Oppenheimer & Co. Inc. Raises Position in Tractor Supply (NASDAQ:TSCO)

Oppenheimer & Co. Inc. raised its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 122.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,781 shares of the specialty retailer’s stock after buying an additional 10,350 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Tractor Supply were worth $5,464,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. LRI Investments LLC purchased a new position in shares of Tractor Supply in the 1st quarter worth about $28,000. Future Financial Wealth Managment LLC bought a new position in shares of Tractor Supply during the 3rd quarter valued at $29,000. First Personal Financial Services purchased a new position in Tractor Supply in the 3rd quarter worth $29,000. Whittier Trust Co. lifted its stake 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 purchasing an additional 42 shares during the last quarter. Finally, OFI Invest Asset Management purchased a new stake in Tractor Supply during the second quarter valued at about $33,000. 98.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO Kurt D. Barton sold 23,532 shares of Tractor Supply stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $295.64, for a total transaction of $6,957,000.48. Following the completion of the transaction, the chief financial officer now directly owns 9,683 shares in the company, valued at approximately $2,862,682.12. This trade represents a 70.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.24% of the stock is currently owned by insiders.

Tractor Supply Stock Performance

Shares of Tractor Supply stock opened at $277.08 on Friday. Tractor Supply has a 12 month low of $193.73 and a 12 month high of $307.64. The firm has a market capitalization of $29.60 billion, a P/E ratio of 26.95, a P/E/G ratio of 3.50 and a beta of 0.82. The company has a current ratio of 1.48, a quick ratio of 0.17 and a debt-to-equity ratio of 0.81. The business has a fifty day simple moving average of $284.23 and a two-hundred day simple moving average of $275.32.

Tractor Supply Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be given a dividend of $1.10 per share. The ex-dividend date is Monday, November 25th. This represents a $4.40 dividend on an annualized basis and a yield of 1.59%. Tractor Supply’s dividend payout ratio (DPR) is currently 42.80%.

Analyst Ratings Changes

TSCO has been the subject of a number of recent research reports. UBS Group boosted their target price on Tractor Supply from $272.00 to $280.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Loop Capital boosted their price objective on Tractor Supply from $250.00 to $260.00 and gave the company a “hold” rating in a research report on Friday, September 6th. Evercore ISI cut shares of Tractor Supply from an “outperform” rating to an “in-line” rating and set a $300.00 target price on the stock. in a report on Thursday, October 3rd. Wells Fargo & Company lifted their target price on shares of Tractor Supply from $295.00 to $325.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, Truist Financial cut their price target on shares of Tractor Supply from $325.00 to $317.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $282.82.

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.