Employees Retirement System of Texas Acquires Shares of 141,000 Tractor Supply (NASDAQ:TSCO)

Employees Retirement System of Texas bought a new position in Tractor Supply (NASDAQ:TSCO) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 141,000 shares of the specialty retailer’s stock, valued at approximately $38,070,000. Employees Retirement System of Texas owned approximately 0.13% of Tractor Supply as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Wedmont Private Capital boosted its position in shares of Tractor Supply by 3.6% during the first quarter. Wedmont Private Capital now owns 1,309 shares of the specialty retailer’s stock valued at $331,000 after buying an additional 45 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Tractor Supply by 998.2% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 109,403 shares of the specialty retailer’s stock valued at $23,525,000 after acquiring an additional 99,441 shares during the last quarter. Scotia Capital Inc. grew its stake in shares of Tractor Supply by 792.9% in the fourth quarter. Scotia Capital Inc. now owns 19,438 shares of the specialty retailer’s stock worth $4,180,000 after acquiring an additional 17,261 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Tractor Supply by 527.7% during the second quarter. Assenagon Asset Management S.A. now owns 26,501 shares of the specialty retailer’s stock valued at $7,155,000 after purchasing an additional 22,279 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Tractor Supply by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 12,804,873 shares of the specialty retailer’s stock valued at $2,753,432,000 after purchasing an additional 48,439 shares during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on TSCO shares. Truist Financial lifted their target price on shares of Tractor Supply from $289.00 to $293.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Evercore ISI reduced their price objective on Tractor Supply from $290.00 to $280.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Telsey Advisory Group reissued an “outperform” rating and issued a $305.00 target price on shares of Tractor Supply in a research report on Thursday, July 25th. Wedbush restated a “neutral” rating and set a $270.00 price target on shares of Tractor Supply in a research note on Friday, July 26th. Finally, Melius Research initiated coverage on shares of Tractor Supply in a research note on Monday. They issued a “buy” rating and a $315.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $258.96.

Insider Transactions at Tractor Supply

In related news, SVP Matthew L. Rubin sold 540 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were 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 directly owns 5,170 shares of the company’s stock, valued at $1,356,349.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.24% of the company’s stock.

Tractor Supply Stock Performance

TSCO opened at $280.86 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.25 and a current ratio of 1.43. The stock has a market capitalization of $30.30 billion, a price-to-earnings ratio of 27.35, a PEG ratio of 3.48 and a beta of 0.80. The company has a fifty day moving average of $268.08 and a 200 day moving average of $267.37. Tractor Supply has a fifty-two week low of $185.00 and a fifty-two week high of $290.38.

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

Tractor Supply Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date was Monday, August 26th. Tractor Supply’s payout ratio is 42.84%.

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.