Retirement Systems of Alabama Cuts Stock Position in Tractor Supply (NASDAQ:TSCO)

Retirement Systems of Alabama lessened its holdings in Tractor Supply (NASDAQ:TSCO) by 0.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,783 shares of the specialty retailer’s stock after selling 80 shares during the period. Retirement Systems of Alabama’s holdings in Tractor Supply were worth $6,421,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Traynor Capital Management Inc. increased its holdings in shares of Tractor Supply by 9.0% in the 2nd quarter. Traynor Capital Management Inc. now owns 13,521 shares of the specialty retailer’s stock worth $3,651,000 after buying an additional 1,112 shares during the last quarter. Premier Path Wealth Partners LLC increased its stake in Tractor Supply by 19.8% during the second quarter. Premier Path Wealth Partners LLC now owns 997 shares of the specialty retailer’s stock worth $269,000 after acquiring an additional 165 shares during the last quarter. &PARTNERS raised its position in Tractor Supply by 142.8% during the second quarter. &PARTNERS now owns 4,292 shares of the specialty retailer’s stock valued at $1,159,000 after purchasing an additional 2,524 shares during the period. Precedent Wealth Partners LLC lifted its stake in shares of Tractor Supply by 11.3% in the 2nd quarter. Precedent Wealth Partners LLC now owns 1,129 shares of the specialty retailer’s stock valued at $305,000 after purchasing an additional 115 shares during the last quarter. Finally, Griffin Asset Management Inc. boosted its holdings in shares of Tractor Supply by 12.0% in the 2nd quarter. Griffin Asset Management Inc. now owns 3,127 shares of the specialty retailer’s stock worth $844,000 after purchasing an additional 335 shares during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Insider Buying and Selling at Tractor Supply

In other news, SVP Matthew L. Rubin sold 540 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $262.35, for a total transaction of $141,669.00. Following the completion of the sale, the senior vice president now owns 5,170 shares in the company, valued at approximately $1,356,349.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.24% of the stock is owned by insiders.

Tractor Supply Stock Up 1.5 %

Shares of NASDAQ TSCO opened at $269.18 on Monday. The stock has a market capitalization of $29.04 billion, a PE ratio of 26.21, a price-to-earnings-growth ratio of 3.33 and a beta of 0.81. The company has a current ratio of 1.43, a quick ratio of 0.25 and a debt-to-equity ratio of 0.76. Tractor Supply has a 12-month low of $185.00 and a 12-month high of $290.38. The stock’s fifty day simple moving average is $266.67 and its two-hundred day simple moving average is $262.41.

Tractor Supply (NASDAQ:TSCO) last posted its earnings results on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $3.93. The company had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.28 billion. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.83 earnings per share. As a group, analysts expect that Tractor Supply will post 10.23 EPS for the current fiscal year.

Tractor Supply Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 26th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Monday, August 26th. This represents a $4.40 dividend on an annualized basis and a yield of 1.63%. Tractor Supply’s payout ratio is 42.84%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Evercore ISI decreased their price target on Tractor Supply from $290.00 to $280.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Truist Financial raised their target price on shares of Tractor Supply from $289.00 to $293.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Wells Fargo & Company lifted their price target on shares of Tractor Supply from $285.00 to $295.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. Benchmark reissued a “buy” rating and issued a $280.00 price objective on shares of Tractor Supply in a research report on Friday, July 26th. Finally, Piper Sandler boosted their target price on Tractor Supply from $265.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $256.58.

About Tractor Supply

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.