Eastern Bank Invests $136,000 in Tractor Supply (NASDAQ:TSCO)

Eastern Bank bought a new stake in shares of Tractor Supply (NASDAQ:TSCO) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 469 shares of the specialty retailer’s stock, valued at approximately $136,000.

Several other institutional investors and hedge funds have also bought and sold shares of TSCO. Price T Rowe Associates Inc. MD raised its holdings in shares of Tractor Supply by 12.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,330,621 shares of the specialty retailer’s stock valued at $871,691,000 after purchasing an additional 368,859 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Tractor Supply by 10.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,123,280 shares of the specialty retailer’s stock worth $303,278,000 after purchasing an additional 110,342 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Tractor Supply by 4.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 800,463 shares of the specialty retailer’s stock worth $216,125,000 after purchasing an additional 37,071 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of Tractor Supply by 67.4% in the 2nd quarter. Clearbridge Investments LLC now owns 403,710 shares of the specialty retailer’s stock worth $109,002,000 after purchasing an additional 162,533 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Tractor Supply by 5.6% during the 2nd quarter. Principal Financial Group Inc. now owns 368,161 shares of the specialty retailer’s stock valued at $99,403,000 after purchasing an additional 19,393 shares in the last quarter. 98.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on TSCO shares. Loop Capital raised their price objective on shares of Tractor Supply from $250.00 to $260.00 and gave the company a “hold” rating in a research note on Friday, September 6th. Piper Sandler lifted their price target on Tractor Supply from $300.00 to $332.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Wells Fargo & Company boosted their price objective on Tractor Supply from $295.00 to $325.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Citigroup lowered Tractor Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $335.00 price target on shares of Tractor Supply in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Tractor Supply presently has a consensus rating of “Moderate Buy” and an average target price of $272.50.

Tractor Supply Trading Down 6.1 %

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

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, July 25th. The specialty retailer reported $3.93 EPS for the quarter, meeting the consensus estimate of $3.93. The firm had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.28 billion. Tractor Supply had a net margin of 7.65% and a return on equity of 51.84%. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period last year, the firm earned $3.83 EPS. On average, equities analysts forecast that Tractor Supply will post 10.23 EPS for the current fiscal year.

Tractor Supply Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were given a $1.10 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.60%. Tractor Supply’s dividend payout ratio (DPR) is presently 42.43%.

Insider Activity at Tractor Supply

In other Tractor Supply news, CFO Kurt D. Barton sold 23,532 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total value of $6,957,000.48. Following the sale, the chief financial officer now owns 9,683 shares of the company’s stock, valued at $2,862,682.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP Matthew L. Rubin sold 540 shares of the stock in a transaction on 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 owns 5,170 shares of the company’s stock, valued at $1,356,349.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kurt D. Barton sold 23,532 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $295.64, for a total value of $6,957,000.48. Following the transaction, the chief financial officer now directly owns 9,683 shares in the company, valued at approximately $2,862,682.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is owned by corporate insiders.

Tractor Supply 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.