Tractor Supply (TSCO) Sees Significant Decrease in Short Interest

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Tractor Supply (NASDAQ:TSCO) saw a significant drop in short interest in January. As of January 31st, there was short interest totalling 1,918,695 shares, a drop of 30.6% from the January 15th total of 2,766,098 shares. Currently, 1.6% of the shares of the stock are short sold. Based on an average trading volume of 1,768,875 shares, the short-interest ratio is currently 1.1 days.

TSCO has been the subject of several research analyst reports. Zacks Investment Research cut shares of Tractor Supply from a “buy” rating to a “hold” rating in a research note on Saturday, January 26th. BidaskClub cut shares of Tractor Supply from a “buy” rating to a “hold” rating in a research note on Saturday, January 5th. Royal Bank of Canada raised shares of Tractor Supply from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 25th. Bank of America reissued a “neutral” rating and issued a $90.00 price objective (down from $95.00) on shares of Tractor Supply in a research note on Wednesday, January 9th. Finally, Telsey Advisory Group lifted their price objective on shares of Tractor Supply from $77.00 to $85.00 and gave the stock a “market perform” rating in a research note on Friday, October 19th. Eleven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $90.20.

Shares of NASDAQ:TSCO opened at $95.83 on Thursday. Tractor Supply has a 52 week low of $58.27 and a 52 week high of $97.65. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.91 and a quick ratio of 0.22. The firm has a market capitalization of $11.46 billion, a price-to-earnings ratio of 22.23, a price-to-earnings-growth ratio of 1.61 and a beta of 1.08.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, January 31st. The specialty retailer reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.02. Tractor Supply had a net margin of 6.73% and a return on equity of 36.86%. The firm had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.10 billion. As a group, research analysts expect that Tractor Supply will post 4.71 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 12th. Investors of record on Monday, February 25th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, February 22nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.29%. Tractor Supply’s dividend payout ratio is presently 28.77%.

Several hedge funds have recently added to or reduced their stakes in the stock. Thoroughbred Financial Services LLC purchased a new position in shares of Tractor Supply during the 4th quarter worth about $548,000. Geode Capital Management LLC boosted its stake in shares of Tractor Supply by 11.3% during the 4th quarter. Geode Capital Management LLC now owns 1,931,675 shares of the specialty retailer’s stock worth $160,949,000 after purchasing an additional 195,817 shares during the period. Kinneret Advisory LLC purchased a new position in shares of Tractor Supply during the 4th quarter worth about $271,000. Fort L.P. purchased a new position in shares of Tractor Supply during the 4th quarter worth about $114,000. Finally, California State Teachers Retirement System boosted its stake in shares of Tractor Supply by 1.5% during the 4th quarter. California State Teachers Retirement System now owns 203,702 shares of the specialty retailer’s stock worth $16,997,000 after purchasing an additional 3,013 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

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Tractor Supply Company Profile

Tractor Supply Company operates rural lifestyle retail stores in the United States. The company offers a selection of merchandise, including equine, livestock, pet, and small animal products necessary for their health, care, growth, and containment; hardware, truck, towing, and tool products; seasonal products, such as heating products, lawn and garden items, power equipment, gifts, and toys; work/recreational clothing and footwear; and maintenance products for agricultural and rural use.

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