Tractor Supply (NASDAQ:TSCO) Shares Acquired by California State Teachers Retirement System

California State Teachers Retirement System increased its stake in Tractor Supply (NASDAQ:TSCO - Free Report) by 396.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 824,840 shares of the specialty retailer's stock after acquiring an additional 658,749 shares during the quarter. California State Teachers Retirement System owned approximately 0.15% of Tractor Supply worth $43,766,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in TSCO. Smithfield Trust Co increased its position in Tractor Supply by 286.2% in the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock valued at $25,000 after acquiring an additional 352 shares during the period. Blue Trust Inc. grew its stake in shares of Tractor Supply by 28.2% in the 4th quarter. Blue Trust Inc. now owns 1,646 shares of the specialty retailer's stock valued at $87,000 after purchasing an additional 362 shares during the last quarter. Dunhill Financial LLC increased its holdings in shares of Tractor Supply by 325.8% in the fourth quarter. Dunhill Financial LLC now owns 511 shares of the specialty retailer's stock valued at $27,000 after purchasing an additional 391 shares during the period. Archer Investment Corp increased its holdings in shares of Tractor Supply by 400.0% in the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock valued at $27,000 after purchasing an additional 400 shares during the period. Finally, PrairieView Partners LLC raised its stake in shares of Tractor Supply by 400.0% during the fourth quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer's stock worth $26,000 after purchasing an additional 400 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 2,810 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $51.76, for a total value of $145,445.60. Following the transaction, the senior vice president now directly owns 29,722 shares in the company, valued at approximately $1,538,410.72. This represents a 8.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.65% of the stock is owned by insiders.

Analyst Ratings Changes

TSCO has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of Tractor Supply from $59.00 to $56.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Robert W. Baird lowered their target price on shares of Tractor Supply from $63.00 to $56.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Mizuho dropped their price target on shares of Tractor Supply from $62.00 to $58.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Wall Street Zen upgraded shares of Tractor Supply from a "sell" rating to a "hold" rating in a research report on Saturday, May 24th. Finally, Citigroup lowered their price objective on Tractor Supply from $59.00 to $51.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $58.02.

Tractor Supply Price Performance

NASDAQ TSCO traded down $0.55 during trading hours on Friday, reaching $48.42. The company's stock had a trading volume of 7,785,239 shares, compared to its average volume of 5,168,589. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. The company's 50-day moving average is $51.15 and its two-hundred day moving average is $53.67. Tractor Supply has a fifty-two week low of $46.85 and a fifty-two week high of $61.53. The stock has a market cap of $25.67 billion, a PE ratio of 23.74, a PEG ratio of 2.95 and a beta of 0.82.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.03). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. The business had revenue of $3.47 billion during the quarter, compared to analysts' expectations of $3.55 billion. During the same period last year, the company earned $1.83 EPS. The firm's revenue for the quarter was up 2.1% on a year-over-year basis. Analysts forecast that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply declared that its Board of Directors has initiated a stock repurchase plan on Thursday, February 13th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to reacquire up to 3.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Tractor Supply Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Wednesday, May 28th. Tractor Supply's dividend payout ratio (DPR) is presently 45.77%.

About Tractor Supply

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.