Assetmark Inc. Purchases 1,998 Shares of Tractor Supply Company $TSCO

Assetmark Inc. grew its stake in shares of Tractor Supply Company (NASDAQ:TSCO) by 150.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,329 shares of the specialty retailer’s stock after acquiring an additional 1,998 shares during the period. Assetmark Inc.’s holdings in Tractor Supply were worth $176,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. GW&K Investment Management LLC raised its position in Tractor Supply by 89.3% in the 1st quarter. GW&K Investment Management LLC now owns 479 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 226 shares during the period. Opal Wealth Advisors LLC purchased a new stake in shares of Tractor Supply in the 2nd quarter worth about $35,000. Financial Gravity Asset Management Inc. bought a new position in Tractor Supply in the 1st quarter worth about $39,000. Zions Bancorporation National Association UT purchased a new stake in shares of Tractor Supply during the first quarter valued at $41,000. Finally, Whittier Trust Co. boosted its stake in shares of Tractor Supply by 79.8% in the 2nd quarter. Whittier Trust Co. now owns 899 shares of the specialty retailer’s stock worth $47,000 after buying an additional 399 shares during the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Trading Up 2.2%

Shares of TSCO opened at $54.27 on Friday. Tractor Supply Company has a fifty-two week low of $46.85 and a fifty-two week high of $63.99. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.14 and a current ratio of 1.30. The stock has a fifty day moving average of $56.69 and a two-hundred day moving average of $55.38. The company has a market capitalization of $28.76 billion, a PE ratio of 26.09, a price-to-earnings-growth ratio of 2.93 and a beta of 0.70.

Tractor Supply (NASDAQ:TSCO) last posted its earnings results on Thursday, October 23rd. The specialty retailer reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. Tractor Supply had a return on equity of 46.18% and a net margin of 7.18%.The business had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same quarter last year, the firm earned $0.45 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. Tractor Supply has set its FY 2025 guidance at 2.060-2.130 EPS. As a group, analysts forecast that Tractor Supply Company will post 2.17 EPS for the current year.

Tractor Supply Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Monday, November 24th will be issued a $0.23 dividend. The ex-dividend date is Monday, November 24th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.7%. Tractor Supply’s dividend payout ratio is presently 44.23%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. increased their price target on Tractor Supply from $56.00 to $65.00 and gave the stock a “neutral” rating in a research note on Monday, July 21st. Wolfe Research began coverage on shares of Tractor Supply in a research report on Thursday, September 18th. They issued an “outperform” rating and a $70.00 price objective on the stock. Raymond James Financial reaffirmed an “outperform” rating and issued a $65.00 price objective (up from $57.00) on shares of Tractor Supply in a report on Friday, July 25th. Evercore ISI raised shares of Tractor Supply from a “hold” rating to an “outperform” rating and increased their price objective for the company from $60.00 to $65.00 in a report on Wednesday. Finally, Mizuho lifted their target price on Tractor Supply from $64.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, October 24th. Fifteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $63.95.

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.