Mirae Asset Global Investments Co. Ltd. Buys 6,132 Shares of Tractor Supply Company (NASDAQ:TSCO)

Mirae Asset Global Investments Co. Ltd. raised its position in Tractor Supply Company (NASDAQ:TSCO - Free Report) by 10.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 66,530 shares of the specialty retailer's stock after buying an additional 6,132 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Tractor Supply were worth $3,557,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Wedmont Private Capital lifted its holdings in Tractor Supply by 2.5% during the first quarter. Wedmont Private Capital now owns 8,714 shares of the specialty retailer's stock worth $450,000 after acquiring an additional 212 shares during the period. Creative Financial Designs Inc. ADV increased its position in shares of Tractor Supply by 30.1% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 920 shares of the specialty retailer's stock valued at $51,000 after purchasing an additional 213 shares during the last quarter. Procyon Advisors LLC raised its stake in shares of Tractor Supply by 1.7% during the 1st quarter. Procyon Advisors LLC now owns 14,371 shares of the specialty retailer's stock worth $792,000 after purchasing an additional 238 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Tractor Supply by 5.5% in the 1st quarter. International Assets Investment Management LLC now owns 4,678 shares of the specialty retailer's stock worth $258,000 after buying an additional 242 shares during the last quarter. Finally, Family Legacy Inc. grew its position in Tractor Supply by 1.7% during the first quarter. Family Legacy Inc. now owns 17,157 shares of the specialty retailer's stock valued at $945,000 after buying an additional 281 shares during the period. Institutional investors own 98.72% of the company's stock.

Insider Transactions at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 2,810 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $51.76, for a total value of $145,445.60. Following the completion of the sale, the senior vice president owned 29,722 shares of the company's stock, valued at $1,538,410.72. This represents a 8.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jonathan S. Estep sold 56,630 shares of the stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $53.00, for a total transaction of $3,001,390.00. Following the transaction, the executive vice president owned 74,605 shares in the company, valued at $3,954,065. The trade was a 43.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.65% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on TSCO shares. Robert W. Baird dropped their target price on shares of Tractor Supply from $63.00 to $56.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Wall Street Zen downgraded Tractor Supply from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. Citigroup reduced their price objective on Tractor Supply from $59.00 to $51.00 and set a "neutral" rating for the company in a report on Friday, April 25th. UBS Group set a $54.00 target price on Tractor Supply in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. cut their price target on Tractor Supply from $59.00 to $56.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $58.02.

Tractor Supply Price Performance

Tractor Supply stock traded down $0.34 during midday trading on Thursday, hitting $54.80. 2,938,398 shares of the company's stock were exchanged, compared to its average volume of 5,145,540. The company has a market cap of $29.06 billion, a P/E ratio of 27.21, a PEG ratio of 2.91 and a beta of 0.75. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.17 and a current ratio of 1.41. The stock has a 50-day moving average price of $51.15 and a two-hundred day moving average price of $52.98. Tractor Supply Company has a 52-week low of $46.85 and a 52-week high of $61.53.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $0.34 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.03). The business had revenue of $3.47 billion for the quarter, compared to analysts' expectations of $3.55 billion. Tractor Supply had a return on equity of 47.56% and a net margin of 7.24%. The firm's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.83 EPS. On average, equities research analysts forecast that Tractor Supply Company will post 2.17 earnings per share for the current year.

Tractor Supply Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were given a dividend of $0.23 per share. The ex-dividend date was Wednesday, May 28th. This represents a $0.92 dividend on an annualized basis and a yield of 1.68%. Tractor Supply's payout ratio is 45.77%.

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.