MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows Position in Tractor Supply (NASDAQ:TSCO)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 161.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,565 shares of the specialty retailer's stock after purchasing an additional 35,537 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Tractor Supply were worth $3,054,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Coppell Advisory Solutions LLC lifted its position in shares of Tractor Supply by 944.4% during the 4th quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer's stock valued at $25,000 after buying an additional 425 shares in the last quarter. Smithfield Trust Co increased its stake in shares of 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 in the last quarter. Archer Investment Corp raised its position in shares of Tractor Supply by 400.0% during the 4th quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 400 shares during the last quarter. PrairieView Partners LLC boosted its holdings in Tractor Supply by 400.0% in the 4th quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer's stock worth $26,000 after buying an additional 400 shares during the last quarter. Finally, Kentucky Trust Co acquired a new stake in shares of Tractor Supply in the fourth quarter worth approximately $27,000. 98.72% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Tractor Supply news, SVP Matthew L. Rubin sold 2,810 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $51.76, for a total transaction 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. This trade represents a 8.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.65% of the stock is owned by company insiders.

Tractor Supply Stock Performance

Shares of TSCO stock opened at $51.60 on Wednesday. The firm has a 50 day moving average of $51.65 and a two-hundred day moving average of $54.06. The stock has a market capitalization of $27.36 billion, a PE ratio of 25.29, a P/E/G ratio of 2.95 and a beta of 0.82. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. Tractor Supply has a 52 week low of $46.85 and a 52 week high of $61.53.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its quarterly earnings data 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). The company had revenue of $3.47 billion during the quarter, compared to analysts' expectations of $3.55 billion. Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. The business's quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.83 EPS. On average, research analysts predict that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply announced that its board has authorized a stock buyback plan on Thursday, February 13th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the specialty retailer to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are often 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. Investors of record on Wednesday, May 28th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Wednesday, May 28th. Tractor Supply's dividend payout ratio (DPR) is presently 45.77%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Guggenheim lowered their target price on shares of Tractor Supply from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. UBS Group set a $54.00 price target on shares of Tractor Supply in a research report on Friday, April 25th. Telsey Advisory Group set a $60.00 target price on Tractor Supply in a report on Friday, April 25th. Stephens assumed coverage on Tractor Supply in a report on Wednesday, April 9th. They issued an "equal weight" rating and a $56.00 price target for the company. Finally, Mizuho reduced their price objective 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 analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $58.02.

Tractor Supply 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.

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