Tractor Supply Sees Unusually Large Options Volume (NASDAQ:TSCO)

Tractor Supply (NASDAQ:TSCO) was the target of unusually large options trading on Thursday. Traders bought 3,363 put options on the company. This represents an increase of approximately 16% compared to the typical daily volume of 2,908 put options.

Tractor Supply Stock Performance

TSCO traded up $0.07 on Friday, hitting $54.36. 9,309,324 shares of the company’s stock were exchanged, compared to its average volume of 5,541,401. The firm has a market cap of $29.04 billion, a PE ratio of 26.44, a P/E/G ratio of 3.29 and a beta of 0.84. Tractor Supply has a twelve month low of $44.35 and a twelve month high of $61.53. The stock has a fifty day moving average of $55.28 and a two-hundred day moving average of $55.23. The company has a current ratio of 1.48, a quick ratio of 0.17 and a debt-to-equity ratio of 0.81.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share for the quarter, missing the consensus estimate of $2.28 by ($1.84). Tractor Supply had a return on equity of 50.19% and a net margin of 7.53%. On average, research analysts anticipate that Tractor Supply will post 2.05 earnings per share for the current fiscal year.

Tractor Supply Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were paid a $0.22 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $0.88 annualized dividend and a dividend yield of 1.62%. Tractor Supply’s payout ratio is currently 42.72%.

Institutional Investors Weigh In On Tractor Supply

Several large investors have recently made changes to their positions in TSCO. Meridiem Investment Management Ltd. increased its stake in shares of Tractor Supply by 398.9% in the fourth quarter. Meridiem Investment Management Ltd. now owns 5,118,785 shares of the specialty retailer’s stock valued at $271,674,000 after purchasing an additional 4,092,808 shares during the period. Provident Trust Co. boosted its holdings in shares of Tractor Supply by 397.4% in the fourth quarter. Provident Trust Co. now owns 3,380,905 shares of the specialty retailer’s stock valued at $179,391,000 after acquiring an additional 2,701,204 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Tractor Supply by 345.2% in the fourth quarter. Principal Financial Group Inc. now owns 1,402,070 shares of the specialty retailer’s stock valued at $74,394,000 after acquiring an additional 1,087,112 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Tractor Supply by 397.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,231,865 shares of the specialty retailer’s stock valued at $65,363,000 after acquiring an additional 984,113 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Tractor Supply by 387.4% in the fourth quarter. Rhumbline Advisers now owns 1,166,820 shares of the specialty retailer’s stock valued at $61,911,000 after acquiring an additional 927,406 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on TSCO. Loop Capital raised their price target on Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a report on Thursday, December 12th. Benchmark boosted their price target on Tractor Supply from $56.00 to $62.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Evercore ISI raised Tractor Supply from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 15th. Raymond James boosted their price target on Tractor Supply from $57.00 to $58.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Finally, Truist Financial cut their price objective on Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $58.90.

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.