Ethic Inc. Has $4.56 Million Holdings in Tractor Supply (NASDAQ:TSCO)

Ethic Inc. boosted its holdings in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 527.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 85,993 shares of the specialty retailer's stock after buying an additional 72,289 shares during the quarter. Ethic Inc.'s holdings in Tractor Supply were worth $4,563,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Smithfield Trust Co lifted its stake in Tractor Supply by 286.2% during the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock worth $25,000 after purchasing an additional 352 shares during the period. Coppell Advisory Solutions LLC lifted its stake in Tractor Supply by 944.4% during the fourth quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer's stock worth $25,000 after purchasing an additional 425 shares during the period. PrairieView Partners LLC lifted its stake in Tractor Supply by 400.0% during the fourth quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer's stock worth $26,000 after purchasing an additional 400 shares during the period. Future Financial Wealth Managment LLC lifted its stake in Tractor Supply by 400.0% during the fourth quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 400 shares during the period. Finally, Archer Investment Corp raised its stake in shares of Tractor Supply by 400.0% in the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 400 shares during the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TSCO. Guggenheim reduced their target price on Tractor Supply from $60.00 to $55.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Bank of America boosted their target price on Tractor Supply from $44.00 to $53.00 and gave the stock an "underperform" rating in a report on Thursday, January 16th. Robert W. Baird reduced their target price on Tractor Supply from $63.00 to $56.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Telsey Advisory Group set a $60.00 target price on Tractor Supply in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. reduced their target price on Tractor Supply from $59.00 to $56.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $58.02.

Tractor Supply Trading Up 1.0%

Shares of TSCO stock traded up $0.51 on Friday, hitting $52.68. The stock had a trading volume of 3,370,448 shares, compared to its average volume of 5,169,794. Tractor Supply has a twelve month low of $46.85 and a twelve month high of $61.53. The firm has a market cap of $27.93 billion, a P/E ratio of 25.81, a PEG ratio of 2.95 and a beta of 0.82. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. The company has a fifty day moving average price of $51.66 and a two-hundred day moving average price of $54.08.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.03). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. The firm had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.55 billion. During the same period last year, the firm earned $1.83 EPS. Tractor Supply's quarterly revenue was up 2.1% on a year-over-year basis. As a group, analysts forecast that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.75%. Tractor Supply's dividend payout ratio (DPR) is 45.77%.

Tractor Supply declared that its Board of Directors has authorized a share buyback program on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the specialty retailer to purchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its shares are undervalued.

Insider Activity

In related news, SVP Matthew L. Rubin sold 3,850 shares of the company's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total value of $222,106.50. Following the completion of the transaction, the senior vice president now directly owns 31,787 shares of the company's stock, valued at approximately $1,833,792.03. This represents a 10.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.65% of the stock is owned by company insiders.

Tractor Supply Company Profile

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.