Tractor Supply (NASDAQ:TSCO) Shares Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System increased its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 372.0% during the fourth quarter, HoldingsChannel reports. The fund owned 29,084 shares of the specialty retailer’s stock after buying an additional 22,922 shares during the period. Maryland State Retirement & Pension System’s holdings in Tractor Supply were worth $1,543,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Xponance Inc. grew its holdings in Tractor Supply by 403.9% during the fourth quarter. Xponance Inc. now owns 125,891 shares of the specialty retailer’s stock worth $6,680,000 after acquiring an additional 100,907 shares during the period. Generali Asset Management SPA SGR acquired a new position in Tractor Supply during the fourth quarter worth $2,160,000. Horizon Investments LLC grew its holdings in Tractor Supply by 423.2% during the fourth quarter. Horizon Investments LLC now owns 9,418 shares of the specialty retailer’s stock worth $500,000 after acquiring an additional 7,618 shares during the period. Advisors Asset Management Inc. grew its holdings in Tractor Supply by 381.6% during the fourth quarter. Advisors Asset Management Inc. now owns 195,225 shares of the specialty retailer’s stock worth $10,359,000 after acquiring an additional 154,688 shares during the period. Finally, Long Road Investment Counsel LLC grew its holdings in Tractor Supply by 400.0% during the fourth quarter. Long Road Investment Counsel LLC now owns 12,000 shares of the specialty retailer’s stock worth $637,000 after acquiring an additional 9,600 shares during the period. Institutional investors and hedge funds own 98.72% of the company’s stock.

Tractor Supply Stock Performance

Tractor Supply stock opened at $52.46 on Friday. The firm has a market capitalization of $28.01 billion, a P/E ratio of 25.72, a PEG ratio of 2.95 and a beta of 0.85. The stock has a fifty day moving average price of $55.03 and a 200 day moving average price of $55.67. Tractor Supply has a 52 week low of $48.30 and a 52 week high of $61.53. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82.

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

Tractor Supply announced that its Board of Directors has approved a stock buyback program on Thursday, February 13th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the specialty retailer to repurchase up to 3.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Tractor Supply Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were paid a dividend of $0.92 per share. The ex-dividend date was Wednesday, February 26th. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a yield of 7.01%. Tractor Supply’s dividend payout ratio is currently 45.10%.

Insiders Place Their Bets

In other Tractor Supply news, EVP Colin Yankee sold 24,602 shares of the company’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $54.15, for a total transaction of $1,332,198.30. Following the completion of the sale, the executive vice president now directly owns 33,645 shares in the company, valued at $1,821,876.75. This represents a 42.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Melissa Kersey sold 9,300 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $53.17, for a total value of $494,481.00. Following the sale, the executive vice president now owns 34,961 shares of the company’s stock, valued at $1,858,876.37. This represents a 21.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,993 shares of company stock worth $7,538,068 over the last three months. 0.24% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on TSCO shares. JPMorgan Chase & Co. boosted their target price on Tractor Supply from $58.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Loop Capital boosted their target price on Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a research report on Thursday, December 12th. Wells Fargo & Company decreased their target price on Tractor Supply from $65.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Telsey Advisory Group reiterated an “outperform” rating and set a $67.00 target price on shares of Tractor Supply in a research report on Thursday, January 30th. Finally, Guggenheim reiterated a “buy” rating and set a $60.00 target price on shares of Tractor Supply in a research report on Friday, January 31st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $59.22.

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.