State of Tennessee Treasury Department increased its stake in Tractor Supply (NASDAQ:TSCO) by 353.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 127,834 shares of the specialty retailer’s stock after purchasing an additional 99,630 shares during the period. State of Tennessee Treasury Department owned approximately 0.11% of Tractor Supply worth $10,808,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in TSCO. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Tractor Supply by 25,080.8% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,475,201 shares of the specialty retailer’s stock worth $293,828,000 after acquiring an additional 3,461,400 shares during the period. Waddell & Reed Financial Inc. lifted its position in shares of Tractor Supply by 100.4% during the 1st quarter. Waddell & Reed Financial Inc. now owns 3,493,123 shares of the specialty retailer’s stock valued at $295,344,000 after buying an additional 1,750,004 shares during the last quarter. Norges Bank purchased a new position in shares of Tractor Supply during the 4th quarter valued at $113,249,000. Amundi Pioneer Asset Management Inc. raised its stake in shares of Tractor Supply by 42.7% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 2,080,514 shares of the specialty retailer’s stock valued at $194,405,000 after purchasing an additional 622,515 shares during the period. Finally, Veritas Investment Management LLP bought a new stake in shares of Tractor Supply during the 1st quarter valued at $46,581,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have weighed in on TSCO. Stephens upped their target price on Tractor Supply from $110.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 27th. Loop Capital increased their price objective on Tractor Supply from $100.00 to $120.00 and gave the company a “hold” rating in a research report on Wednesday, May 27th. JPMorgan Chase & Co. increased their price objective on Tractor Supply from $101.00 to $108.00 and gave the company a “neutral” rating in a research report on Wednesday, May 27th. Bank of America increased their target price on Tractor Supply from $134.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Telsey Advisory Group increased their target price on Tractor Supply from $110.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Fourteen research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Tractor Supply presently has an average rating of “Buy” and a consensus price target of $118.88.

Tractor Supply stock traded down $0.77 during mid-day trading on Friday, reaching $130.05. 23,227 shares of the company were exchanged, compared to its average volume of 1,498,174. The business has a fifty day moving average of $117.27 and a 200 day moving average of $97.95. The company has a debt-to-equity ratio of 2.27, a quick ratio of 0.38 and a current ratio of 1.66. The firm has a market cap of $15.13 billion, a P/E ratio of 27.60, a PEG ratio of 1.96 and a beta of 1.01. Tractor Supply has a 12-month low of $63.89 and a 12-month high of $131.89.

Tractor Supply (NASDAQ:TSCO) last posted its earnings results on Thursday, April 23rd. The specialty retailer reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.01. The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.96 billion. Tractor Supply had a return on equity of 38.38% and a net margin of 6.71%. Tractor Supply’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.63 earnings per share. Sell-side analysts predict that Tractor Supply will post 5.57 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 26th were issued a dividend of $0.35 per share. The ex-dividend date was Friday, May 22nd. This represents a $1.40 dividend on an annualized basis and a yield of 1.08%. Tractor Supply’s dividend payout ratio is currently 29.91%.

In other news, SVP Christi C. Korzekwa sold 896 shares of the company’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $105.00, for a total transaction of $94,080.00. Following the transaction, the senior vice president now directly owns 11,287 shares of the company’s stock, valued at $1,185,135. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Robert D. Mills sold 14,706 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $120.29, for a total value of $1,768,984.74. Following the transaction, the executive vice president now directly owns 29,171 shares in the company, valued at $3,508,979.59. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 280,138 shares of company stock valued at $29,705,277. 1.50% of the stock is owned by company insiders.

Tractor Supply Profile

Tractor Supply Company operates rural lifestyle retail stores 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.

Further Reading: FinTech

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Institutional Ownership by Quarter for Tractor Supply (NASDAQ:TSCO)

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