Nicholson Wealth Management Group LLC Makes New Investment in Tractor Supply (NASDAQ:TSCO)

Nicholson Wealth Management Group LLC purchased a new stake in Tractor Supply (NASDAQ:TSCO) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,203 shares of the specialty retailer’s stock, valued at approximately $641,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Dakota Wealth Management acquired a new stake in shares of Tractor Supply during the third quarter worth $236,000. DT Investment Partners LLC raised its holdings in Tractor Supply by 120.0% during the 3rd quarter. DT Investment Partners LLC now owns 132 shares of the specialty retailer’s stock worth $38,000 after buying an additional 72 shares during the period. Assenagon Asset Management S.A. lifted its stake in Tractor Supply by 87.0% during the third quarter. Assenagon Asset Management S.A. now owns 49,558 shares of the specialty retailer’s stock valued at $14,418,000 after buying an additional 23,057 shares in the last quarter. IFM Investors Pty Ltd boosted its holdings in shares of Tractor Supply by 0.8% in the third quarter. IFM Investors Pty Ltd now owns 23,958 shares of the specialty retailer’s stock worth $6,970,000 after buying an additional 191 shares during the period. Finally, Taylor Frigon Capital Management LLC increased its position in shares of Tractor Supply by 0.9% in the third quarter. Taylor Frigon Capital Management LLC now owns 5,476 shares of the specialty retailer’s stock worth $1,593,000 after acquiring an additional 49 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Tractor Supply Stock Down 6.1 %

Shares of TSCO stock opened at $274.29 on Friday. The stock’s 50 day simple moving average is $282.05 and its 200 day simple moving average is $272.89. Tractor Supply has a twelve month low of $185.00 and a twelve month high of $307.64. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.25 and a current ratio of 1.43. The company has a market capitalization of $29.59 billion, a price-to-earnings ratio of 26.45, a PEG ratio of 3.66 and a beta of 0.80.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, October 24th. The specialty retailer reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.01. Tractor Supply had a net margin of 7.65% and a return on equity of 51.84%. The company had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.49 billion. As a group, research analysts predict that Tractor Supply will post 10.23 EPS for the current year.

Tractor Supply Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Monday, August 26th. Tractor Supply’s dividend payout ratio is 42.43%.

Insider Buying and Selling at Tractor Supply

In other news, SVP Matthew L. Rubin sold 540 shares of Tractor Supply stock in a transaction dated 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 approximately $1,356,349.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, SVP Matthew L. Rubin sold 540 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $262.35, for a total value of $141,669.00. Following the sale, the senior vice president now owns 5,170 shares in the company, valued at approximately $1,356,349.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kurt D. Barton sold 23,532 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly owns 9,683 shares in the company, valued at $2,862,682.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TSCO shares. Truist Financial upped their price target on shares of Tractor Supply from $293.00 to $325.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Evercore ISI cut Tractor Supply from an “outperform” rating to an “in-line” rating and set a $300.00 target price for the company. in a research report on Thursday, October 3rd. Melius Research started coverage on Tractor Supply in a research report on Monday, September 23rd. They set a “buy” rating and a $315.00 price target on the stock. Citigroup lowered Tractor Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. upped their target price on Tractor Supply from $260.00 to $290.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $272.50.

Tractor Supply Company Profile

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.