Retirement Systems of Alabama decreased its position in shares of Tractor Supply (NASDAQ:TSCO) by 1.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,172 shares of the specialty retailer’s stock after selling 1,064 shares during the period. Retirement Systems of Alabama’s holdings in Tractor Supply were worth $5,105,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSCO. Boston Partners bought a new stake in Tractor Supply during the 2nd quarter worth approximately $118,735,000. Morgan Stanley raised its stake in Tractor Supply by 211.2% during the 2nd quarter. Morgan Stanley now owns 1,244,467 shares of the specialty retailer’s stock worth $95,190,000 after acquiring an additional 844,609 shares during the period. Janus Henderson Group PLC raised its stake in Tractor Supply by 12.3% during the 2nd quarter. Janus Henderson Group PLC now owns 4,473,406 shares of the specialty retailer’s stock worth $342,171,000 after acquiring an additional 488,863 shares during the period. Los Angeles Capital Management & Equity Research Inc. raised its stake in Tractor Supply by 8,360.6% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 478,953 shares of the specialty retailer’s stock worth $36,635,000 after acquiring an additional 473,292 shares during the period. Finally, Jennison Associates LLC bought a new stake in Tractor Supply during the 2nd quarter worth approximately $26,142,000. Institutional investors own 82.02% of the company’s stock.
Shares of TSCO opened at $93.85 on Tuesday. Tractor Supply has a fifty-two week low of $58.27 and a fifty-two week high of $95.17. The firm has a market capitalization of $11.43 billion, a P/E ratio of 28.18, a price-to-earnings-growth ratio of 1.79 and a beta of 1.22. The company has a current ratio of 1.99, a quick ratio of 0.21 and a debt-to-equity ratio of 0.39.
Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, October 25th. The specialty retailer reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.08. Tractor Supply had a net margin of 6.54% and a return on equity of 36.23%. The company had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.82 billion. As a group, analysts anticipate that Tractor Supply will post 4.29 EPS for the current year.
TSCO has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Tractor Supply from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research report on Tuesday, July 17th. BidaskClub upgraded shares of Tractor Supply from a “hold” rating to a “buy” rating in a research report on Thursday, July 19th. Stephens set a $93.00 price objective on shares of Tractor Supply and gave the company a “buy” rating in a research report on Friday, July 27th. Wells Fargo & Co reiterated a “buy” rating on shares of Tractor Supply in a research report on Thursday, July 26th. Finally, ValuEngine upgraded shares of Tractor Supply from a “hold” rating to a “buy” rating in a research report on Tuesday, August 14th. Twelve investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $87.73.
In related news, CEO Gregory A. Sandfort sold 140,709 shares of the business’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $90.28, for a total value of $12,703,208.52. Following the sale, the chief executive officer now owns 118,845 shares in the company, valued at $10,729,326.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Benjamin F. Parrish, Jr. sold 25,252 shares of the business’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $89.62, for a total transaction of $2,263,084.24. Following the completion of the sale, the executive vice president now owns 28,700 shares in the company, valued at approximately $2,572,094. The disclosure for this sale can be found here. Insiders sold 204,530 shares of company stock worth $18,348,570 in the last 90 days. 1.60% of the stock is currently owned by company insiders.
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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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