New Mexico Educational Retirement Board lowered its stake in Tractor Supply (NASDAQ:TSCO – Get Rating) by 4.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,300 shares of the specialty retailer's stock after selling 300 shares during the period. New Mexico Educational Retirement Board's holdings in Tractor Supply were worth $1,221,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Canada Pension Plan Investment Board lifted its position in Tractor Supply by 680.3% in the 4th quarter. Canada Pension Plan Investment Board now owns 15,107 shares of the specialty retailer's stock valued at $3,604,000 after acquiring an additional 13,171 shares in the last quarter. Cetera Investment Advisers lifted its position in Tractor Supply by 9.5% in the 4th quarter. Cetera Investment Advisers now owns 5,389 shares of the specialty retailer's stock valued at $1,286,000 after acquiring an additional 467 shares in the last quarter. CIBC World Markets Inc. lifted its position in Tractor Supply by 2.4% in the 4th quarter. CIBC World Markets Inc. now owns 11,436 shares of the specialty retailer's stock valued at $2,729,000 after acquiring an additional 266 shares in the last quarter. Chilton Capital Management LLC bought a new stake in Tractor Supply in the 4th quarter valued at $178,000. Finally, MML Investors Services LLC lifted its position in Tractor Supply by 11.4% in the 4th quarter. MML Investors Services LLC now owns 17,218 shares of the specialty retailer's stock valued at $4,108,000 after acquiring an additional 1,759 shares in the last quarter. Institutional investors and hedge funds own 82.86% of the company's stock.
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Wall Street Analyst Weigh In
TSCO has been the topic of several research reports. Piper Sandler set a $253.00 price objective on shares of Tractor Supply in a research report on Tuesday, July 19th. Bank of America raised shares of Tractor Supply from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $250.00 to $260.00 in a research report on Tuesday, June 14th. MKM Partners initiated coverage on shares of Tractor Supply in a research report on Thursday, July 28th. They set a "buy" rating and a $230.00 price target on the stock. Wells Fargo & Company cut their price target on shares of Tractor Supply to $250.00 in a research report on Friday, July 22nd. Finally, The Goldman Sachs Group cut their price target on shares of Tractor Supply from $260.00 to $207.00 and set a "buy" rating on the stock in a research report on Monday, June 27th. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $240.79.
Tractor Supply Stock Up 4.4 %
Shares of TSCO opened at $194.12 on Tuesday. The firm's 50-day simple moving average is $192.69 and its 200 day simple moving average is $201.24. Tractor Supply has a 52 week low of $166.49 and a 52 week high of $241.54. The firm has a market cap of $21.55 billion, a P/E ratio of 21.43, a price-to-earnings-growth ratio of 1.90 and a beta of 0.86. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.33 and a current ratio of 1.44.
Tractor Supply (NASDAQ:TSCO – Get Rating) last announced its earnings results on Thursday, July 21st. The specialty retailer reported $3.53 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $3.53. Tractor Supply had a net margin of 7.76% and a return on equity of 53.29%. The firm had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same quarter in the prior year, the business posted $3.19 EPS. The business's revenue was up 8.4% compared to the same quarter last year. On average, analysts forecast that Tractor Supply will post 9.58 earnings per share for the current year.
Tractor Supply Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 7th. Shareholders of record on Monday, August 22nd were given a dividend of $0.92 per share. The ex-dividend date was Friday, August 19th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.90%. Tractor Supply's payout ratio is presently 40.62%.
About Tractor Supply
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Tractor Supply Company operates as a rural lifestyle retailer in the United States. The company offers a selection of merchandise, including equine, livestock, pet, and small animal products necessary for their health, care, growth, and containment; hardware, truck, towing, and tool products; seasonal products, such as heating products, lawn and garden items, power equipment, gifts, and toys; work/recreational clothing and footwear; and maintenance products for agricultural and rural use.
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