Tractor Supply (NASDAQ:TSCO) EVP Colin Yankee Sells 24,602 Shares of Stock

Tractor Supply (NASDAQ:TSCO) EVP Colin Yankee sold 24,602 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $54.15, for a total value of $1,332,198.30. Following the transaction, the executive vice president now directly owns 33,645 shares in the company, valued at $1,821,876.75. This trade represents a 42.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Tractor Supply Price Performance

Shares of TSCO opened at $56.99 on Friday. Tractor Supply has a fifty-two week low of $46.19 and a fifty-two week high of $61.53. The firm’s 50-day simple moving average is $54.82 and its two-hundred day simple moving average is $55.27. The stock has a market cap of $30.43 billion, a PE ratio of 27.94, a price-to-earnings-growth ratio of 2.70 and a beta of 0.84. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings results 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 49.01% and a net margin of 7.40%. Analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply declared that its Board of Directors has initiated a share buyback program on Thursday, February 13th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the specialty retailer to buy up to 3.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th will be given a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 6.46%. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s payout ratio is currently 43.14%.

Institutional Trading of Tractor Supply

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Tractor Supply by 392.5% in the fourth quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer’s stock worth $3,397,643,000 after buying an additional 51,031,178 shares in the last quarter. Wellington Management Group LLP lifted its position in Tractor Supply by 401.8% in the 4th quarter. Wellington Management Group LLP now owns 23,789,249 shares of the specialty retailer’s stock valued at $1,262,258,000 after acquiring an additional 19,048,385 shares in the last quarter. Alliancebernstein L.P. lifted its position in Tractor Supply by 403.3% in the 4th quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer’s stock valued at $1,180,932,000 after acquiring an additional 17,834,643 shares in the last quarter. Geode Capital Management LLC boosted its stake in Tractor Supply by 403.2% during the 4th quarter. Geode Capital Management LLC now owns 14,519,937 shares of the specialty retailer’s stock valued at $768,838,000 after purchasing an additional 11,634,249 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Tractor Supply by 391.0% in the 4th quarter. JPMorgan Chase & Co. now owns 10,821,654 shares of the specialty retailer’s stock worth $574,197,000 after purchasing an additional 8,617,869 shares in the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Wedbush reissued a “neutral” rating and set a $54.00 price objective on shares of Tractor Supply in a research note on Friday, October 25th. Benchmark raised their price target on shares of Tractor Supply from $56.00 to $62.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Truist Financial lowered their price objective on shares of Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, January 31st. DA Davidson raised their target price on Tractor Supply from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. boosted their price target on Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $59.22.

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.