California State Teachers Retirement System Cuts Stake in Tractor Supply (TSCO)
California State Teachers Retirement System cut its position in Tractor Supply (NASDAQ:TSCO) by 3.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 211,857 shares of the specialty retailer’s stock after selling 6,810 shares during the period. California State Teachers Retirement System owned approximately 0.17% of Tractor Supply worth $15,836,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Tractor Supply by 0.9% in the fourth quarter. BlackRock Inc. now owns 8,125,064 shares of the specialty retailer’s stock valued at $607,347,000 after purchasing an additional 68,965 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Tractor Supply by 138.6% in the third quarter. Janus Henderson Group PLC now owns 5,096,520 shares of the specialty retailer’s stock valued at $322,558,000 after purchasing an additional 2,960,119 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Tractor Supply in the fourth quarter valued at about $139,359,000. Wells Fargo & Company MN increased its holdings in shares of Tractor Supply by 10.8% in the third quarter. Wells Fargo & Company MN now owns 1,715,032 shares of the specialty retailer’s stock valued at $108,545,000 after purchasing an additional 167,097 shares during the period. Finally, Two Sigma Advisers LP increased its holdings in shares of Tractor Supply by 1.6% in the fourth quarter. Two Sigma Advisers LP now owns 1,648,477 shares of the specialty retailer’s stock valued at $123,224,000 after purchasing an additional 25,613 shares during the period. 83.25% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently weighed in on TSCO. BidaskClub raised Tractor Supply from a “sell” rating to a “hold” rating in a report on Saturday, March 17th. Zacks Investment Research lowered Tractor Supply from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Moffett Nathanson raised Tractor Supply from a “neutral” rating to a “buy” rating in a report on Monday, March 5th. Sanford C. Bernstein reissued a “buy” rating on shares of Tractor Supply in a report on Tuesday, February 27th. Finally, TheStreet lowered Tractor Supply from a “b” rating to a “c+” rating in a report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, eighteen have given a hold rating and seven have issued a buy rating to the stock. Tractor Supply currently has a consensus rating of “Hold” and a consensus price target of $73.10.
Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Wednesday, January 31st. The specialty retailer reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.93 billion. Tractor Supply had a return on equity of 30.81% and a net margin of 5.82%. Tractor Supply’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.94 earnings per share. equities analysts forecast that Tractor Supply will post 4.1 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 13th. Shareholders of record on Monday, February 26th were given a dividend of $0.27 per share. The ex-dividend date was Friday, February 23rd. This represents a $1.08 dividend on an annualized basis and a yield of 1.75%. Tractor Supply’s dividend payout ratio is currently 32.73%.
In other Tractor Supply news, Director Edna Morris sold 1,054 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $67.07, for a total transaction of $70,691.78. Following the transaction, the director now owns 10,949 shares in the company, valued at $734,349.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.20% of the company’s stock.
About Tractor Supply
Tractor Supply Company is an operator of rural lifestyle retail stores in the United States. The Company is focused on supplying the needs of recreational farmers and ranchers and others, as well as tradesmen and small businesses. It is engaged in the retail sale of products that support the rural lifestyle.
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