California Public Employees Retirement System Acquires 4,843 Shares of Tractor Supply (NASDAQ:TSCO)

California Public Employees Retirement System boosted its holdings in Tractor Supply (NASDAQ:TSCO) by 1.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 294,113 shares of the specialty retailer’s stock after purchasing an additional 4,843 shares during the quarter. California Public Employees Retirement System owned about 0.27% of Tractor Supply worth $65,028,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in TSCO. Crossmark Global Holdings Inc. grew its stake in Tractor Supply by 8.1% in the second quarter. Crossmark Global Holdings Inc. now owns 8,979 shares of the specialty retailer’s stock valued at $2,011,000 after acquiring an additional 671 shares during the period. Texas Permanent School Fund Corp grew its stake in Tractor Supply by 46.7% in the first quarter. Texas Permanent School Fund Corp now owns 23,030 shares of the specialty retailer’s stock valued at $5,413,000 after acquiring an additional 7,335 shares during the period. KBC Group NV grew its stake in Tractor Supply by 8.4% in the first quarter. KBC Group NV now owns 30,139 shares of the specialty retailer’s stock valued at $7,084,000 after acquiring an additional 2,329 shares during the period. Glass Jacobson Investment Advisors llc acquired a new stake in Tractor Supply in the second quarter valued at approximately $34,000. Finally, Merrion Investment Management Co LLC acquired a new stake in Tractor Supply in the second quarter valued at approximately $221,000. 90.38% of the stock is currently owned by institutional investors.

Tractor Supply Price Performance

Tractor Supply stock opened at $206.73 on Wednesday. Tractor Supply has a 52 week low of $185.00 and a 52 week high of $251.17. The business has a 50-day simple moving average of $203.45 and a 200 day simple moving average of $214.97. The company has a quick ratio of 0.30, a current ratio of 1.52 and a debt-to-equity ratio of 0.83. The stock has a market cap of $22.35 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 2.84 and a beta of 0.85.

Tractor Supply Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Monday, November 27th will be given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Friday, November 24th. Tractor Supply’s payout ratio is 40.23%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Robert W. Baird reduced their price objective on Tractor Supply from $265.00 to $260.00 in a research note on Tuesday, July 18th. Citigroup cut their target price on Tractor Supply from $207.00 to $195.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 1st. Truist Financial cut their target price on Tractor Supply from $235.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, October 27th. Raymond James cut their target price on Tractor Supply from $255.00 to $235.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, October 10th. Finally, Barclays cut their price objective on Tractor Supply from $224.00 to $212.00 and set an “equal weight” rating on the stock in a research report on Monday, October 23rd. Eleven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $234.42.

About Tractor Supply

Tractor Supply Company operates as a rural lifestyle retailer in the United States. The company offers a selection of merchandise, including equine, livestock, pet, and small animal products necessary for their health, care, growth, and containment; hardware, truck, towing, and tool products; seasonal products, such as heating products, lawn and garden items, power equipment, gifts, and toys; work/recreational clothing and footwear; and maintenance products for agricultural and rural use.