Tractor Supply (NASDAQ:TSCO) Shares Bought by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury boosted its holdings in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 380.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 164,890 shares of the specialty retailer's stock after purchasing an additional 130,593 shares during the period. State of Tennessee Department of Treasury's holdings in Tractor Supply were worth $8,749,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Smithfield Trust Co boosted its stake in shares of Tractor Supply by 286.2% in the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock worth $25,000 after buying an additional 352 shares during the last quarter. PrairieView Partners LLC increased its holdings in shares of Tractor Supply by 400.0% during 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. Future Financial Wealth Managment LLC increased its holdings in shares of Tractor Supply by 400.0% during the 4th quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer's stock valued at $27,000 after purchasing an additional 400 shares in the last quarter. Archer Investment Corp lifted 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 during the period. Finally, Kentucky Trust Co acquired a new stake in Tractor Supply during the fourth quarter valued at $27,000. 98.72% of the stock is owned by hedge funds and other institutional investors.

Tractor Supply Trading Up 0.9 %

NASDAQ:TSCO traded up $0.45 during trading hours on Tuesday, reaching $49.45. 742,499 shares of the stock were exchanged, compared to its average volume of 5,103,206. The business has a 50-day moving average of $52.86 and a two-hundred day moving average of $54.65. Tractor Supply has a twelve month low of $46.85 and a twelve month high of $61.53. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $26.29 billion, a price-to-earnings ratio of 24.12, a PEG ratio of 2.95 and a beta of 0.88.

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

Tractor Supply Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were issued a dividend of $0.92 per share. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a yield of 7.44%. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's dividend payout ratio (DPR) is presently 45.77%.

Tractor Supply announced that its board has approved a share buyback program on Thursday, February 13th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to purchase up to 3.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on TSCO shares. Telsey Advisory Group set a $60.00 price target on Tractor Supply in a report on Friday. Guggenheim decreased their target price on Tractor Supply from $60.00 to $55.00 and set a "buy" rating on the stock in a research report on Friday. Raymond James cut their price target on shares of Tractor Supply from $61.00 to $57.00 and set an "outperform" rating for the company in a report on Friday. Stephens initiated coverage on shares of Tractor Supply in a report on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 price objective on the stock. Finally, UBS Group set a $54.00 target price on shares of Tractor Supply in a research note on Friday. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $58.02.

Insider Activity at Tractor Supply

In related news, EVP Colin Yankee sold 24,602 shares of the firm's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $54.15, for a total transaction of $1,332,198.30. Following the transaction, the executive vice president now owns 33,645 shares of the company's stock, valued at $1,821,876.75. This trade represents a 42.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Matthew L. Rubin sold 3,850 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $57.69, for a total transaction of $222,106.50. Following the transaction, the senior vice president now directly owns 31,787 shares of the company's stock, valued at $1,833,792.03. This represents a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 137,993 shares of company stock valued at $7,538,068 over the last ninety days. Insiders own 0.65% of the company's stock.

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.