Teacher Retirement System of Texas Boosts Stake in Tractor Supply (NASDAQ:TSCO)

Teacher Retirement System of Texas boosted its stake in shares of Tractor Supply (NASDAQ:TSCO) by 41.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,510 shares of the specialty retailer’s stock after purchasing an additional 10,144 shares during the period. Teacher Retirement System of Texas’ holdings in Tractor Supply were worth $1,831,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of TSCO. Grey Fox Wealth Advisors LLC lifted its position in shares of Tractor Supply by 400.0% during the 4th quarter. Grey Fox Wealth Advisors LLC now owns 6,460 shares of the specialty retailer’s stock valued at $343,000 after buying an additional 5,168 shares in the last quarter. Sandy Spring Bank raised its stake in Tractor Supply by 547.7% during the 4th quarter. Sandy Spring Bank now owns 991 shares of the specialty retailer’s stock worth $53,000 after acquiring an additional 838 shares during the period. Royal London Asset Management Ltd. lifted its holdings in Tractor Supply by 438.1% during the fourth quarter. Royal London Asset Management Ltd. now owns 374,037 shares of the specialty retailer’s stock valued at $19,846,000 after purchasing an additional 304,528 shares in the last quarter. Maryland State Retirement & Pension System boosted its position in shares of Tractor Supply by 372.0% in the fourth quarter. Maryland State Retirement & Pension System now owns 29,084 shares of the specialty retailer’s stock worth $1,543,000 after purchasing an additional 22,922 shares during the period. Finally, Xponance Inc. increased its stake in shares of Tractor Supply by 403.9% in the fourth quarter. Xponance Inc. now owns 125,891 shares of the specialty retailer’s stock worth $6,680,000 after purchasing an additional 100,907 shares in the last quarter. Institutional investors own 98.72% of the company’s stock.

Tractor Supply Price Performance

NASDAQ:TSCO opened at $54.16 on Friday. The firm has a market capitalization of $28.92 billion, a price-to-earnings ratio of 26.55, a PEG ratio of 2.95 and a beta of 0.85. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. The business has a 50 day simple moving average of $55.03 and a 200-day simple moving average of $55.65. Tractor Supply has a 1 year low of $48.30 and a 1 year high of $61.53.

Tractor Supply (NASDAQ:TSCO) last posted 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%. Equities analysts forecast that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply declared that its Board of Directors has approved a share buyback program on Thursday, February 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to repurchase up to 3.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Tractor Supply Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 6.79%. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. Tractor Supply’s dividend payout ratio is presently 45.10%.

Insider Buying and Selling

In other news, SVP Matthew L. Rubin sold 3,850 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $57.69, for a total value of $222,106.50. Following the transaction, the senior vice president now directly owns 31,787 shares in the company, valued at approximately $1,833,792.03. This represents a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 sale, the chief executive officer now owns 488,852 shares of the company’s stock, valued at $26,686,430.68. The trade was a 15.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 137,993 shares of company stock valued at $7,538,068 in the last ninety days. 0.58% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TSCO. JPMorgan Chase & Co. lifted their target price on shares of Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Loop Capital boosted their price objective on Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a research report on Thursday, December 12th. Bank of America increased their target price on Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a research report on Thursday, January 16th. Truist Financial decreased their target price on Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Finally, Guggenheim restated a “buy” rating and issued a $60.00 price target on shares of Tractor Supply in a research note on Friday, January 31st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tractor Supply presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.22.

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.