Arizona State Retirement System Has $8.31 Million Holdings in Tractor Supply (NASDAQ:TSCO)

Arizona State Retirement System raised its stake in shares of Tractor Supply (NASDAQ:TSCO) by 406.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 156,529 shares of the specialty retailer’s stock after purchasing an additional 125,641 shares during the period. Arizona State Retirement System’s holdings in Tractor Supply were worth $8,305,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Aigen Investment Management LP boosted its position in shares of Tractor Supply by 199.7% during the fourth quarter. Aigen Investment Management LP now owns 35,625 shares of the specialty retailer’s stock valued at $1,890,000 after buying an additional 23,739 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in Tractor Supply by 956.9% during the 4th quarter. Proficio Capital Partners LLC now owns 9,269 shares of the specialty retailer’s stock worth $492,000 after acquiring an additional 8,392 shares during the last quarter. SPC Financial Inc. grew its stake in shares of Tractor Supply by 406.5% in the 4th quarter. SPC Financial Inc. now owns 31,805 shares of the specialty retailer’s stock worth $1,688,000 after acquiring an additional 25,526 shares in the last quarter. M&T Bank Corp grew its stake in shares of Tractor Supply by 377.5% in the 4th quarter. M&T Bank Corp now owns 64,434 shares of the specialty retailer’s stock worth $3,419,000 after acquiring an additional 50,939 shares in the last quarter. Finally, BCM Advisors LLC raised its holdings in shares of Tractor Supply by 400.0% in the fourth quarter. BCM Advisors LLC now owns 28,805 shares of the specialty retailer’s stock valued at $1,544,000 after purchasing an additional 23,044 shares during the last quarter. 98.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TSCO has been the subject of a number of recent analyst reports. Loop Capital upped their price objective on shares of Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a research report on Thursday, December 12th. JPMorgan Chase & Co. increased their price target on Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Bank of America boosted their price objective on Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a research report on Thursday, January 16th. Guggenheim reaffirmed a “buy” rating and set a $60.00 target price on shares of Tractor Supply in a research report on Friday, January 31st. Finally, Mizuho boosted their price target on shares of Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Tractor Supply presently has an average rating of “Moderate Buy” and a consensus price target of $59.22.

Insider Buying and Selling

In related news, EVP Melissa Kersey sold 9,300 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $53.17, for a total transaction of $494,481.00. Following the transaction, the executive vice president now directly owns 34,961 shares in the company, valued at $1,858,876.37. This trade represents a 21.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Matthew L. Rubin sold 3,850 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total value of $222,106.50. Following the sale, the senior vice president now directly 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 position. The disclosure for this sale can be found here. Insiders sold 137,993 shares of company stock worth $7,538,068 in the last quarter. 0.24% of the stock is owned by insiders.

Tractor Supply Price Performance

Shares of NASDAQ:TSCO opened at $56.89 on Friday. The company’s fifty day moving average price is $55.06 and its 200-day moving average price is $55.70. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. The firm has a market capitalization of $30.38 billion, a price-to-earnings ratio of 27.89, a PEG ratio of 2.95 and a beta of 0.85. Tractor Supply has a one year low of $48.30 and a one year high of $61.53.

Tractor Supply (NASDAQ:TSCO) last released its earnings results on Thursday, January 30th. The specialty retailer reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $2.28 by ($1.84). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. On average, equities research analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th will be issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 6.47%. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Wednesday, February 26th. Tractor Supply’s dividend payout ratio (DPR) is currently 45.10%.

Tractor Supply announced that its Board of Directors has authorized a share buyback program on Thursday, February 13th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the specialty retailer to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Tractor Supply 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.