Commonwealth of Pennsylvania Public School Empls Retrmt SYS Purchases 90,104 Shares of Tractor Supply (NASDAQ:TSCO)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 383.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 113,586 shares of the specialty retailer's stock after purchasing an additional 90,104 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in Tractor Supply were worth $6,027,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in TSCO. Baldwin Investment Management LLC lifted its position in shares of Tractor Supply by 0.3% during the 3rd quarter. Baldwin Investment Management LLC now owns 11,402 shares of the specialty retailer's stock valued at $3,317,000 after acquiring an additional 38 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in Tractor Supply by 13.2% during the third quarter. First Horizon Advisors Inc. now owns 351 shares of the specialty retailer's stock valued at $102,000 after purchasing an additional 41 shares during the last quarter. Cynosure Group LLC increased its stake in shares of Tractor Supply by 2.8% in the third quarter. Cynosure Group LLC now owns 1,529 shares of the specialty retailer's stock worth $445,000 after purchasing an additional 42 shares during the period. Larson Financial Group LLC boosted its holdings in Tractor Supply by 29.4% in the 3rd quarter. Larson Financial Group LLC now owns 286 shares of the specialty retailer's stock valued at $83,000 after purchasing an additional 65 shares during the period. Finally, Pine Valley Investments Ltd Liability Co raised its holdings in Tractor Supply by 7.1% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 978 shares of the specialty retailer's stock valued at $285,000 after acquiring an additional 65 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company's stock.

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Wall Street Analyst Weigh In

A number of research firms have commented on TSCO. Truist Financial reduced their price target on shares of Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Telsey Advisory Group reissued an "outperform" rating and set a $67.00 price objective on shares of Tractor Supply in a research note on Thursday, January 30th. JPMorgan Chase & Co. raised their price target on Tractor Supply from $58.00 to $59.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Loop Capital raised their target price on shares of Tractor Supply from $53.00 to $58.00 and gave the stock a "hold" rating in a report on Thursday, December 12th. Finally, Guggenheim reissued a "buy" rating and set a $60.00 price objective on shares of Tractor Supply in a research report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $59.22.

Tractor Supply Price Performance

NASDAQ TSCO traded up $0.29 on Thursday, hitting $54.16. 4,651,444 shares of the company's stock were exchanged, compared to its average volume of 4,892,093. The stock has a 50-day moving average of $55.02 and a 200-day moving average of $55.66. The stock has a market cap of $28.92 billion, a price-to-earnings ratio of 26.55, a P/E/G ratio of 2.95 and a beta of 0.85. Tractor Supply has a 52 week low of $48.30 and a 52 week high of $61.53. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share 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 expect that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply Increases Dividend

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

Tractor Supply announced that its board has approved a share repurchase plan on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the specialty retailer to buy up to 3.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its stock is undervalued.

Insider Activity

In other news, SVP Matthew L. Rubin sold 3,850 shares of the firm's stock in a transaction 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 completion of the transaction, the senior vice president now owns 31,787 shares of the company's stock, valued at approximately $1,833,792.03. This trade represents a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $54.59, for a total transaction of $4,809,106.05. Following the transaction, the chief executive officer now owns 488,852 shares in the company, valued at approximately $26,686,430.68. This trade represents a 15.27 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 137,993 shares of company stock worth $7,538,068. Insiders own 0.58% of the company's stock.

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.