New York State Common Retirement Fund Grows Position in Tractor Supply (NASDAQ:TSCO)

New York State Common Retirement Fund lifted its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 14.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 117,978 shares of the specialty retailer’s stock after purchasing an additional 15,084 shares during the quarter. New York State Common Retirement Fund owned about 0.11% of Tractor Supply worth $25,369,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of TSCO. Wellington Management Group LLP grew its holdings in shares of Tractor Supply by 9,370.6% during the 3rd quarter. Wellington Management Group LLP now owns 2,822,151 shares of the specialty retailer’s stock worth $573,038,000 after purchasing an additional 2,792,352 shares during the period. Invesco Ltd. lifted its stake in Tractor Supply by 76.7% during the 3rd quarter. Invesco Ltd. now owns 2,024,182 shares of the specialty retailer’s stock worth $411,010,000 after acquiring an additional 878,874 shares in the last quarter. Alecta Tjanstepension Omsesidigt lifted its stake in Tractor Supply by 87.5% during the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 750,000 shares of the specialty retailer’s stock worth $161,272,000 after acquiring an additional 350,000 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Tractor Supply by 32,987.5% during the 4th quarter. International Assets Investment Management LLC now owns 270,325 shares of the specialty retailer’s stock worth $58,128,000 after acquiring an additional 269,508 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Tractor Supply by 22.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,148,340 shares of the specialty retailer’s stock worth $233,170,000 after acquiring an additional 210,131 shares in the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Kurt D. Barton sold 4,335 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the transaction, the chief financial officer now owns 20,678 shares in the company, valued at approximately $5,314,246. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Kurt D. Barton sold 4,335 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the transaction, the chief financial officer now owns 20,678 shares in the company, valued at approximately $5,314,246. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Colin Yankee sold 8,675 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $250.00, for a total value of $2,168,750.00. Following the transaction, the executive vice president now owns 9,673 shares in the company, valued at approximately $2,418,250. The disclosure for this sale can be found here. Insiders have sold 90,090 shares of company stock worth $21,201,877 in the last quarter. 0.24% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on TSCO shares. Robert W. Baird increased their target price on Tractor Supply from $260.00 to $285.00 and gave the stock an “outperform” rating in a research note on Friday. Mizuho reissued a “neutral” rating and set a $250.00 target price (up previously from $245.00) on shares of Tractor Supply in a research note on Friday. Guggenheim increased their target price on Tractor Supply from $210.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Raymond James increased their target price on Tractor Supply from $250.00 to $285.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, TD Cowen increased their target price on Tractor Supply from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Tractor Supply currently has a consensus rating of “Hold” and a consensus price target of $248.17.

Tractor Supply Price Performance

Shares of NASDAQ TSCO opened at $273.90 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.28 and a current ratio of 1.40. Tractor Supply has a fifty-two week low of $185.00 and a fifty-two week high of $274.66. The firm has a market capitalization of $29.56 billion, a PE ratio of 26.67, a price-to-earnings-growth ratio of 3.97 and a beta of 0.84. The stock’s 50-day simple moving average is $252.44 and its 200-day simple moving average is $226.59.

Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.13. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.40 billion. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the company earned $1.65 EPS. As a group, equities research analysts forecast that Tractor Supply will post 10.23 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend was Friday, February 23rd. This is an increase from Tractor Supply’s previous quarterly dividend of $1.03. Tractor Supply’s dividend payout ratio (DPR) is currently 42.84%.

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.