Public Employees Retirement System of Ohio Raises Holdings in Tractor Supply (NASDAQ:TSCO)

Public Employees Retirement System of Ohio raised its stake in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 391.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 247,417 shares of the specialty retailer's stock after buying an additional 197,049 shares during the period. Public Employees Retirement System of Ohio's holdings in Tractor Supply were worth $13,128,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of TSCO. Smithfield Trust Co increased its stake in shares of 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 purchasing an additional 352 shares in the last quarter. Coppell Advisory Solutions LLC increased its stake in shares of Tractor Supply by 944.4% in the 4th quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer's stock valued at $25,000 after purchasing an additional 425 shares in the last quarter. PrairieView Partners LLC increased its stake in shares of Tractor Supply by 400.0% in the 4th quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer's stock valued at $26,000 after purchasing an additional 400 shares in the last quarter. Archer Investment Corp increased its stake in shares of Tractor Supply by 400.0% in the 4th quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock valued at $27,000 after purchasing an additional 400 shares in the last quarter. Finally, Kentucky Trust Co purchased a new position in shares of Tractor Supply in the 4th quarter valued at about $27,000. Hedge funds and other institutional investors own 98.72% of the company's stock.

Insider Buying and Selling at Tractor Supply

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on TSCO shares. Citigroup cut their price target on Tractor Supply from $59.00 to $51.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. JPMorgan Chase & Co. cut their price target on Tractor Supply from $59.00 to $56.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Mizuho cut their price objective on Tractor Supply from $62.00 to $58.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Wall Street Zen upgraded Tractor Supply from a "sell" rating to a "hold" rating in a research note on Saturday, May 24th. Finally, Robert W. Baird cut their price objective on Tractor Supply from $63.00 to $56.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $58.02.

Tractor Supply Trading Down 0.9%

TSCO traded down $0.46 during trading hours on Friday, reaching $48.51. The company's stock had a trading volume of 1,540,782 shares, compared to its average volume of 5,143,766. 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 $25.72 billion, a PE ratio of 23.79, a P/E/G ratio of 2.95 and a beta of 0.82. The business's 50-day moving average is $51.24 and its 200-day moving average is $53.75. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.03). The business had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.55 billion. Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. The company's revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.83 earnings per share. As a group, equities research analysts predict that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply announced that its Board of Directors has authorized a stock repurchase program on Thursday, February 13th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the specialty retailer to buy up to 3.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

Tractor Supply Cuts Dividend

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

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.