Tractor Supply Co. is an American retail chain that offers a wide range of home improvement, agriculture, livestock, and pet care products. The company was established in 1938 in Minot, North Dakota. Today, Tractor Supply Co. has more than 1,900 stores across 49 states in the US. The company is known for its rural lifestyle appeal, offering everything from chicken feed to cowboy hats. In this article, we will explore the ownership and history of Tractor Supply Co.
The Founders of Tractor Supply Co.
Many people know Tractor Supply Co. as a national retail chain, but very few know the history of the company and the founders who started it all. Tractor Supply Co. was founded by Charles E. Schmidt Sr. and Robert L. Moore. They were both members of the US Army’s Air Corps during WWII. After the war, they both decided to go into business together. They came up with the idea of Tractor Supply Co. over a cup of coffee in 1938. Schmidt and Moore recognized the need for a retail store that would supply farmers with everything they needed to maintain their farming operations. They started with just one store in Minot, North Dakota. They gradually expanded, and today the company has more than 1,900 stores.
The Ownership of Tractor Supply Co.
Tractor Supply Co. is a publicly traded company with its shares listed on the NASDAQ stock exchange under the ticker symbol TSCO. The company was first listed on the NASDAQ in 1994. Today, the company is majority-owned by institutional investors like Vanguard Group and BlackRock. As of 2021, more than 70% of the company is owned by institutional investors. The remaining shares are owned by individual investors, including the company’s executives and directors.
The Growth of Tractor Supply Co.
Tractor Supply Co. has been growing since its inception in 1938. The company’s growth was slow until the late 1990s when it started expanding rapidly. The company has been adding more than 100 new stores per year, and it plans to continue doing so in the foreseeable future. Since 2010, Tractor Supply Co. has opened more than 1000 stores. The company has a strong financial position, and it continues to perform well despite the challenges posed by the COVID-19 pandemic. As of 2021, Tractor Supply Co. has a market capitalization of around $20 billion.
Conclusion
Tractor Supply Co. is a successful retail chain that has been in business for over 80 years. The company was started in 1938 by Charles E. Schmidt Sr. and Robert L. Moore. Today, the company is owned by institutional investors, and it has more than 1,900 stores across 49 states in the US. Despite the challenges posed by the COVID-19 pandemic, Tractor Supply Co. has continued to grow and perform well. The company’s success can be attributed to its rural lifestyle appeal and its ability to meet the needs of farmers and rural customers across the US.