Kentucky Retirement Systems Decreases Stock Holdings in Tractor Supply (NASDAQ:TSCO)

Kentucky Retirement Systems reduced its position in shares of Tractor Supply (NASDAQ:TSCO) by 5.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,210 shares of the specialty retailer’s stock after selling 440 shares during the quarter. Kentucky Retirement Systems’ holdings in Tractor Supply were worth $2,149,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Future Financial Wealth Managment LLC bought a new position in shares of Tractor Supply during the 1st quarter valued at approximately $26,000. LRI Investments LLC purchased a new stake in shares of Tractor Supply during the 1st quarter worth approximately $28,000. Rise Advisors LLC raised its holdings in shares of Tractor Supply by 157.1% during the 1st quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock worth $28,000 after acquiring an additional 66 shares in the last quarter. J.Safra Asset Management Corp raised its holdings in shares of Tractor Supply by 700.0% during the 1st quarter. J.Safra Asset Management Corp now owns 112 shares of the specialty retailer’s stock worth $29,000 after acquiring an additional 98 shares in the last quarter. Finally, Private Wealth Management Group LLC purchased a new stake in Tractor Supply during the 4th quarter valued at $27,000. 98.72% of the stock is currently owned by institutional investors.

Tractor Supply Price Performance

Shares of NASDAQ:TSCO traded up $0.56 during trading on Monday, reaching $263.08. The company had a trading volume of 180,827 shares, compared to its average volume of 1,148,180. The firm’s fifty day moving average is $273.49 and its 200 day moving average is $257.75. The firm has a market capitalization of $28.36 billion, a PE ratio of 25.56, a price-to-earnings-growth ratio of 3.43 and a beta of 0.81. Tractor Supply has a twelve month low of $185.00 and a twelve month high of $290.38. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.25 and a current ratio of 1.43.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Thursday, July 25th. The specialty retailer reported $3.93 EPS for the quarter, meeting the consensus estimate of $3.93. The business had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.28 billion. Tractor Supply had a net margin of 7.65% and a return on equity of 51.84%. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.83 EPS. On average, equities analysts forecast that Tractor Supply will post 10.29 EPS for the current year.

Tractor Supply Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 28th were paid a dividend of $1.10 per share. The ex-dividend date of this dividend was Friday, May 24th. This represents a $4.40 annualized dividend and a dividend yield of 1.67%. Tractor Supply’s dividend payout ratio (DPR) is 42.84%.

Analyst Upgrades and Downgrades

TSCO has been the topic of several research analyst reports. Benchmark reaffirmed a “buy” rating and issued a $280.00 price objective on shares of Tractor Supply in a research report on Friday. Morgan Stanley lifted their target price on Tractor Supply from $195.00 to $235.00 and gave the stock an “underweight” rating in a report on Friday, April 26th. Wedbush reissued a “neutral” rating and issued a $270.00 price objective on shares of Tractor Supply in a report on Friday. Wells Fargo & Company upped their price target on Tractor Supply from $285.00 to $295.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. Finally, Piper Sandler boosted their price objective on Tractor Supply from $265.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Two 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’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $256.58.

About Tractor Supply

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.