Tractor Supply (NASDAQ:TSCO) Shares Bought by California Public Employees Retirement System

California Public Employees Retirement System lifted its stake in Tractor Supply (NASDAQ:TSCO) by 394.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,273,508 shares of the specialty retailer’s stock after buying an additional 1,016,031 shares during the period. California Public Employees Retirement System owned approximately 0.24% of Tractor Supply worth $67,572,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. BOK Financial Private Wealth Inc. grew its holdings in shares of Tractor Supply by 330.2% during the fourth quarter. BOK Financial Private Wealth Inc. now owns 21,355 shares of the specialty retailer’s stock worth $1,133,000 after purchasing an additional 16,391 shares during the last quarter. Blueshift Asset Management LLC increased its position in Tractor Supply by 571.8% during the fourth quarter. Blueshift Asset Management LLC now owns 66,815 shares of the specialty retailer’s stock worth $3,545,000 after buying an additional 56,870 shares during the period. Callan Family Office LLC purchased a new stake in Tractor Supply in the fourth quarter valued at approximately $503,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Tractor Supply by 379.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 890,898 shares of the specialty retailer’s stock valued at $47,271,000 after acquiring an additional 704,896 shares during the period. Finally, Citizens Financial Group Inc. RI grew its position in shares of Tractor Supply by 368.7% during the fourth quarter. Citizens Financial Group Inc. RI now owns 7,485 shares of the specialty retailer’s stock worth $397,000 after acquiring an additional 5,888 shares during the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TSCO has been the subject of several research reports. Mizuho upped their price target on shares of Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Barclays decreased their target price on shares of Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a research note on Monday, December 30th. Guggenheim restated a “buy” rating and issued a $60.00 price target on shares of Tractor Supply in a research report on Friday, January 31st. Bank of America increased their price objective on Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a research report on Thursday, January 16th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $67.00 target price on shares of Tractor Supply in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $59.22.

Tractor Supply Stock Up 0.1 %

Tractor Supply stock opened at $55.13 on Wednesday. Tractor Supply has a fifty-two week low of $48.30 and a fifty-two week high of $61.53. The firm has a market capitalization of $29.44 billion, a price-to-earnings ratio of 27.02, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. The stock’s fifty day moving average is $55.02 and its two-hundred day moving average is $55.64. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 EPS for the quarter, missing the consensus estimate of $2.28 by ($1.84). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. Analysts predict that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were paid a $0.92 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a yield of 6.68%. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio is presently 45.10%.

Tractor Supply announced that its board has initiated a stock repurchase program on Thursday, February 13th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to buy up to 3.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $54.59, for a total transaction of $4,809,106.05. Following the completion of the sale, the chief executive officer now directly owns 488,852 shares in the company, valued at $26,686,430.68. The trade was a 15.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Matthew L. Rubin sold 3,850 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total transaction of $222,106.50. Following the transaction, the senior vice president now directly owns 31,787 shares in the company, valued at $1,833,792.03. The trade was a 10.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 137,993 shares of company stock valued at $7,538,068. Corporate 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.