State of Alaska Department of Revenue Reduces Stock Position in Tractor Supply (NASDAQ:TSCO)

State of Alaska Department of Revenue lowered its stake in shares of Tractor Supply (NASDAQ:TSCO) by 16.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,349 shares of the specialty retailer’s stock after selling 6,225 shares during the period. State of Alaska Department of Revenue’s holdings in Tractor Supply were worth $8,204,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TSCO. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Tractor Supply in the third quarter worth $407,000. AQR Capital Management LLC increased its holdings in shares of Tractor Supply by 14.8% in the third quarter. AQR Capital Management LLC now owns 25,162 shares of the specialty retailer’s stock worth $5,109,000 after purchasing an additional 3,251 shares during the period. Seven Eight Capital LP increased its holdings in shares of Tractor Supply by 63.4% in the third quarter. Seven Eight Capital LP now owns 15,774 shares of the specialty retailer’s stock worth $3,203,000 after purchasing an additional 6,122 shares during the period. Scotia Capital Inc. increased its holdings in shares of Tractor Supply by 2.5% in the third quarter. Scotia Capital Inc. now owns 2,177 shares of the specialty retailer’s stock worth $442,000 after purchasing an additional 54 shares during the period. Finally, Royal London Asset Management Ltd. increased its holdings in shares of Tractor Supply by 13.4% in the third quarter. Royal London Asset Management Ltd. now owns 67,737 shares of the specialty retailer’s stock worth $13,757,000 after purchasing an additional 8,002 shares during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on TSCO shares. Piper Sandler upped their price target on shares of Tractor Supply from $265.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. JPMorgan Chase & Co. increased their target price on Tractor Supply from $241.00 to $263.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. TD Cowen increased their target price on Tractor Supply from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Barclays increased their target price on Tractor Supply from $234.00 to $240.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Finally, Benchmark reissued a “buy” rating and issued a $256.00 target price on shares of Tractor Supply in a research note on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $253.96.

Tractor Supply Trading Down 1.6 %

NASDAQ:TSCO traded down $4.38 during mid-day trading on Wednesday, hitting $261.65. 766,338 shares of the stock traded hands, compared to its average volume of 1,156,668. The stock has a market capitalization of $28.21 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 3.51 and a beta of 0.81. Tractor Supply has a 52 week low of $185.00 and a 52 week high of $290.38. The firm’s 50 day moving average is $275.40 and its two-hundred day moving average is $251.29. The company has a quick ratio of 0.19, a current ratio of 1.40 and a debt-to-equity ratio of 0.83.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 EPS for the quarter, beating the consensus estimate of $1.70 by $0.13. The company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.40 billion. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The firm’s revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.65 EPS. On average, equities research analysts predict that Tractor Supply will post 10.34 earnings per share for the current year.

Tractor Supply Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 28th were given a $1.10 dividend. The ex-dividend date of this dividend was Friday, May 24th. This represents a $4.40 annualized dividend and a yield of 1.68%. Tractor Supply’s dividend payout ratio (DPR) is 42.84%.

Tractor Supply Company Profile

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.