Cushing Capital Partners LLC Grows Position in Tractor Supply Company (NASDAQ:TSCO)

Cushing Capital Partners LLC grew its stake in Tractor Supply Company (NASDAQ:TSCO) by 35.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,815 shares of the specialty retailer’s stock after buying an additional 4,672 shares during the quarter. Cushing Capital Partners LLC’s holdings in Tractor Supply were worth $982,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Clarius Group LLC purchased a new stake in shares of Tractor Supply in the first quarter worth $410,000. Optivise Advisory Services LLC increased its stake in Tractor Supply by 43.6% in the 1st quarter. Optivise Advisory Services LLC now owns 5,427 shares of the specialty retailer’s stock worth $299,000 after buying an additional 1,649 shares in the last quarter. Prosperity Wealth Management Inc. bought a new stake in Tractor Supply during the first quarter valued at about $320,000. CENTRAL TRUST Co raised its holdings in Tractor Supply by 0.4% during the first quarter. CENTRAL TRUST Co now owns 104,028 shares of the specialty retailer’s stock valued at $5,732,000 after acquiring an additional 376 shares during the period. Finally, Grove Bank & Trust boosted its stake in shares of Tractor Supply by 3,388.2% in the first quarter. Grove Bank & Trust now owns 2,965 shares of the specialty retailer’s stock worth $163,000 after acquiring an additional 2,880 shares during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Stock Down 1.4%

Shares of TSCO opened at $50.98 on Wednesday. The company has a quick ratio of 0.17, a current ratio of 1.41 and a debt-to-equity ratio of 0.94. The business has a fifty day moving average of $50.66 and a 200 day moving average of $53.27. The company has a market cap of $27.03 billion, a PE ratio of 25.31, a P/E/G ratio of 2.78 and a beta of 0.74. Tractor Supply Company has a 52-week low of $46.85 and a 52-week high of $61.53.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). Tractor Supply had a net margin of 7.24% and a return on equity of 47.56%. The firm had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.55 billion. During the same period in the prior year, the company posted $1.83 EPS. The company’s revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts expect that Tractor Supply Company will post 2.17 EPS for the current year.

Tractor Supply Cuts Dividend

The firm also recently announced 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 of this dividend was Wednesday, May 28th. This represents a $0.92 annualized dividend and a dividend yield of 1.80%. Tractor Supply’s dividend payout ratio (DPR) is presently 45.77%.

Insider Activity

In related news, SVP Matthew L. Rubin sold 2,810 shares of the firm’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 transaction of $145,445.60. Following the completion of the sale, the senior vice president now directly 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.65% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. UBS Group set a $54.00 target price on Tractor Supply in a research report on Friday, April 25th. Guggenheim cut their price objective on shares of Tractor Supply from $60.00 to $55.00 and set a “buy” rating for the company in a report on Friday, April 25th. Telsey Advisory Group set a $60.00 price objective on shares of Tractor Supply in a research report on Friday, April 25th. Mizuho lowered their target price on shares of Tractor Supply from $62.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Finally, Robert W. Baird cut their target price on shares of Tractor Supply from $63.00 to $56.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $58.02.

About Tractor Supply

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.