Cim LLC Has $19.27 Million Holdings in Tractor Supply (NASDAQ:TSCO)

Cim LLC raised its position in Tractor Supply (NASDAQ:TSCO - Free Report) by 402.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 363,233 shares of the specialty retailer's stock after purchasing an additional 290,882 shares during the period. Tractor Supply comprises about 2.7% of Cim LLC's investment portfolio, making the stock its 13th largest position. Cim LLC owned about 0.07% of Tractor Supply worth $19,273,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Smithfield Trust Co increased its stake in shares of Tractor Supply by 286.2% during the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock valued at $25,000 after acquiring an additional 352 shares during the last quarter. Coppell Advisory Solutions LLC grew its position in Tractor Supply by 944.4% in the fourth quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer's stock valued at $25,000 after acquiring an additional 425 shares in the last quarter. PrairieView Partners LLC grew its position in shares of 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 buying an additional 400 shares in the last quarter. Archer Investment Corp grew its position in shares of Tractor Supply by 400.0% during the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock worth $27,000 after buying an additional 400 shares in the last quarter. Finally, Kentucky Trust Co acquired a new stake in shares of Tractor Supply during the fourth quarter worth approximately $27,000. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Truist Financial decreased their price target on shares of Tractor Supply from $63.00 to $60.00 and set a "buy" rating for the company in a research report on Friday, January 31st. Guggenheim reduced their price objective on Tractor Supply from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Wall Street Zen upgraded Tractor Supply from a "sell" rating to a "hold" rating in a research note on Saturday. Raymond James reduced their price objective on Tractor Supply from $61.00 to $57.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. reduced their price objective on Tractor Supply from $59.00 to $56.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $58.02.

Insider Buying and Selling

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 transaction, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.65% of the stock is owned by corporate insiders.

Tractor Supply Price Performance

NASDAQ:TSCO traded down $1.32 during mid-day trading on Wednesday, reaching $49.06. 5,197,252 shares of the stock were exchanged, compared to its average volume of 5,150,180. The business has a fifty day moving average price of $51.33 and a 200 day moving average price of $53.80. The firm has a market capitalization of $26.01 billion, a PE ratio of 24.05, a PEG ratio of 2.95 and a beta of 0.82. Tractor Supply has a 1-year low of $46.85 and a 1-year high of $61.53. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82.

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

Tractor Supply Cuts Dividend

The company 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 dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Wednesday, May 28th. Tractor Supply's payout ratio is currently 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 outstanding shares. This repurchase authorization authorizes the specialty retailer to buy up to 3.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's management believes its stock is undervalued.

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.