IFM Investors Pty Ltd Lowers Position in Tractor Supply Company (NASDAQ:TSCO)

IFM Investors Pty Ltd cut its stake in Tractor Supply Company (NASDAQ:TSCO - Free Report) by 78.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,958 shares of the specialty retailer's stock after selling 86,957 shares during the quarter. IFM Investors Pty Ltd's holdings in Tractor Supply were worth $1,320,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Coppell Advisory Solutions LLC increased 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 worth $25,000 after purchasing an additional 425 shares during the last quarter. Whittier Trust Co. raised its position in shares of Tractor Supply by 400.0% during the 4th quarter. Whittier Trust Co. now owns 500 shares of the specialty retailer's stock worth $27,000 after acquiring an additional 400 shares in the last quarter. Dunhill Financial LLC raised its position in shares of Tractor Supply by 325.8% during the 4th quarter. Dunhill Financial LLC now owns 511 shares of the specialty retailer's stock worth $27,000 after acquiring an additional 391 shares in the last quarter. Pacific Center for Financial Services raised its position in shares of Tractor Supply by 400.0% during the 4th quarter. Pacific Center for Financial Services now owns 550 shares of the specialty retailer's stock worth $29,000 after acquiring an additional 440 shares in the last quarter. Finally, LRI Investments LLC raised its position in shares of Tractor Supply by 400.0% during the 4th quarter. LRI Investments LLC now owns 615 shares of the specialty retailer's stock worth $33,000 after acquiring an additional 492 shares in the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

Tractor Supply Stock Performance

NASDAQ TSCO traded up $0.44 during trading on Wednesday, reaching $57.21. The company's stock had a trading volume of 4,659,770 shares, compared to its average volume of 5,158,670. The company has a current ratio of 1.41, a quick ratio of 0.17 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $30.33 billion, a price-to-earnings ratio of 28.41, a price-to-earnings-growth ratio of 3.06 and a beta of 0.75. Tractor Supply Company has a 12 month low of $46.85 and a 12 month high of $61.53. The firm has a 50 day moving average price of $51.66 and a 200 day moving average price of $53.02.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced 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 firm had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.55 billion. Tractor Supply had a net margin of 7.24% and a return on equity of 47.56%. The firm's revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.83 earnings per share. As a group, equities analysts anticipate that Tractor Supply Company will post 2.17 EPS for the current fiscal year.

Tractor Supply Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Wednesday, May 28th. Tractor Supply's dividend payout ratio is currently 45.77%.

Insider Activity

In other Tractor Supply news, SVP Matthew L. Rubin sold 2,810 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $51.76, for a total transaction of $145,445.60. Following the completion of the transaction, the senior vice president directly owned 29,722 shares of the company's stock, valued at approximately $1,538,410.72. This represents a 8.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Denise L. Jackson sold 1,550 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $55.00, for a total value of $85,250.00. Following the completion of the sale, the director owned 39,918 shares in the company, valued at $2,195,490. This trade represents a 3.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,990 shares of company stock valued at $3,232,086 over the last three months. Corporate insiders own 0.65% of the company's stock.

Analyst Upgrades and Downgrades

TSCO has been the topic of a number of recent research reports. Guggenheim dropped 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. 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 research report on Monday, April 28th. Wall Street Zen lowered Tractor Supply from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. Raymond James Financial lowered their target price on Tractor Supply from $61.00 to $57.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Finally, UBS Group set a $54.00 price target on Tractor Supply in a report on Friday, April 25th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, 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.