Kentucky Retirement Systems Cuts Holdings in Tractor Supply (NASDAQ:TSCO)

Kentucky Retirement Systems lowered its holdings in Tractor Supply (NASDAQ:TSCO) by 1.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,124 shares of the specialty retailer’s stock after selling 86 shares during the quarter. Kentucky Retirement Systems’ holdings in Tractor Supply were worth $2,193,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of TSCO. Wellington Management Group LLP raised its stake in Tractor Supply by 63.2% during the 4th quarter. Wellington Management Group LLP now owns 4,606,455 shares of the specialty retailer’s stock valued at $990,526,000 after buying an additional 1,784,304 shares during the last quarter. Capital World Investors grew its holdings in shares of Tractor Supply by 10.0% in the fourth quarter. Capital World Investors now owns 5,849,188 shares of the specialty retailer’s stock worth $1,257,751,000 after acquiring an additional 531,170 shares during the period. Capital International Investors increased its position in Tractor Supply by 7.6% during the fourth quarter. Capital International Investors now owns 6,233,852 shares of the specialty retailer’s stock valued at $1,340,589,000 after acquiring an additional 439,954 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Tractor Supply by 12.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,330,621 shares of the specialty retailer’s stock worth $871,691,000 after purchasing an additional 368,859 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its position in Tractor Supply by 11,952.8% in the first quarter. Clearbridge Investments LLC now owns 241,177 shares of the specialty retailer’s stock worth $63,121,000 after purchasing an additional 239,176 shares during the last quarter. 98.72% of the stock is owned by institutional investors.

Tractor Supply Stock Performance

NASDAQ:TSCO opened at $274.89 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.43 and a quick ratio of 0.25. The company has a market cap of $29.64 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 3.56 and a beta of 0.80. Tractor Supply has a 1 year low of $185.00 and a 1 year high of $290.38. The stock’s 50 day simple moving average is $267.96 and its two-hundred day simple moving average is $266.49.

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

Tractor Supply Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were paid a dividend of $1.10 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $4.40 annualized dividend and a yield of 1.60%. Tractor Supply’s payout ratio is currently 42.84%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on TSCO shares. Loop Capital increased their price objective on shares of Tractor Supply from $250.00 to $260.00 and gave the stock a “hold” rating in a research note on Friday, September 6th. Evercore ISI cut their price objective on shares of Tractor Supply from $290.00 to $280.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Wells Fargo & Company raised their target price on Tractor Supply from $285.00 to $295.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. Truist Financial boosted their price target on Tractor Supply from $289.00 to $293.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $270.00 price objective on shares of Tractor Supply in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $256.72.

Insider Buying and Selling at Tractor Supply

In other news, SVP Matthew L. Rubin sold 540 shares of Tractor Supply stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $262.35, for a total value of $141,669.00. Following the completion of the transaction, 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 available through the SEC website. Company insiders own 0.24% of the company’s stock.

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.