Tractor Supply (NASDAQ:TSCO) Stake Raised by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Tractor Supply (NASDAQ:TSCO) by 383.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 113,586 shares of the specialty retailer’s stock after purchasing an additional 90,104 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Tractor Supply were worth $6,027,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Providence Capital Advisors LLC acquired a new position in Tractor Supply in the 3rd quarter worth about $32,000. Larson Financial Group LLC increased its position in Tractor Supply by 29.4% in the 3rd quarter. Larson Financial Group LLC now owns 286 shares of the specialty retailer’s stock worth $83,000 after purchasing an additional 65 shares during the last quarter. First Horizon Advisors Inc. increased its position in Tractor Supply by 13.2% in the 3rd quarter. First Horizon Advisors Inc. now owns 351 shares of the specialty retailer’s stock worth $102,000 after purchasing an additional 41 shares during the last quarter. Icon Wealth Advisors LLC acquired a new position in Tractor Supply in the 3rd quarter worth about $111,000. Finally, Glen Eagle Advisors LLC increased its position in Tractor Supply by 75.8% in the 3rd quarter. Glen Eagle Advisors LLC now owns 464 shares of the specialty retailer’s stock worth $135,000 after purchasing an additional 200 shares during the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Matthew L. Rubin sold 3,850 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total transaction of $222,106.50. Following the completion of the transaction, the senior vice president now owns 31,787 shares in the company, valued at $1,833,792.03. This trade represents a 10.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kurt D. Barton sold 12,146 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $56.00, for a total value of $680,176.00. Following the transaction, the chief financial officer now owns 47,715 shares of the company’s stock, valued at $2,672,040. This trade represents a 20.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 137,993 shares of company stock worth $7,538,068. 0.24% of the stock is currently owned by company insiders.

Analyst Ratings Changes

TSCO has been the topic of several research reports. Guggenheim reaffirmed a “buy” rating and issued a $60.00 target price on shares of Tractor Supply in a research report on Friday, January 31st. Telsey Advisory Group reissued an “outperform” rating and set a $67.00 price objective on shares of Tractor Supply in a report on Thursday, January 30th. Barclays lowered their price objective on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating on the stock in a report on Monday, December 30th. Bank of America increased their price objective on Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a report on Thursday, January 16th. Finally, Wells Fargo & Company lowered their price objective on Tractor Supply from $65.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Tractor Supply presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.22.

Tractor Supply Price Performance

Shares of TSCO stock opened at $52.46 on Friday. The stock has a 50 day moving average of $55.03 and a two-hundred day moving average of $55.68. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. Tractor Supply has a 12 month low of $48.30 and a 12 month high of $61.53. The company has a market capitalization of $28.01 billion, a P/E ratio of 25.72, a P/E/G ratio of 2.95 and a beta of 0.85.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $2.28 by ($1.84). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. As a group, equities analysts expect that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply announced that its board has authorized a share buyback plan on Thursday, February 13th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the specialty retailer to repurchase up to 3.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were given a $0.92 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 7.01%. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio (DPR) is currently 45.10%.

Tractor Supply Company 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.