Palisade Asset Management LLC Has $7.95 Million Stock Position in Tractor Supply (NASDAQ:TSCO)

Palisade Asset Management LLC lifted its holdings in Tractor Supply (NASDAQ:TSCO) by 281.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,972 shares of the specialty retailer’s stock after purchasing an additional 27,289 shares during the period. Palisade Asset Management LLC’s holdings in Tractor Supply were worth $7,950,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Wellington Management Group LLP raised its holdings in Tractor Supply by 9,370.6% in the 3rd quarter. Wellington Management Group LLP now owns 2,822,151 shares of the specialty retailer’s stock worth $573,038,000 after acquiring an additional 2,792,352 shares during the period. Invesco Ltd. increased its stake in shares of Tractor Supply by 76.7% in the third quarter. Invesco Ltd. now owns 2,024,182 shares of the specialty retailer’s stock worth $411,010,000 after purchasing an additional 878,874 shares during the period. Stifel Financial Corp lifted its position in shares of Tractor Supply by 3.2% during the 3rd quarter. Stifel Financial Corp now owns 1,582,582 shares of the specialty retailer’s stock worth $321,354,000 after purchasing an additional 49,173 shares during the last quarter. Northern Trust Corp boosted its stake in Tractor Supply by 4.7% during the 3rd quarter. Northern Trust Corp now owns 1,182,164 shares of the specialty retailer’s stock valued at $240,038,000 after purchasing an additional 52,583 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in Tractor Supply by 22.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,148,340 shares of the specialty retailer’s stock worth $233,170,000 after buying an additional 210,131 shares during the period. 98.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, CFO Kurt D. Barton sold 4,335 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the completion of the sale, the chief financial officer now owns 20,678 shares in the company, valued at approximately $5,314,246. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Kurt D. Barton sold 4,335 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $257.00, for a total value of $1,114,095.00. Following the sale, the chief financial officer now directly owns 20,678 shares in the company, valued at approximately $5,314,246. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Colin Yankee sold 8,675 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $250.00, for a total transaction of $2,168,750.00. Following the transaction, the executive vice president now owns 9,673 shares of the company’s stock, valued at approximately $2,418,250. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,090 shares of company stock worth $21,201,877. Company insiders own 0.58% of the company’s stock.

Tractor Supply Price Performance

Shares of TSCO stock traded down $3.48 during trading hours on Wednesday, hitting $266.65. 590,058 shares of the company’s stock were exchanged, compared to its average volume of 1,153,107. The stock’s 50-day moving average is $256.72 and its 200-day moving average is $230.30. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.40 and a quick ratio of 0.19. Tractor Supply has a 52 week low of $185.00 and a 52 week high of $279.38. The stock has a market cap of $28.78 billion, a price-to-earnings ratio of 25.98, a price-to-earnings-growth ratio of 3.41 and a beta of 0.82.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.13. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The company had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same period in the previous year, the firm posted $1.65 earnings per share. The company’s revenue was up 2.8% on a year-over-year basis. As a group, research analysts forecast that Tractor Supply will post 10.3 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on Tractor Supply from $241.00 to $263.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Truist Financial raised their price target on shares of Tractor Supply from $277.00 to $289.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Mizuho reiterated a “neutral” rating and issued a $250.00 target price (up previously from $245.00) on shares of Tractor Supply in a research note on Friday, April 26th. Wedbush restated a “neutral” rating and set a $235.00 price target on shares of Tractor Supply in a research note on Tuesday, April 23rd. Finally, Benchmark reiterated a “buy” rating and issued a $256.00 price objective on shares of Tractor Supply in a research report on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $253.54.

About Tractor Supply

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.