Arizona State Retirement System Raises Position in Tractor Supply Co. (TSCO)
Arizona State Retirement System boosted its position in shares of Tractor Supply Co. (NASDAQ:TSCO) by 0.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,900 shares of the company’s stock after buying an additional 200 shares during the period. Arizona State Retirement System’s holdings in Tractor Supply were worth $2,216,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in TSCO. Argent Trust Co increased its stake in shares of Tractor Supply by 0.5% in the second quarter. Argent Trust Co now owns 3,991 shares of the company’s stock worth $364,000 after buying an additional 19 shares during the period. Conning Inc. increased its stake in shares of Tractor Supply by 1.0% in the third quarter. Conning Inc. now owns 2,990 shares of the company’s stock worth $201,000 after buying an additional 30 shares during the period. FDx Advisors Inc. increased its stake in shares of Tractor Supply by 2.4% in the second quarter. FDx Advisors Inc. now owns 2,816 shares of the company’s stock worth $257,000 after buying an additional 65 shares during the period. Optimum Investment Advisors increased its stake in shares of Tractor Supply by 1.4% in the second quarter. Optimum Investment Advisors now owns 5,850 shares of the company’s stock worth $533,000 after buying an additional 80 shares during the period. Finally, Glenmede Trust Co. NA increased its stake in shares of Tractor Supply by 2.8% in the second quarter. Glenmede Trust Co. NA now owns 3,162 shares of the company’s stock worth $287,000 after buying an additional 85 shares during the period. Institutional investors own 90.57% of the company’s stock.
Shares of Tractor Supply Co. (NASDAQ:TSCO) traded up 0.42% during midday trading on Monday, reaching $74.92. The company’s stock had a trading volume of 1,254,001 shares. The company’s 50-day moving average price is $68.00 and its 200 day moving average price is $81.34. Tractor Supply Co. has a 1-year low of $61.50 and a 1-year high of $97.25. The firm has a market capitalization of $9.83 billion, a PE ratio of 23.78 and a beta of 1.23.
Tractor Supply (NASDAQ:TSCO) last posted its earnings results on Wednesday, October 19th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. Tractor Supply had a return on equity of 29.78% and a net margin of 6.53%. The business earned $1.54 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter last year, the firm earned $0.64 earnings per share. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, equities research analysts forecast that Tractor Supply Co. will post $3.24 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 29th. Stockholders of record on Monday, November 14th will be paid a $0.24 dividend. The ex-dividend date is Wednesday, November 9th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.29%. Tractor Supply’s dividend payout ratio (DPR) is currently 30.48%.
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A number of analysts have issued reports on TSCO shares. Nomura reaffirmed a “buy” rating and issued a $105.00 target price on shares of Tractor Supply in a research note on Thursday, September 8th. SunTrust Banks Inc. cut their price objective on Tractor Supply from $102.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, September 8th. Deutsche Bank AG cut their price objective on Tractor Supply from $76.00 to $72.00 and set a “buy” rating for the company in a research report on Friday, September 30th. Guggenheim reissued a “buy” rating and set a $90.00 price objective on shares of Tractor Supply in a research report on Friday, September 30th. Finally, Morgan Stanley reissued a “hold” rating and set a $95.00 price objective on shares of Tractor Supply in a research report on Tuesday, September 6th. Fourteen analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Tractor Supply presently has a consensus rating of “Hold” and an average target price of $85.95.
In related news, Director Mark J. Weikel bought 1,000 shares of the stock in a transaction dated Thursday, November 3rd. The stock was acquired at an average price of $66.14 per share, for a total transaction of $66,140.00. Following the completion of the purchase, the director now owns 5,627 shares in the company, valued at $372,169.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.00% of the stock is owned by insiders.
About Tractor Supply
Tractor Supply Company is an operator of rural lifestyle retail stores in the United States. The Company operates in the retail sale of products that support the rural lifestyle segment. The Company focuses on supplying the lifestyle needs of recreational farmers and ranchers, as well as tradesmen and small businesses.
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