September 24, 2023
SNS Financial Group LLC Decreases Holdings in Tractor Supply
According to its most recent filing with the Securities and Exchange Commission (SEC), SNS Financial Group LLC has reduced its holdings in Tractor Supply by 21.3% in the second quarter. The institutional investor now owns 7,289 shares of the specialty retailer’s stock after selling 1,969 shares during the period. As of its most recent SEC filing, these holdings were valued at $1,612,000.
Tractor Supply is a well-known specialty retailer that offers farming and agriculture-related products to customers across the United States. While it continues to thrive in the market, it appears that SNS Financial Group LLC made a strategic decision to lessen its stake in the company.
In addition to this development, Tractor Supply recently declared a quarterly dividend, which was paid on September 12th. Shareholders of record on August 28th received a dividend of $1.03 per share. This represents an annualized dividend payout ratio (DPR) of 41.16% and a dividend yield of 2.01%. The ex-dividend date for this payout was August 25th.
While specific reasons for &SNS Financial Group LLC’s decision to reduce its holdings in Tractor Supply are unknown, investors often adjust their portfolio based on various factors such as market conditions or changes in their investment strategy.
These actions by prominent institutional investors often attract attention from market observers interested in understanding trends within the industry. It will be interesting to see if any other major stakeholders follow suit or if there are indications of how this move might impact Tractor Supply’s future performance.
In conclusion,SNS Financial Group LLC has decreased its stake in Tractor Supply by 21.3% during the second quarter of this year. The current value of their remaining holdings is approximately $1,612,000. Meanwhile, Tractor Supply persists in providing products and services to its customers and recently announced a quarterly dividend payment.
This news serves as a reminder that the stock market is constantly evolving, influenced by a multitude of factors. It is crucial for investors to closely monitor developments and adjust their investment strategies accordingly.
Disclaimer: The information provided in this article should not be taken as financial advice. Investors are advised to conduct thorough research and consult with professionals before making any investment decisions.
Tractor Supply Company
Updated on: 03/03/2024
Debt to equity ratio: Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
ROE: Strong Buy
We did not find social sentiment data for this stock
|Analyst / firm
Institutional Investors and Research Firms Show Confidence in Tractor Supply Company’s Potential for Growth
Tractor Supply Company (NASDAQ:TSCO), a specialty retailer in the agricultural and rural lifestyle sector, has garnered attention from several institutional investors. These investors have been actively buying and selling shares of the business, contributing to its overall financial growth.
One notable investor is Merrion Investment Management Co LLC, which recently acquired a new stake in Tractor Supply during the second quarter of this year. The stake was valued at $221,000, demonstrating Merrion’s confidence in the company’s potential for success.
GPS Wealth Strategies Group LLC, another institutional investor, also increased its stake in Tractor Supply by 7.0% during the same period. This resulted in the ownership of 3,624 shares worth approximately $801,000. Such investments indicate GPS Wealth Strategies Group’s belief in Tractor Supply’s ability to generate favorable returns for shareholders.
Tributary Capital Management LLC followed suit by increasing its stake in Tractor Supply by 5.2%, amounting to 4,456 shares valued at $985,000. This move further solidifies Tributary Capital Management’s trust in the company’s performance and future prospects.
Bartlett & Co. LLC saw substantial growth in its holdings as well through an increase of 1,070 shares, representing a boost of 320.4% compared to the previous quarter. This translated to a total ownership of 1,404 shares with an estimated value of $310,000.
Lastly, Asset Management Resources LLC expanded its holdings by acquiring an additional 52 shares during the second quarter. With an existing ownership of 975 shares valued at $216,000 prior to this acquisition, Asset Management Resources now possesses even more faith in Tractor Supply’s potential within the market.
Overall, these investments highlight institutional investors’ interest and confidence in Tractor Supply as a lucrative opportunity within the specialty retail sector. The fact that hedge funds and other institutional investors own approximately 90.38% of the company’s stock further solidifies this sentiment.
In addition to institutional investments, Tractor Supply has received attention from various research firms. Wells Fargo & Company, for instance, lowered its price objective on Tractor Supply shares from $270.00 to $255.00, while maintaining an “overweight” rating for the company. Similarly, Piper Sandler decreased its price objective from $262.00 to $256.00, also with an “overweight” rating.
Although these adjustments may initially seem concerning, it is important to consider that Evercore ISI increased its price objective on Tractor Supply shares from $230.00 to $235.00, emphasizing their positive outlook and potential for growth in the market. Telsey Advisory Group reaffirmed this sentiment by issuing an “outperform” rating and setting a target price of $265.00 for the stock.
While Wedbush reduced its price objective on Tractor Supply shares from $240.00 to $230.00 and assigned a “neutral” rating, the consensus rating from Bloomberg.com indicates a favorable stance with a majority of analysts offering either a “buy” or “strong buy” recommendation.
As of September 24, 2023, Tractor Supply’s shares traded at $205.05 on the NASDAQ stock exchange, experiencing modest fluctuations during trading hours but ultimately remaining within a stable range. The company’s market capitalization stands at approximately $22.31 billion.
Tractor Supply possesses a price-earnings (PE) ratio of 20.48 and a P/E/G ratio of 2.57—both metrics used by investors to evaluate stocks’ relative value and growth potential within the market context.
The company’s fifty-day simple moving average stood at $217.51 as of the referenced date, indicating relative stability in terms of short-term trends observed in its stock performance over recent months.
Tractor Supply’s financial position is further supported by its 200-day simple moving average of $224.37, which reinforces its long-term stability in the market. This indicator serves as a reliable measure for evaluating stock performance over a more extended period.
Tractor Supply achieved a 12-month low of $181.40 but has also experienced highs of $251.17, showcasing movement within a relatively wide range but without significant volatility.
The company maintains a debt-to-equity ratio of 0.84, reflecting its prudent approach to managing financial obligations while maximizing shareholders’ value.
Tractor Supply last reported earnings results on July 27th, with EPS (earnings per share) amounting to $3.83 for the quarter—a slight miss compared to analysts’ consensus estimate of $3.91 per share.
Despite falling short of expectations concerning EPS, Tractor Supply managed to generate revenue of $4.18 billion for the same quarter, only slightly lower than analysts’ average forecast of $4.26 billion.
Notably, Tractor Supply demonstrated impressive year-over-year revenue growth of 7.2% during this period, emphasizing the company’s resilience and adaptability even in challenging economic circumstances.
Analyzing the same period from the previous year reveals that Tractor Supply