State Board of Administration of Florida Retirement System Cuts Stake in Tractor Supply Company $TSCO

State Board of Administration of Florida Retirement System cut its holdings in Tractor Supply Company (NASDAQ:TSCO) by 0.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 508,941 shares of the specialty retailer’s stock after selling 2,854 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.10% of Tractor Supply worth $26,857,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new stake in Tractor Supply during the 2nd quarter valued at $35,000. Financial Gravity Companies Inc. bought a new position in shares of Tractor Supply during the second quarter valued at about $38,000. Zions Bancorporation National Association UT purchased a new stake in shares of Tractor Supply during the first quarter worth about $41,000. Evelyn Partners Asset Management Ltd bought a new stake in shares of Tractor Supply in the second quarter worth about $46,000. Finally, Whittier Trust Co. increased its holdings in Tractor Supply by 79.8% during the 2nd quarter. Whittier Trust Co. now owns 899 shares of the specialty retailer’s stock valued at $47,000 after purchasing an additional 399 shares during the period. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TSCO. Evercore ISI upgraded shares of Tractor Supply from a “hold” rating to an “outperform” rating and lifted their price target for the company from $60.00 to $65.00 in a report on Wednesday, November 5th. Morgan Stanley raised shares of Tractor Supply from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $50.00 to $60.00 in a research note on Friday, October 24th. Robert W. Baird boosted their price target on shares of Tractor Supply from $65.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, October 24th. DA Davidson set a $70.00 price objective on shares of Tractor Supply in a report on Friday, October 24th. Finally, Jefferies Financial Group raised Tractor Supply from a “hold” rating to a “buy” rating in a research report on Monday, November 24th. Sixteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $63.95.

Tractor Supply Stock Performance

Shares of NASDAQ TSCO opened at $54.78 on Friday. The firm’s 50-day moving average price is $55.01 and its 200-day moving average price is $55.76. Tractor Supply Company has a 52-week low of $46.85 and a 52-week high of $63.99. The company has a market cap of $28.95 billion, a PE ratio of 26.34, a PEG ratio of 2.82 and a beta of 0.70. The company has a quick ratio of 0.14, a current ratio of 1.30 and a debt-to-equity ratio of 0.69.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, October 23rd. The specialty retailer reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.01. The firm had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Tractor Supply had a return on equity of 46.18% and a net margin of 7.18%.The company’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.45 EPS. Tractor Supply has set its FY 2025 guidance at 2.060-2.130 EPS. As a group, analysts anticipate that Tractor Supply Company will post 2.17 EPS for the current year.

Tractor Supply Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Monday, November 24th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Monday, November 24th. This represents a $0.92 annualized dividend and a yield of 1.7%. Tractor Supply’s payout ratio is currently 44.23%.

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.