Tractor Supply (NASDAQ:TSCO) SVP Matthew L. Rubin Sells 3,850 Shares of Stock

Tractor Supply (NASDAQ:TSCO) SVP Matthew L. Rubin sold 3,850 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total value of $222,106.50. Following the completion of the transaction, the senior vice president now directly owns 31,787 shares of the company’s stock, valued at approximately $1,833,792.03. This trade represents a 10.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Tractor Supply Stock Down 0.5 %

Shares of Tractor Supply stock opened at $56.06 on Tuesday. The business has a fifty day simple moving average of $54.89 and a 200 day simple moving average of $55.59. The stock has a market cap of $29.94 billion, a PE ratio of 27.48, a price-to-earnings-growth ratio of 2.95 and a beta of 0.84. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. Tractor Supply has a 12 month low of $48.30 and a 12 month high of $61.53.

Tractor Supply (NASDAQ:TSCO) last posted its earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share (EPS) 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%. Research analysts predict that Tractor Supply will post 2.17 EPS for the current year.

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

Tractor Supply Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th will be paid a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 6.56%. The ex-dividend date is Wednesday, February 26th. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio is presently 43.14%.

Analysts Set New Price Targets

TSCO has been the topic of several analyst reports. Truist Financial lowered their price objective on Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Bank of America increased their target price on shares of Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a research report on Thursday, January 16th. Guggenheim restated a “buy” rating and issued a $60.00 price target on shares of Tractor Supply in a research report on Friday, January 31st. Loop Capital raised their price objective on shares of Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a report on Thursday, December 12th. Finally, Benchmark lifted their target price on shares of Tractor Supply from $56.00 to $62.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Tractor Supply currently has an average rating of “Moderate Buy” and an average target price of $59.22.

Hedge Funds Weigh In On Tractor Supply

Institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its position in Tractor Supply by 48.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,801 shares of the specialty retailer’s stock valued at $2,851,000 after buying an additional 3,182 shares during the last quarter. Private Advisor Group LLC boosted its stake in shares of Tractor Supply by 0.5% in the third quarter. Private Advisor Group LLC now owns 7,693 shares of the specialty retailer’s stock valued at $2,238,000 after buying an additional 37 shares during the period. International Assets Investment Management LLC grew its position in Tractor Supply by 29,058.6% during the third quarter. International Assets Investment Management LLC now owns 233,269 shares of the specialty retailer’s stock worth $67,865,000 after buying an additional 232,469 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Tractor Supply by 87.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 49,558 shares of the specialty retailer’s stock worth $14,418,000 after acquiring an additional 23,057 shares during the period. Finally, Dakota Wealth Management acquired a new position in Tractor Supply in the 3rd quarter valued at $236,000. Institutional investors and hedge funds own 98.72% of the company’s stock.

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.