Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $6.03 Million Stake in Tractor Supply (NASDAQ:TSCO)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 383.7% in the fourth quarter, HoldingsChannel reports. The firm owned 113,586 shares of the specialty retailer’s stock after acquiring an additional 90,104 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Tractor Supply were worth $6,027,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Baldwin Investment Management LLC increased its stake in shares of Tractor Supply by 0.3% in the 3rd quarter. Baldwin Investment Management LLC now owns 11,402 shares of the specialty retailer’s stock valued at $3,317,000 after buying an additional 38 shares during the period. First Horizon Advisors Inc. increased its stake in shares of Tractor Supply by 13.2% in the 3rd quarter. First Horizon Advisors Inc. now owns 351 shares of the specialty retailer’s stock valued at $102,000 after buying an additional 41 shares during the period. Cynosure Group LLC increased its stake in shares of Tractor Supply by 2.8% in the 3rd quarter. Cynosure Group LLC now owns 1,529 shares of the specialty retailer’s stock valued at $445,000 after buying an additional 42 shares during the period. Larson Financial Group LLC increased its stake in shares of Tractor Supply by 29.4% in the 3rd quarter. Larson Financial Group LLC now owns 286 shares of the specialty retailer’s stock valued at $83,000 after buying an additional 65 shares during the period. Finally, Pine Valley Investments Ltd Liability Co increased its stake in shares of Tractor Supply by 7.1% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 978 shares of the specialty retailer’s stock valued at $285,000 after buying an additional 65 shares during the period. 98.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Matthew L. Rubin sold 3,850 shares of the company’s 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 sale, the senior vice president now owns 31,787 shares in the company, valued at approximately $1,833,792.03. This represents a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Colin Yankee sold 24,602 shares of the company’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $54.15, for a total value of $1,332,198.30. Following the sale, the executive vice president now owns 33,645 shares in the company, valued at $1,821,876.75. The trade was a 42.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 137,993 shares of company stock worth $7,538,068 over the last three months. Corporate insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

TSCO has been the subject of several research reports. Loop Capital lifted their target price on Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, December 12th. Guggenheim reaffirmed a “buy” rating and set a $60.00 price objective on shares of Tractor Supply in a research note on Friday, January 31st. Wells Fargo & Company decreased their price objective on Tractor Supply from $65.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Barclays decreased their price objective on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a research note on Monday, December 30th. Finally, Truist Financial decreased their price objective on Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Two analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $59.22.

Tractor Supply Stock Performance

Shares of Tractor Supply stock opened at $52.46 on Friday. The firm has a market cap of $28.01 billion, a price-to-earnings ratio of 25.72, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. The stock’s 50-day moving average is $55.03 and its 200-day moving average is $55.68. Tractor Supply has a one year low of $48.30 and a one year high of $61.53. 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) last issued its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $2.28 by ($1.84). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. Equities analysts predict that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply announced that its board has initiated a stock repurchase program on Thursday, February 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to buy up to 3.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Tractor Supply Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 7.01%. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. Tractor Supply’s payout ratio is 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.