Alliancebernstein L.P. Has $13.62 Million Stake in Tractor Supply Company (TSCO)
Alliancebernstein L.P. reduced its stake in Tractor Supply Company (NASDAQ:TSCO) by 39.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 251,269 shares of the specialty retailer’s stock after selling 161,411 shares during the period. Alliancebernstein L.P. owned approximately 0.20% of Tractor Supply worth $13,621,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in TSCO. BlackRock Inc. grew its stake in shares of Tractor Supply by 2,934.4% in the 1st quarter. BlackRock Inc. now owns 7,835,590 shares of the specialty retailer’s stock valued at $540,419,000 after purchasing an additional 7,577,362 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Tractor Supply in the 1st quarter valued at approximately $102,767,000. Morgan Stanley grew its stake in shares of Tractor Supply by 214.1% in the 1st quarter. Morgan Stanley now owns 1,422,302 shares of the specialty retailer’s stock valued at $98,098,000 after purchasing an additional 969,544 shares during the period. Wedgewood Partners Inc. grew its stake in shares of Tractor Supply by 41.4% in the 1st quarter. Wedgewood Partners Inc. now owns 2,200,018 shares of the specialty retailer’s stock valued at $151,733,000 after purchasing an additional 643,844 shares during the period. Finally, Columbia Wanger Asset Management LLC bought a new stake in shares of Tractor Supply in the 1st quarter valued at approximately $37,690,000. Institutional investors own 91.99% of the company’s stock.
Several equities research analysts have recently weighed in on the company. Credit Suisse Group reiterated a “hold” rating and issued a $54.00 price objective on shares of Tractor Supply in a research note on Wednesday, September 13th. Robert W. Baird set a $62.00 target price on Tractor Supply and gave the stock a “buy” rating in a report on Friday, August 25th. Bank of America Corporation reissued a “buy” rating and issued a $69.00 target price on shares of Tractor Supply in a report on Tuesday, September 5th. Guggenheim reissued a “buy” rating and issued a $70.00 target price (down from $80.00) on shares of Tractor Supply in a report on Thursday, July 27th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $54.00 target price (down from $69.00) on shares of Tractor Supply in a report on Thursday, July 27th. Sixteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $71.38.
Shares of Tractor Supply Company (NASDAQ:TSCO) opened at 61.12 on Friday. Tractor Supply Company has a 12 month low of $49.87 and a 12 month high of $78.25. The company has a market cap of $7.74 billion, a PE ratio of 18.47 and a beta of 1.30. The firm’s 50 day moving average is $57.82 and its 200 day moving average is $59.67.
Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Wednesday, July 26th. The specialty retailer reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.02). Tractor Supply had a net margin of 6.16% and a return on equity of 30.56%. The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the prior year, the business earned $1.16 EPS. The business’s quarterly revenue was up 8.9% on a year-over-year basis. On average, equities analysts predict that Tractor Supply Company will post $3.25 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 6th. Shareholders of record on Monday, August 21st were given a $0.27 dividend. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $1.08 dividend on an annualized basis and a yield of 1.77%. Tractor Supply’s dividend payout ratio is currently 32.53%.
About Tractor Supply
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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