Tractor Supply (NASDAQ:TSCO) Short Interest Down 12.9% in June

Tractor Supply (NASDAQ:TSCO) was the recipient of a large drop in short interest in the month of June. As of June 15th, there was short interest totalling 6,480,000 shares, a drop of 12.9% from the May 31st total of 7,440,000 shares. Based on an average trading volume of 1,090,000 shares, the days-to-cover ratio is presently 5.9 days. Currently, 6.0% of the company’s stock are sold short.

Hedge Funds Weigh In On Tractor Supply

Several large investors have recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC bought a new stake in shares of Tractor Supply during the first quarter valued at approximately $26,000. Private Wealth Management Group LLC acquired a new stake in Tractor Supply during the fourth quarter worth $27,000. Pinnacle Bancorp Inc. acquired a new stake in Tractor Supply during the fourth quarter worth $28,000. Rise Advisors LLC increased its holdings in Tractor Supply by 157.1% in the 1st quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock valued at $28,000 after buying an additional 66 shares during the period. Finally, LRI Investments LLC acquired a new position in shares of Tractor Supply in the 1st quarter valued at $28,000. Institutional investors and hedge funds own 98.72% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Wells Fargo & Company raised their price target on shares of Tractor Supply from $250.00 to $285.00 and gave the stock an “overweight” rating in a report on Monday, March 25th. Raymond James boosted their price target on shares of Tractor Supply from $250.00 to $285.00 and gave the company an “outperform” rating in a report on Friday, April 26th. TD Cowen increased their price objective on Tractor Supply from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Barclays boosted their target price on Tractor Supply from $234.00 to $240.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Finally, Wedbush reaffirmed a “neutral” rating and set a $235.00 price target on shares of Tractor Supply in a research note on Tuesday, April 23rd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $254.17.

Tractor Supply Stock Performance

Shares of NASDAQ TSCO opened at $267.74 on Tuesday. Tractor Supply has a 12 month low of $185.00 and a 12 month high of $290.38. The company has a market cap of $28.87 billion, a P/E ratio of 26.07, a P/E/G ratio of 3.51 and a beta of 0.81. The business’s 50 day moving average is $275.20 and its two-hundred day moving average is $250.94. The company has a quick ratio of 0.19, a current ratio of 1.40 and a debt-to-equity ratio of 0.83.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.13. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same quarter in the previous year, the firm posted $1.65 earnings per share. Tractor Supply’s revenue was up 2.8% compared to the same quarter last year. On average, equities analysts expect that Tractor Supply will post 10.34 EPS for the current year.

Tractor Supply Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Tuesday, May 28th were paid a dividend of $1.10 per share. The ex-dividend date of this dividend was Friday, May 24th. This represents a $4.40 annualized dividend and a yield of 1.64%. Tractor Supply’s dividend payout ratio is 42.84%.

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.