State Board of Administration of Florida Retirement System cut its stake in shares of Tractor Supply (NASDAQ:TSCO) by 1.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 186,255 shares of the specialty retailer’s stock after selling 2,146 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.15% of Tractor Supply worth $16,927,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Piedmont Investment Advisors LLC acquired a new stake in Tractor Supply in the 2nd quarter valued at about $106,000. Qube Research & Technologies Ltd acquired a new stake in Tractor Supply in the 2nd quarter valued at about $130,000. Steward Partners Investment Advisory LLC grew its stake in Tractor Supply by 118.9% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,751 shares of the specialty retailer’s stock valued at $134,000 after acquiring an additional 951 shares during the last quarter. NumerixS Investment Technologies Inc grew its stake in Tractor Supply by 58.3% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 1,900 shares of the specialty retailer’s stock valued at $148,000 after acquiring an additional 700 shares during the last quarter. Finally, Private Capital Group LLC grew its stake in Tractor Supply by 66.1% in the 3rd quarter. Private Capital Group LLC now owns 1,648 shares of the specialty retailer’s stock valued at $149,000 after acquiring an additional 656 shares during the last quarter. 82.02% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently commented on the stock. BidaskClub cut shares of Tractor Supply from a “buy” rating to a “hold” rating in a research note on Friday, November 2nd. Telsey Advisory Group reissued an “outperform” rating and issued a $92.00 price objective (up from $85.00) on shares of Tractor Supply in a research note on Saturday, October 27th. Credit Suisse Group set a $85.00 price objective on shares of Tractor Supply and gave the company a “hold” rating in a research note on Friday, October 26th. Wells Fargo & Co increased their price objective on shares of Tractor Supply from $98.00 to $102.00 and gave the company an “outperform” rating in a research note on Friday, October 26th. Finally, Robert W. Baird increased their price objective on shares of Tractor Supply from $97.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 26th. Twelve equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $87.73.
In other news, CEO Gregory A. Sandfort sold 140,709 shares of the stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $90.28, for a total transaction of $12,703,208.52. Following the transaction, the chief executive officer now directly owns 118,845 shares in the company, valued at approximately $10,729,326.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Kurt D. Barton sold 6,156 shares of the stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $84.50, for a total transaction of $520,182.00. Following the transaction, the chief financial officer now owns 32,327 shares in the company, valued at $2,731,631.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 224,348 shares of company stock worth $20,263,980. Insiders own 1.60% of the company’s stock.
NASDAQ:TSCO opened at $97.13 on Friday. The stock has a market capitalization of $11.66 billion, a price-to-earnings ratio of 23.24, a PEG ratio of 1.83 and a beta of 1.22. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.21 and a current ratio of 1.99. Tractor Supply has a 12-month low of $58.27 and a 12-month high of $97.65.
Tractor Supply (NASDAQ:TSCO) last released its earnings results on Thursday, October 25th. The specialty retailer reported $0.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.08. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.82 billion. Tractor Supply had a net margin of 6.54% and a return on equity of 36.23%. Analysts forecast that Tractor Supply will post 4.29 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 11th. Stockholders of record on Monday, November 26th will be issued a dividend of $0.31 per share. The ex-dividend date is Friday, November 23rd. This represents a $1.24 annualized dividend and a dividend yield of 1.28%. Tractor Supply’s payout ratio is currently 37.24%.
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About Tractor Supply
Tractor Supply Company operates rural lifestyle retail stores in the United States. The company offers a selection of merchandise, including equine, livestock, pet, and small animal products necessary for their health, care, growth, and containment; hardware, truck, towing, and tool products; seasonal products, such as heating products, lawn and garden items, power equipment, gifts, and toys; work/recreational clothing and footwear; and maintenance products for agricultural and rural use.
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