California Public Employees Retirement System Has $36.18 Million Stake in Tractor Supply Company $TSCO

California Public Employees Retirement System trimmed its holdings in shares of Tractor Supply Company (NASDAQ:TSCO) by 24.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 798,642 shares of the specialty retailer’s stock after selling 253,706 shares during the quarter. California Public Employees Retirement System’s holdings in Tractor Supply were worth $36,178,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of TSCO. Norges Bank bought a new stake in shares of Tractor Supply during the 4th quarter valued at $303,862,000. Select Equity Group L.P. grew its stake in shares of Tractor Supply by 41.9% during the second quarter. Select Equity Group L.P. now owns 12,713,409 shares of the specialty retailer’s stock worth $670,887,000 after purchasing an additional 3,753,414 shares during the period. Invesco Ltd. grew its stake in shares of Tractor Supply by 18.4% during the fourth quarter. Invesco Ltd. now owns 17,433,611 shares of the specialty retailer’s stock worth $871,855,000 after purchasing an additional 2,706,819 shares during the period. Franklin Resources Inc. increased its holdings in Tractor Supply by 37.1% in the fourth quarter. Franklin Resources Inc. now owns 7,705,579 shares of the specialty retailer’s stock valued at $385,356,000 after purchasing an additional 2,086,472 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Tractor Supply by 46.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,046,977 shares of the specialty retailer’s stock valued at $252,400,000 after purchasing an additional 1,595,803 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TSCO. Stephens cut their target price on Tractor Supply from $53.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 22nd. Wolfe Research set a $34.00 price target on Tractor Supply in a research note on Thursday, July 16th. Piper Sandler set a $32.00 price target on shares of Tractor Supply and gave the company a “neutral” rating in a research report on Tuesday, June 16th. Jefferies Financial Group reissued a “buy” rating and set a $51.00 price objective on shares of Tractor Supply in a research note on Tuesday, April 21st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Tractor Supply from $55.00 to $48.00 and set a “neutral” rating for the company in a report on Wednesday, April 22nd. Thirteen research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $40.88.

Tractor Supply Stock Performance

Shares of TSCO stock opened at $29.64 on Wednesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.16 and a current ratio of 1.38. Tractor Supply Company has a 52 week low of $28.36 and a 52 week high of $63.99. The company’s 50 day moving average price is $30.64 and its two-hundred day moving average price is $41.60. The company has a market capitalization of $15.54 billion, a P/E ratio of 14.53, a price-to-earnings-growth ratio of 6.57 and a beta of 0.46.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Tuesday, April 21st. The specialty retailer reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.04). Tractor Supply had a net margin of 6.91% and a return on equity of 42.58%. The company had revenue of $3.59 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same quarter last year, the company earned $0.34 EPS. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, analysts expect that Tractor Supply Company will post 2.08 earnings per share for the current fiscal year.

Tractor Supply Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were paid a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.96 dividend on an annualized basis and a yield of 3.2%. Tractor Supply’s dividend payout ratio is presently 47.06%.

About Tractor Supply

Tractor Supply Company (NASDAQ: TSCO) is a specialty retailer focused on products for the home, farm, ranch and outdoors. The company operates a network of physical retail locations complemented by an e-commerce platform, offering a one-stop source of supplies and equipment for customers with rural and suburban lifestyles. Its merchandise assortment targets a range of needs, from animal and livestock care to maintenance, outdoor power equipment, and seasonal products.

Product categories include animal feed and supplies, pet products, fencing and fencing supplies, equine equipment, lawn and garden tools, work clothing and footwear, and small agricultural and outdoor power equipment.