Allstate Corp Acquires Shares of 19,442 Tractor Supply Company $TSCO

Allstate Corp acquired a new position in shares of Tractor Supply Company (NASDAQ:TSCO) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 19,442 shares of the specialty retailer’s stock, valued at approximately $1,106,000.

Several other institutional investors and hedge funds have also made changes to their positions in TSCO. Invesco Ltd. grew its stake in Tractor Supply by 123.4% during the 2nd quarter. Invesco Ltd. now owns 15,079,313 shares of the specialty retailer’s stock worth $795,735,000 after buying an additional 8,329,462 shares during the last quarter. Norges Bank acquired a new stake in shares of Tractor Supply in the second quarter valued at approximately $274,959,000. Select Equity Group L.P. grew its position in shares of Tractor Supply by 41.9% during the second quarter. Select Equity Group L.P. now owns 12,713,409 shares of the specialty retailer’s stock worth $670,887,000 after acquiring an additional 3,753,414 shares during the last quarter. AXA S.A. grew its position in shares of Tractor Supply by 418.2% during the second quarter. AXA S.A. now owns 2,459,895 shares of the specialty retailer’s stock worth $129,809,000 after acquiring an additional 1,985,168 shares during the last quarter. Finally, Soundwatch Capital LLC acquired a new position in shares of Tractor Supply in the 2nd quarter valued at $81,025,000. 98.72% of the stock is owned by hedge funds and other institutional investors.

Tractor Supply Stock Performance

Shares of TSCO opened at $53.17 on Thursday. The company has a quick ratio of 0.14, a current ratio of 1.30 and a debt-to-equity ratio of 0.69. Tractor Supply Company has a 52-week low of $46.85 and a 52-week high of $63.99. The company has a 50-day simple moving average of $52.31 and a 200-day simple moving average of $55.84. The company has a market capitalization of $28.10 billion, a PE ratio of 25.56, a P/E/G ratio of 2.38 and a beta of 0.74.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, October 23rd. The specialty retailer reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. Tractor Supply had a net margin of 7.18% and a return on equity of 46.18%. The firm had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the previous year, the firm earned $0.45 earnings per share. The firm’s revenue was up 7.2% on a year-over-year basis. Equities research analysts predict that Tractor Supply Company will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 9th. Investors of record on Monday, November 24th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Monday, November 24th. Tractor Supply’s dividend payout ratio (DPR) is presently 44.23%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Morgan Stanley upgraded shares of Tractor Supply from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $50.00 to $60.00 in a research note on Friday, October 24th. UBS Group set a $57.00 target price on shares of Tractor Supply and gave the stock a “neutral” rating in a research note on Friday, January 16th. Robert W. Baird boosted their price target on Tractor Supply from $65.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, October 24th. Jefferies Financial Group raised Tractor Supply from a “hold” rating to a “buy” rating in a research note on Monday, November 24th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $65.00 target price on shares of Tractor Supply in a research note on Thursday, October 23rd. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Tractor Supply currently has an average rating of “Moderate Buy” and a consensus target price of $62.48.

About Tractor Supply

Tractor Supply Company (NASDAQ: TSCO) is a specialty retailer focused on products for the home, farm, ranch and outdoors. The company operates a network of physical retail locations complemented by an e-commerce platform, offering a one-stop source of supplies and equipment for customers with rural and suburban lifestyles. Its merchandise assortment targets a range of needs, from animal and livestock care to maintenance, outdoor power equipment, and seasonal products.

Product categories include animal feed and supplies, pet products, fencing and fencing supplies, equine equipment, lawn and garden tools, work clothing and footwear, and small agricultural and outdoor power equipment.