Tractor Supply Company $TSCO Stock Position Lessened by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lowered its position in shares of Tractor Supply Company (NASDAQ:TSCO) by 33.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 453,286 shares of the specialty retailer’s stock after selling 230,446 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Tractor Supply were worth $14,183,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC grew its stake in Tractor Supply by 1,253.4% during the second quarter. Elevation Wealth Partners LLC now owns 785 shares of the specialty retailer’s stock worth $25,000 after buying an additional 727 shares during the last quarter. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Tractor Supply during the second quarter worth approximately $26,000. Community Financial Services Group LLC increased its holdings in shares of Tractor Supply by 3,240.0% during the second quarter. Community Financial Services Group LLC now owns 835 shares of the specialty retailer’s stock worth $27,000 after buying an additional 810 shares in the last quarter. Bullseye Investment Management LLC bought a new position in shares of Tractor Supply in the second quarter valued at approximately $31,000. Finally, Pingora Partners LLC bought a new position in shares of Tractor Supply in the second quarter valued at approximately $32,000. 98.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TSCO. BNP Paribas Exane boosted their target price on Tractor Supply from $34.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, October 23rd. Truist Financial set a $33.00 price target on Tractor Supply and gave the company a “hold” rating in a report on Monday, October 19th. Argus set a $41.00 price target on Tractor Supply in a report on Tuesday, July 28th. Telsey Advisory Group reiterated an “outperform” rating and issued a $40.00 price objective (up from $38.00) on shares of Tractor Supply in a research report on Friday, October 23rd. Finally, Zacks Research raised Tractor Supply from a “strong sell” rating to a “hold” rating in a research note on Monday, October 5th. Thirteen research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $38.62.

Tractor Supply Price Performance

Shares of TSCO stock opened at $36.63 on Friday. The firm’s 50 day moving average price is $33.55 and its two-hundred day moving average price is $37.55. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.20 and a current ratio of 1.38. Tractor Supply Company has a 52-week low of $28.36 and a 52-week high of $56.94. The stock has a market cap of $19.00 billion, a PE ratio of 19.69, a PEG ratio of 2.84 and a beta of 0.49.

Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Thursday, October 22nd. The specialty retailer reported $0.43 EPS for the quarter, beating the consensus estimate of $0.41 by $0.02. The company had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $3.82 billion. Tractor Supply had a net margin of 6.13% and a return on equity of 40.05%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS. As a group, analysts forecast that Tractor Supply Company will post 1.95 EPS for the current year.

Tractor Supply Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Shareholders of record on Monday, November 23rd will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, November 23rd. This represents a $0.96 annualized dividend and a yield of 2.6%. Tractor Supply’s dividend payout ratio is presently 51.61%.

Tractor Supply Profile

Tractor Supply Company is a U.S. retailer focused on the needs of rural communities, farmers, ranchers, and outdoor enthusiasts. Its stores and e-commerce business sell products for livestock and pets, including animal feed and supplies, as well as equine goods, fencing, tools, hardware, lawn and garden products, workwear, and seasonal merchandise. The company also operates Petsense, a specialty pet-supply retailer. Tractor Supply serves customers across the United States through its retail stores and digital channels.