Edgestream Partners L.P. Buys New Holdings in Tractor Supply (NASDAQ:TSCO)

Edgestream Partners L.P. purchased a new stake in shares of Tractor Supply (NASDAQ:TSCO - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 3,718 shares of the specialty retailer's stock, valued at approximately $1,082,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSCO. Marshall Wace LLP boosted its holdings in Tractor Supply by 2,921.4% in the second quarter. Marshall Wace LLP now owns 357,225 shares of the specialty retailer's stock valued at $96,451,000 after purchasing an additional 345,402 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Tractor Supply by 29,058.6% during the 3rd quarter. International Assets Investment Management LLC now owns 233,269 shares of the specialty retailer's stock valued at $67,865,000 after buying an additional 232,469 shares during the last quarter. Clearbridge Investments LLC grew its position in shares of Tractor Supply by 67.4% during the second quarter. Clearbridge Investments LLC now owns 403,710 shares of the specialty retailer's stock worth $109,002,000 after buying an additional 162,533 shares in the last quarter. Employees Retirement System of Texas acquired a new stake in shares of Tractor Supply in the 2nd quarter valued at about $38,070,000. Finally, Dimensional Fund Advisors LP increased its stake in Tractor Supply by 10.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,123,280 shares of the specialty retailer's stock valued at $303,278,000 after purchasing an additional 110,342 shares during the last quarter. Hedge funds and other institutional investors own 98.72% of the company's stock.

Insider Transactions at Tractor Supply

In other news, CFO Kurt D. Barton sold 23,532 shares of the business's stock in a transaction dated 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 transaction, the chief financial officer now owns 9,683 shares in the company, valued at approximately $2,862,682.12. The trade was a 70.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.24% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TSCO. UBS Group boosted their price objective on Tractor Supply from $272.00 to $280.00 and gave the company a "neutral" rating in a research report on Friday, October 25th. DA Davidson upped their price target on shares of Tractor Supply from $300.00 to $325.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Barclays lifted their price objective on shares of Tractor Supply from $240.00 to $250.00 and gave the company an "equal weight" rating in a research report on Friday, October 25th. Robert W. Baird set a $320.00 price target on shares of Tractor Supply in a research note on Thursday, October 17th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and set a $335.00 target price on shares of Tractor Supply in a research note on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $282.59.

Tractor Supply Stock Down 1.2 %

Shares of TSCO traded down $3.39 during trading hours on Thursday, hitting $282.47. 1,153,161 shares of the company were exchanged, compared to its average volume of 1,049,352. The firm's 50 day moving average is $285.28 and its 200-day moving average is $276.09. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.17 and a current ratio of 1.48. Tractor Supply has a 52 week low of $206.60 and a 52 week high of $307.64. The company has a market cap of $30.18 billion, a PE ratio of 27.81, a PEG ratio of 3.57 and a beta of 0.83.

Tractor Supply Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be issued a dividend of $1.10 per share. The ex-dividend date is Monday, November 25th. This represents a $4.40 annualized dividend and a yield of 1.56%. Tractor Supply's dividend payout ratio (DPR) is presently 42.80%.

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.