New York State Teachers Retirement System Lowers Holdings in Tractor Supply (NASDAQ:TSCO)

Posted by Defense World Staff on Apr 12th, 2023

New York State Teachers Retirement System trimmed its position in shares of Tractor Supply (NASDAQ:TSCO – Get Rating) by 1.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 125,761 shares of the specialty retailer’s stock after selling 1,405 shares during the quarter. New York State Teachers Retirement System owned about 0.11% of Tractor Supply worth $28,292,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of TSCO. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Tractor Supply by 49.0% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,467 shares of the specialty retailer’s stock valued at $644,000 after purchasing an additional 1,140 shares in the last quarter. State of New Jersey Common Pension Fund D grew its position in Tractor Supply by 1.2% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 65,905 shares of the specialty retailer’s stock worth $12,250,000 after purchasing an additional 807 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in Tractor Supply by 13.8% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,806 shares of the specialty retailer’s stock valued at $336,000 after buying an additional 219 shares during the last quarter. Independent Wealth Network Inc. bought a new position in shares of Tractor Supply during the 4th quarter valued at $213,000. Finally, West Oak Capital LLC lifted its holdings in shares of Tractor Supply by 28.1% during the 3rd quarter. West Oak Capital LLC now owns 3,536 shares of the specialty retailer’s stock valued at $657,000 after buying an additional 775 shares during the period. 84.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on TSCO. StockNews.com started coverage on Tractor Supply in a report on Thursday, March 16th. They issued a “hold” rating for the company. Roth Capital reiterated a “buy” rating on shares of Tractor Supply in a research note on Wednesday, February 1st. Credit Suisse Group started coverage on shares of Tractor Supply in a research report on Monday, December 19th. They set an “outperform” rating and a $260.00 target price for the company. JPMorgan Chase & Co. increased their price target on shares of Tractor Supply from $219.00 to $225.00 and gave the stock a “neutral” rating in a research report on Friday, January 27th. Finally, Barclays initiated coverage on shares of Tractor Supply in a research report on Tuesday, February 7th. They set an “overweight” rating and a $254.00 price objective for the company. Eight research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Tractor Supply currently has a consensus rating of “Moderate Buy” and an average target price of $246.10.

Insiders Place Their Bets

In other news, CEO Harry A. Lawton III sold 20,067 shares of the company’s stock in a transaction dated Thursday, February 9th. The shares were sold at an average price of $231.21, for a total transaction of $4,639,691.07. Following the sale, the chief executive officer now directly owns 84,734 shares in the company, valued at approximately $19,591,348.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Harry A. Lawton III sold 20,067 shares of Tractor Supply stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $231.21, for a total value of $4,639,691.07. Following the completion of the transaction, the chief executive officer now owns 84,734 shares in the company, valued at $19,591,348.14. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Melissa Kersey sold 1,700 shares of the business’s stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $237.57, for a total value of $403,869.00. Following the sale, the executive vice president now directly owns 8,051 shares in the company, valued at $1,912,676.07. The disclosure for this sale can be found here. Insiders sold 38,091 shares of company stock valued at $8,840,560 in the last three months. Corporate insiders own 0.24% of the company’s stock.

Tractor Supply Trading Up 0.6 %

Shares of TSCO stock opened at $240.00 on Wednesday. The company has a current ratio of 1.33, a quick ratio of 0.19 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $26.37 billion, a price-to-earnings ratio of 24.72, a price-to-earnings-growth ratio of 2.35 and a beta of 0.82. Tractor Supply has a 12-month low of $166.49 and a 12-month high of $242.27. The stock’s 50-day moving average price is $232.65 and its 200-day moving average price is $219.93.

Tractor Supply (NASDAQ:TSCO – Get Rating) last released its quarterly earnings data on Thursday, January 26th. The specialty retailer reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.35 by $0.08. The business had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $3.88 billion. Tractor Supply had a return on equity of 56.65% and a net margin of 7.66%. The company’s revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.93 EPS. Equities research analysts predict that Tractor Supply will post 10.46 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 14th. Shareholders of record on Monday, February 27th were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, February 24th. This represents a $4.12 annualized dividend and a yield of 1.72%. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.92. Tractor Supply’s dividend payout ratio (DPR) is 42.43%.

About Tractor Supply

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Tractor Supply Co engages in the retail sale of farm and ranch products. It operates retail farm & ranch stores and focuses on supplying the lifestyle needs of recreational farmers and ranchers, as well as tradesmen and small businesses. The firm operates the retail stores under the names: Tractor Supply Company, Orscheln Farm & Home, and Petsense.