Apollon Wealth Management LLC Raises Position in Tractor Supply (NASDAQ:TSCO)

Apollon Wealth Management LLC grew its position in Tractor Supply (NASDAQ:TSCO) by 3.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,747 shares of the specialty retailer’s stock after purchasing an additional 171 shares during the quarter. Apollon Wealth Management LLC’s holdings in Tractor Supply were worth $1,672,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. LRI Investments LLC purchased a new stake in shares of Tractor Supply in the first quarter valued at about $28,000. Future Financial Wealth Managment LLC acquired a new position in shares of Tractor Supply in the third quarter valued at approximately $29,000. First Personal Financial Services acquired a new position in Tractor Supply during the third quarter worth approximately $29,000. Whittier Trust Co. increased its position in Tractor Supply by 60.9% during the second quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock worth $30,000 after purchasing an additional 42 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new position in Tractor Supply during the second quarter worth approximately $33,000. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Kurt D. Barton sold 23,532 shares of Tractor Supply stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total transaction of $6,957,000.48. Following the completion of the sale, the chief financial officer now owns 9,683 shares of the company’s stock, valued at approximately $2,862,682.12. This trade represents a 70.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.24% of the stock is currently owned by insiders.

Tractor Supply Stock Performance

Shares of NASDAQ:TSCO opened at $277.08 on Friday. The company has a market capitalization of $29.60 billion, a price-to-earnings ratio of 26.95, a P/E/G ratio of 3.50 and a beta of 0.82. Tractor Supply has a fifty-two week low of $193.73 and a fifty-two week high of $307.64. The firm’s 50 day simple moving average is $284.23 and its 200 day simple moving average is $275.32. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.48 and a quick ratio of 0.17.

Tractor Supply Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be issued a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Monday, November 25th. Tractor Supply’s payout ratio is presently 42.80%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TSCO shares. Gordon Haskett downgraded shares of Tractor Supply from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, October 24th. Truist Financial decreased their price objective on shares of Tractor Supply from $325.00 to $317.00 and set a “buy” rating for the company in a 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. Evercore ISI downgraded shares of Tractor Supply from an “outperform” rating to an “in-line” rating and set a $300.00 price target on the stock. in a research report on Thursday, October 3rd. Finally, Citigroup downgraded shares of Tractor Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Tractor Supply has an average rating of “Hold” and an average price target of $282.82.

Tractor Supply 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.