Kornitzer Capital Management Inc. KS reduced its position in shares of Tractor Supply Co. (NASDAQ:TSCO) by 24.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 112,930 shares of the company’s stock after selling 37,115 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Tractor Supply were worth $10,297,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in TSCO. Seven Eight Capital LLC purchased a new position in shares of Tractor Supply during the first quarter worth approximately $123,000. Douglass Winthrop Advisors LLC purchased a new position in shares of Tractor Supply during the second quarter worth approximately $219,000. Eqis Capital Management Inc. increased its position in shares of Tractor Supply by 7.0% in the second quarter. Eqis Capital Management Inc. now owns 2,602 shares of the company’s stock worth $237,000 after buying an additional 171 shares during the period. WealthTrust Axiom LLC purchased a new position in shares of Tractor Supply during the second quarter worth approximately $240,000. Finally, First American Bank purchased a new position in shares of Tractor Supply during the second quarter worth approximately $246,000. 91.58% of the stock is owned by institutional investors.
Tractor Supply Co. (NASDAQ:TSCO) traded down 0.18% during midday trading on Friday, reaching $67.26. 1,803,506 shares of the company’s stock were exchanged. The stock has a market cap of $8.99 billion, a PE ratio of 21.57 and a beta of 1.20. Tractor Supply Co. has a 12 month low of $66.43 and a 12 month high of $97.25. The firm has a 50 day moving average of $71.86 and a 200-day moving average of $86.65.
Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Wednesday, July 20th. The company reported $1.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.16. The firm earned $1.85 billion during the quarter, compared to analyst estimates of $1.93 billion. Tractor Supply had a net margin of 6.57% and a return on equity of 30.30%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the business earned $1.12 earnings per share. On average, equities research analysts predict that Tractor Supply Co. will post $3.24 earnings per share for the current year.
A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Tractor Supply from $105.00 to $103.00 and set an “overweight” rating for the company in a research report on Thursday, June 30th. Nomura reaffirmed a “buy” rating and set a $105.00 target price on shares of Tractor Supply in a report on Thursday, June 30th. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $96.00 target price (down previously from $100.00) on shares of Tractor Supply in a report on Thursday, June 30th. Wedbush reaffirmed an “outperform” rating and set a $96.00 target price on shares of Tractor Supply in a report on Thursday, June 30th. Finally, BTIG Research downgraded shares of Tractor Supply from a “buy” rating to a “neutral” rating in a report on Thursday, September 8th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company. Tractor Supply presently has an average rating of “Hold” and an average price target of $88.37.
About Tractor Supply
Tractor Supply Company is an operator of rural lifestyle retail stores in the United States. The Company operates in the retail sale of products that support the rural lifestyle segment. The Company focuses on supplying the lifestyle needs of recreational farmers and ranchers, as well as tradesmen and small businesses.
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