Insider Selling: Tractor Supply (NASDAQ:TSCO) CFO Sells 1,884 Shares of Stock

Tractor Supply Company (NASDAQ:TSCO) CFO Kurt Barton sold 1,884 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $53.81, for a total transaction of $101,378.04. Following the sale, the chief financial officer owned 52,562 shares in the company, valued at approximately $2,828,361.22. The trade was a 3.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Tractor Supply Stock Down 0.2%

TSCO stock traded down $0.12 during midday trading on Thursday, hitting $54.41. The company’s stock had a trading volume of 5,824,201 shares, compared to its average volume of 8,296,703. The firm’s 50-day moving average is $52.34 and its 200-day moving average is $55.47. The company has a current ratio of 1.34, a quick ratio of 0.16 and a debt-to-equity ratio of 0.70. Tractor Supply Company has a 12 month low of $46.85 and a 12 month high of $63.99. The company has a market cap of $28.75 billion, a PE ratio of 26.29, a P/E/G ratio of 2.71 and a beta of 0.74.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings results on Thursday, January 29th. The specialty retailer reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.03). The business had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $4.03 billion. Tractor Supply had a return on equity of 44.36% and a net margin of 7.06%.The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.44 EPS. On average, equities research analysts forecast that Tractor Supply Company will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th will be paid a dividend of $0.24 per share. The ex-dividend date is Tuesday, February 24th. This represents a $0.96 annualized dividend and a yield of 1.8%. This is an increase from Tractor Supply’s previous quarterly dividend of $0.23. Tractor Supply’s dividend payout ratio (DPR) is currently 44.44%.

Institutional Trading of Tractor Supply

Several institutional investors and hedge funds have recently bought and sold shares of TSCO. Vanguard Group Inc. raised its position in Tractor Supply by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 67,679,109 shares of the specialty retailer’s stock worth $3,571,427,000 after buying an additional 1,047,687 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Tractor Supply by 1.6% in the 3rd quarter. Wellington Management Group LLP now owns 25,931,699 shares of the specialty retailer’s stock valued at $1,474,736,000 after purchasing an additional 420,731 shares in the last quarter. Capital International Investors lifted its holdings in shares of Tractor Supply by 3.9% during the 4th quarter. Capital International Investors now owns 24,279,046 shares of the specialty retailer’s stock valued at $1,214,390,000 after acquiring an additional 902,659 shares in the last quarter. State Street Corp raised its holdings in shares of Tractor Supply by 0.7% during the 2nd quarter. State Street Corp now owns 23,002,120 shares of the specialty retailer’s stock valued at $1,213,822,000 after buying an additional 150,392 shares during the period. Finally, Geode Capital Management LLC increased its stake in Tractor Supply by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 15,873,514 shares of the specialty retailer’s stock worth $791,703,000 after buying an additional 184,457 shares during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TSCO shares. Piper Sandler reduced their price objective on Tractor Supply from $67.00 to $59.00 and set an “overweight” rating for the company in a research note on Friday, January 30th. Guggenheim reiterated a “buy” rating and set a $65.00 target price on shares of Tractor Supply in a report on Thursday, January 22nd. JPMorgan Chase & Co. dropped their price objective on shares of Tractor Supply from $62.00 to $59.00 and set a “neutral” rating on the stock in a report on Friday, January 30th. Wolfe Research reiterated an “outperform” rating and set a $57.00 price target on shares of Tractor Supply in a research note on Friday, January 30th. Finally, Robert W. Baird raised their price objective on Tractor Supply from $65.00 to $67.00 and gave the stock an “outperform” rating in a research note on Friday, October 24th. Fifteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $59.78.

About Tractor Supply

Tractor Supply Company (NASDAQ: TSCO) is a specialty retailer focused on products for the home, farm, ranch and outdoors. The company operates a network of physical retail locations complemented by an e-commerce platform, offering a one-stop source of supplies and equipment for customers with rural and suburban lifestyles. Its merchandise assortment targets a range of needs, from animal and livestock care to maintenance, outdoor power equipment, and seasonal products.

Product categories include animal feed and supplies, pet products, fencing and fencing supplies, equine equipment, lawn and garden tools, work clothing and footwear, and small agricultural and outdoor power equipment.