Tractor Supply Company $TSCO Stock Holdings Decreased by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D has reduced its stake in Tractor Supply Company by 10.4%, now holding 178,491 shares worth approximately $9.83 million as of its latest SEC filing.
• Despite the decrease in holdings by some investors, several institutional investors increased their positions significantly, with FORA Capital LLC raising its stake by 434.1% during the last quarter.
• Tractor Supply reported $0.81 earnings per share for the last quarter, surpassing analysts' expectations, along with a revenue of $4.44 billion, up 4.5% year-over-year.

State of New Jersey Common Pension Fund D lowered its stake in Tractor Supply Company (NASDAQ:TSCO - Free Report) by 10.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 178,491 shares of the specialty retailer's stock after selling 20,629 shares during the period. State of New Jersey Common Pension Fund D's holdings in Tractor Supply were worth $9,835,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FORA Capital LLC grew its position in shares of Tractor Supply by 434.1% during the 4th quarter. FORA Capital LLC now owns 35,526 shares of the specialty retailer's stock valued at $1,885,000 after buying an additional 28,875 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Tractor Supply by 7.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 70,944 shares of the specialty retailer's stock valued at $3,911,000 after buying an additional 5,184 shares during the last quarter. Sowell Financial Services LLC grew its position in shares of Tractor Supply by 49.3% during the 1st quarter. Sowell Financial Services LLC now owns 20,029 shares of the specialty retailer's stock valued at $1,104,000 after buying an additional 6,612 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Tractor Supply by 9.2% during the 1st quarter. Sequoia Financial Advisors LLC now owns 112,233 shares of the specialty retailer's stock valued at $6,184,000 after buying an additional 9,483 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Tractor Supply by 27.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 319,132 shares of the specialty retailer's stock valued at $17,584,000 after buying an additional 68,487 shares during the last quarter. Institutional investors own 98.72% of the company's stock.

Insider Buying and Selling at Tractor Supply

In related news, EVP Jonathan S. Estep sold 35,825 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $56.00, for a total transaction of $2,006,200.00. Following the completion of the sale, the executive vice president directly owned 74,605 shares of the company's stock, valued at $4,177,880. This represents a 32.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Colin Yankee sold 6,680 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $58.40, for a total transaction of $390,112.00. Following the sale, the executive vice president directly owned 40,142 shares of the company's stock, valued at approximately $2,344,292.80. This represents a 14.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 204,680 shares of company stock valued at $12,071,552. Corporate insiders own 0.65% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Evercore ISI boosted their price objective on shares of Tractor Supply from $60.00 to $65.00 and gave the company an "in-line" rating in a research report on Friday, July 25th. The Goldman Sachs Group restated a "buy" rating on shares of Tractor Supply in a research report on Friday, July 25th. Guggenheim decreased their target price on shares of Tractor Supply from $60.00 to $55.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Loop Capital upped their target price on shares of Tractor Supply from $48.00 to $60.00 and gave the stock a "hold" rating in a research report on Friday, July 25th. Finally, Wells Fargo & Company upped their target price on shares of Tractor Supply from $63.00 to $65.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $61.80.

Tractor Supply Trading Up 1.3%

Shares of NASDAQ:TSCO opened at $60.49 on Monday. The company has a 50 day moving average of $56.02 and a 200-day moving average of $53.76. The firm has a market cap of $32.06 billion, a P/E ratio of 29.68, a P/E/G ratio of 3.11 and a beta of 0.75. Tractor Supply Company has a twelve month low of $46.85 and a twelve month high of $63.99. The company has a current ratio of 1.28, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The specialty retailer reported $0.81 earnings per share for the quarter, topping analysts' consensus estimates of $0.80 by $0.01. Tractor Supply had a net margin of 7.18% and a return on equity of 46.83%. The company had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.40 billion. During the same period in the prior year, the business posted $3.93 EPS. The business's revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, analysts anticipate that Tractor Supply Company will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Monday, August 25th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Monday, August 25th. This represents a $0.92 annualized dividend and a yield of 1.5%. Tractor Supply's dividend payout ratio is currently 45.10%.

Tractor Supply 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.

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