Mackenzie Financial Corp Buys 103,041 Shares of Tractor Supply (NASDAQ:TSCO)

Mackenzie Financial Corp lifted its holdings in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 522.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 122,765 shares of the specialty retailer's stock after acquiring an additional 103,041 shares during the quarter. Mackenzie Financial Corp's holdings in Tractor Supply were worth $6,514,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. FORA Capital LLC grew its stake in shares of Tractor Supply by 434.1% in the fourth quarter. FORA Capital LLC now owns 35,526 shares of the specialty retailer's stock worth $1,885,000 after acquiring an additional 28,875 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Tractor Supply by 385.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,089,542 shares of the specialty retailer's stock worth $59,260,000 after buying an additional 865,273 shares during the period. BOK Financial Private Wealth Inc. raised its stake in Tractor Supply by 330.2% during the 4th quarter. BOK Financial Private Wealth Inc. now owns 21,355 shares of the specialty retailer's stock worth $1,133,000 after acquiring an additional 16,391 shares during the period. Gen Wealth Partners Inc grew its holdings in Tractor Supply by 513.8% during the 4th quarter. Gen Wealth Partners Inc now owns 14,320 shares of the specialty retailer's stock valued at $760,000 after buying an additional 11,987 shares in the last quarter. Finally, Blueshift Asset Management LLC grew its holdings in Tractor Supply by 571.8% during the 4th quarter. Blueshift Asset Management LLC now owns 66,815 shares of the specialty retailer's stock valued at $3,545,000 after buying an additional 56,870 shares in the last quarter. Institutional investors own 98.72% of the company's stock.

Tractor Supply Stock Performance

Tractor Supply stock traded down $0.55 during trading hours on Friday, hitting $48.42. The stock had a trading volume of 7,785,239 shares, compared to its average volume of 5,174,335. Tractor Supply has a fifty-two week low of $46.85 and a fifty-two week high of $61.53. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. The company has a 50-day moving average of $51.15 and a two-hundred day moving average of $53.70. The company has a market cap of $25.67 billion, a PE ratio of 23.74, a price-to-earnings-growth ratio of 2.95 and a beta of 0.82.

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

Tractor Supply declared that its board has approved a share repurchase program on Thursday, February 13th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the specialty retailer to buy up to 3.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its shares are undervalued.

Tractor Supply Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th will be issued a dividend of $0.23 per share. The ex-dividend date is Wednesday, May 28th. This represents a $0.92 annualized dividend and a yield of 1.90%. Tractor Supply's dividend payout ratio is presently 45.77%.

Insiders Place Their Bets

In related news, SVP Matthew L. Rubin sold 2,810 shares of Tractor Supply stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $51.76, for a total value of $145,445.60. Following the sale, the senior vice president now owns 29,722 shares of the company's stock, valued at approximately $1,538,410.72. The trade was a 8.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.65% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on TSCO shares. Telsey Advisory Group set a $60.00 target price on shares of Tractor Supply in a report on Friday, April 25th. UBS Group set a $54.00 price objective on Tractor Supply in a report on Friday, April 25th. JPMorgan Chase & Co. reduced their target price on shares of Tractor Supply from $59.00 to $56.00 and set a "neutral" rating for the company in a report on Monday, April 28th. Robert W. Baird cut their price objective on shares of Tractor Supply from $63.00 to $56.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Finally, Mizuho dropped their target price on Tractor Supply from $62.00 to $58.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $58.02.

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.