,000. Rational Advisors LLC increased its position in shares of Tractor Supply by 570.9% during the 4th quarter. Rational Advisors LLC now owns 369 shares of the specialty retailer’s stock valued at $31,000 after purchasing an additional 314 shares during the last quarter. Liberty Wealth Management LLC purchased a new stake in shares of Tractor Supply during the 4th quarter valued at $31,000. Laurel Wealth Advisors LLC purchased a new stake in shares of Tractor Supply during the 4th quarter valued at $33,000. Finally, Psagot Investment House Ltd. purchased a new stake in shares of Tractor Supply during the 4th quarter valued at $35,000. 83.54% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Gregory A. Sandfort sold 25,896 shares of Tractor Supply stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $95.00, for a total value of $2,460,120.00. Following the completion of the sale, the chief executive officer now owns 117,554 shares of the company’s stock, valued at approximately $11,167,630. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Benjamin F. Parrish, Jr. sold 2,000 shares of Tractor Supply stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $99.05, for a total value of $198,100.00. Following the completion of the sale, the executive vice president now directly owns 26,549 shares of the company’s stock, valued at approximately $2,629,678.45. The disclosure for this sale can be found here. In the last three months, insiders sold 328,051 shares of company stock valued at $33,304,084. 1.50% of the stock is currently owned by insiders.
Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings data on Thursday, April 25th. The specialty retailer reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.07. Tractor Supply had a return on equity of 36.16% and a net margin of 6.68%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same quarter last year, the firm posted $0.57 EPS. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. Sell-side analysts expect that Tractor Supply will post 4.76 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Tuesday, May 28th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, May 24th. This represents a $1.40 annualized dividend and a yield of 1.36%. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.31. Tractor Supply’s dividend payout ratio (DPR) is 28.77%.
Several equities research analysts have recently issued reports on the company. Zacks Investment Research lowered Tractor Supply from a “hold” rating to a “sell” rating in a research report on Thursday, April 11th. BidaskClub lowered Tractor Supply from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Wedbush reaffirmed an “outperform” rating and set a $115.00 target price on shares of Tractor Supply in a research report on Thursday, May 16th. Piper Jaffray Companies raised their target price on Tractor Supply from $102.00 to $114.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Finally, Barclays raised their target price on Tractor Supply from $100.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, May 16th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the stock. Tractor Supply presently has an average rating of “Hold” and an average target price of $98.42.
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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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