Palisade Asset Management LLC Has $11.06 Million Stock Holdings in Tractor Supply (NASDAQ:TSCO)

Palisade Asset Management LLC lowered its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 1.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 38,017 shares of the specialty retailer’s stock after selling 576 shares during the period. Palisade Asset Management LLC’s holdings in Tractor Supply were worth $11,060,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Future Financial Wealth Managment LLC bought a new stake in Tractor Supply in the third quarter valued at $29,000. First Personal Financial Services bought a new stake in Tractor Supply in the 3rd quarter valued at about $29,000. LRI Investments LLC acquired a new position in Tractor Supply during the 1st quarter worth approximately $28,000. Whittier Trust Co. boosted its holdings in Tractor Supply by 60.9% in the second quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock worth $30,000 after acquiring an additional 42 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new stake in Tractor Supply in the second quarter valued at approximately $33,000. 98.72% of the stock is currently owned by institutional investors.

Tractor Supply Price Performance

Shares of NASDAQ:TSCO opened at $281.71 on Friday. The company has a market capitalization of $30.10 billion, a P/E ratio of 27.40, a price-to-earnings-growth ratio of 3.43 and a beta of 0.82. The company’s 50-day moving average is $284.18 and its 200 day moving average is $275.47. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.17 and a current ratio of 1.48. Tractor Supply has a fifty-two week low of $197.00 and a fifty-two week high of $307.64.

Tractor Supply Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date is Monday, November 25th. Tractor Supply’s payout ratio is 42.80%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Wedbush reaffirmed a “neutral” rating and set a $270.00 target price on shares of Tractor Supply in a research report on Friday, October 25th. UBS Group upped their price objective on shares of Tractor Supply from $272.00 to $280.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Barclays raised their price objective on shares of Tractor Supply from $240.00 to $250.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Telsey Advisory Group reissued an “outperform” rating and set a $335.00 target price on shares of Tractor Supply in a research report on Thursday, October 24th. Finally, Mizuho raised their price target on shares of Tractor Supply from $250.00 to $270.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tractor Supply has a consensus rating of “Moderate Buy” and an average price target of $282.82.

Insider Activity

In related news, CFO Kurt D. Barton sold 23,532 shares of Tractor Supply 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 completion of the sale, the chief financial officer now owns 9,683 shares of the company’s stock, valued at approximately $2,862,682.12. This trade represents a 70.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.24% of the company’s stock.

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.