ZWJ Investment Counsel Inc. Acquires Shares of 803 Tractor Supply (NASDAQ:TSCO)

ZWJ Investment Counsel Inc. bought a new position in shares of Tractor Supply (NASDAQ:TSCO) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 803 shares of the specialty retailer’s stock, valued at approximately $217,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Tractor Supply by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 12,804,873 shares of the specialty retailer’s stock valued at $2,753,432,000 after acquiring an additional 48,439 shares in the last quarter. Capital International Investors lifted its position in shares of Tractor Supply by 7.6% during the fourth quarter. Capital International Investors now owns 6,233,852 shares of the specialty retailer’s stock worth $1,340,589,000 after purchasing an additional 439,954 shares during the last quarter. Capital World Investors lifted its position in shares of Tractor Supply by 10.0% during the fourth quarter. Capital World Investors now owns 5,849,188 shares of the specialty retailer’s stock worth $1,257,751,000 after purchasing an additional 531,170 shares during the last quarter. Wellington Management Group LLP grew its stake in Tractor Supply by 63.2% in the fourth quarter. Wellington Management Group LLP now owns 4,606,455 shares of the specialty retailer’s stock worth $990,526,000 after purchasing an additional 1,784,304 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Tractor Supply by 12.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,330,621 shares of the specialty retailer’s stock valued at $871,691,000 after buying an additional 368,859 shares during the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. TD Cowen lifted their target price on Tractor Supply from $250.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Raymond James raised their price target on shares of Tractor Supply from $250.00 to $285.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Piper Sandler boosted their price objective on shares of Tractor Supply from $265.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. Evercore ISI dropped their price target on Tractor Supply from $290.00 to $280.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Finally, Wedbush restated a “neutral” rating and set a $270.00 price objective on shares of Tractor Supply in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $256.58.

Tractor Supply Price Performance

NASDAQ TSCO traded up $0.19 during trading hours on Tuesday, reaching $264.13. 49,785 shares of the company’s stock were exchanged, compared to its average volume of 1,111,172. The company has a current ratio of 1.43, a quick ratio of 0.25 and a debt-to-equity ratio of 0.76. The stock has a market cap of $28.48 billion, a PE ratio of 25.70, a price-to-earnings-growth ratio of 3.29 and a beta of 0.81. The firm has a fifty day moving average of $267.76 and a 200-day moving average of $261.47. Tractor Supply has a one year low of $185.00 and a one year high of $290.38.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share for the quarter, hitting the consensus estimate of $3.93. Tractor Supply had a net margin of 7.65% and a return on equity of 51.84%. The firm had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $4.28 billion. During the same quarter in the previous year, the company posted $3.83 EPS. Tractor Supply’s revenue was up 1.6% on a year-over-year basis. On average, equities research analysts predict that Tractor Supply will post 10.23 earnings per share for the current fiscal year.

Tractor Supply Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 26th will be paid a dividend of $1.10 per share. The ex-dividend date of this dividend is Monday, August 26th. This represents a $4.40 dividend on an annualized basis and a yield of 1.67%. Tractor Supply’s payout ratio is 42.84%.

Insiders Place Their Bets

In other news, SVP Matthew L. Rubin sold 540 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $262.35, for a total transaction of $141,669.00. Following the completion of the sale, the senior vice president now owns 5,170 shares of the company’s stock, valued at $1,356,349.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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.