Teachers Retirement System of The State of Kentucky Raises Position in Tractor Supply (NASDAQ:TSCO)

Teachers Retirement System of The State of Kentucky lifted its stake in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 390.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 39,805 shares of the specialty retailer's stock after acquiring an additional 31,693 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Tractor Supply were worth $2,112,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of TSCO. Smithfield Trust Co increased its stake in shares of Tractor Supply by 286.2% during the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock valued at $25,000 after buying an additional 352 shares during the period. PrairieView Partners LLC raised its holdings 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. Future Financial Wealth Managment LLC lifted its position in shares of Tractor Supply by 400.0% in the 4th quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 400 shares during the period. Archer Investment Corp boosted its stake in shares of Tractor Supply by 400.0% during 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 in the last quarter. Finally, Kentucky Trust Co purchased a new stake in Tractor Supply during the fourth quarter worth $27,000. Hedge funds and other institutional investors own 98.72% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their price objective on Tractor Supply from $59.00 to $56.00 and set a "neutral" rating on the stock in a research report on Monday. Mizuho dropped their target price on Tractor Supply from $62.00 to $58.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. UBS Group set a $54.00 price objective on shares of Tractor Supply in a report on Friday, April 25th. Bank of America boosted their target price on shares of Tractor Supply from $44.00 to $53.00 and gave the stock an "underperform" rating in a research report on Thursday, January 16th. Finally, Stephens assumed coverage on Tractor Supply in a research report on Wednesday, April 9th. They issued an "equal weight" rating and a $56.00 target price on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $58.02.

Insider Buying and Selling

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of the firm's stock in a transaction on Thursday, February 20th. The shares were 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 approximately $1,833,792.03. This trade represents a 10.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Harry A. Lawton III sold 88,095 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $54.59, for a total transaction of $4,809,106.05. Following the completion of the sale, the chief executive officer now owns 488,852 shares of the company's stock, valued at approximately $26,686,430.68. The trade was a 15.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,993 shares of company stock worth $7,538,068 over the last 90 days. 0.65% of the stock is owned by insiders.

Tractor Supply Trading Down 1.1 %

TSCO traded down $0.57 on Thursday, hitting $50.05. The company had a trading volume of 1,791,132 shares, compared to its average volume of 5,451,761. Tractor Supply has a 1 year low of $46.85 and a 1 year high of $61.53. The firm has a market cap of $26.61 billion, a P/E ratio of 24.53, a PEG ratio of 2.95 and a beta of 0.88. The company's fifty day moving average price is $52.59 and its 200 day moving average price is $54.59. 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 (NASDAQ:TSCO - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.37 by ($0.03). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. The firm had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.55 billion. During the same period in the previous year, the firm posted $1.83 earnings per share. The company's quarterly revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts expect that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply Increases Dividend

The business also recently declared 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 of this dividend was Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a yield of 7.35%. This is a positive change from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's dividend payout ratio (DPR) is currently 45.77%.

Tractor Supply announced that its Board of Directors has approved a share repurchase program on Thursday, February 13th that permits the company to buyback $1.00 billion in 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 typically an indication that the company's board of directors believes its stock is undervalued.

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.