Sheets Smith Wealth Management buys $5.9 Million stake in Tractor Supply Company (TSCO)

Tractor Supply Company (TSCO) : Sheets Smith Wealth Management scooped up 540 additional shares in Tractor Supply Company during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 64,470 shares of Tractor Supply Company which is valued at $5.9 Million.Tractor Supply Company makes up approximately 1.83% of Sheets Smith Wealth Management’s portfolio.

Other Hedge Funds, Including , Riverhead Capital Management reduced its stake in TSCO by selling 28,171 shares or 21.69% in the most recent quarter. The Hedge Fund company now holds 101,700 shares of TSCO which is valued at $9.4 Million. Tractor Supply Company makes up approx 0.14% of Riverhead Capital Management’s portfolio.Azimuth Capital Management boosted its stake in TSCO in the latest quarter, The investment management firm added 1,145 additional shares and now holds a total of 64,155 shares of Tractor Supply Company which is valued at $5.9 Million. Tractor Supply Company makes up approx 0.56% of Azimuth Capital Management’s portfolio.Waldron Lp reduced its stake in TSCO by selling 94 shares or 3.81% in the most recent quarter. The Hedge Fund company now holds 2,373 shares of TSCO which is valued at $218,316. Tractor Supply Company makes up approx 0.09% of Waldron Lp’s portfolio. Checchi Capital Advisers added TSCO to its portfolio by purchasing 976 company shares during the most recent quarter which is valued at $91,324. Tractor Supply Company makes up approx 0.02% of Checchi Capital Advisers’s portfolio.

Tractor Supply Company opened for trading at $94.6 and hit $95.64 on the upside on Wednesday, eventually ending the session at $95.12, with a gain of 0.16% or 0.15 points. The heightened volatility saw the trading volume jump to 5,08,704 shares. Company has a market cap of $12,692 M.

On the company’s financial health, Tractor Supply Company reported $0.50 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 20, 2016. Analyst had a consensus of $0.46. The company had revenue of $1467.80 million for the quarter, compared to analysts expectations of $1449.13 million. The company’s revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS.

Many Wall Street Analysts have commented on Tractor Supply Company. Company shares were Reiterated by UBS on Apr 21, 2016 to “Buy”, Firm has raised the Price Target to $ 110 from a previous price target of $97 .Company shares were Reiterated by Deutsche Bank on Apr 21, 2016 to “Buy”, Firm has raised the Price Target to $ 100 from a previous price target of $94 .Company shares were Reiterated by Telsey Advisory Group on Apr 21, 2016 to “Outperform”, Firm has raised the Price Target to $ 103 from a previous price target of $100 .

Tractor Supply Company is an operator of rural lifestyle retail stores in the United States. The Company focuses on supplying the lifestyle needs of recreational farmers and ranchers as well as tradesmen and small businesses. As of December 27 2014 it operated 1382 retail stores in 49 states under the names Tractor Supply Company Del’s Feed & Farm Supply and HomeTown Pet. It also operates a Website under the name TractorSupply.com. It offers a portfolio of products which include equine livestock pet and small animal products; hardware truck towing and tool products; seasonal products including lawn and garden items power equipment gifts and toys; work/recreational clothing and footwear and maintenance products for agricultural and rural use. Its products are offered under various brands which include 4health Blue Mountain Countyline Equistages Groundwork Huskee JobSmart Dumor C.E. Schmidt Paws & Claws Producer’s Pride and Redstone among others.

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