Tractor Supply (NASDAQ:TSCO) Short Interest Update

Tractor Supply (NASDAQ:TSCO) saw a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 31,890,000 shares, an increase of 460.5% from the November 30th total of 5,690,000 shares. Based on an average daily volume of 5,110,000 shares, the short-interest ratio is presently 6.2 days.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, CFO Kurt D. Barton sold 117,660 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $59.13, for a total transaction of $6,957,000.48. Following the completion of the transaction, the chief financial officer now owns 48,415 shares of the company’s stock, valued at $2,862,682.12. The trade was a 70.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.58% of the company’s stock.

Institutional Trading of Tractor Supply

A number of hedge funds and other institutional investors have recently modified their holdings of TSCO. Ballentine Partners LLC increased its stake in shares of Tractor Supply by 2.1% in the 2nd quarter. Ballentine Partners LLC now owns 4,504 shares of the specialty retailer’s stock valued at $1,216,000 after buying an additional 93 shares during the period. Silvant Capital Management LLC boosted its holdings in Tractor Supply by 20.9% in the third quarter. Silvant Capital Management LLC now owns 14,781 shares of the specialty retailer’s stock valued at $4,300,000 after acquiring an additional 2,556 shares during the last quarter. Blueshift Asset Management LLC increased its position in Tractor Supply by 32.7% in the third quarter. Blueshift Asset Management LLC now owns 9,945 shares of the specialty retailer’s stock worth $2,893,000 after purchasing an additional 2,452 shares during the period. Sanctuary Advisors LLC bought a new stake in Tractor Supply during the 2nd quarter worth about $13,353,000. Finally, Allspring Global Investments Holdings LLC lifted its position in Tractor Supply by 48.1% during 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 purchasing an additional 3,182 shares during the period. Institutional investors and hedge funds own 98.72% of the company’s stock.

Tractor Supply Price Performance

Shares of Tractor Supply stock traded down $0.98 during trading on Friday, reaching $54.51. The company’s stock had a trading volume of 1,143,559 shares, compared to its average volume of 5,249,408. Tractor Supply has a one year low of $42.35 and a one year high of $61.53. The stock has a 50-day moving average price of $55.79 and a two-hundred day moving average price of $55.19. The company has a current ratio of 1.48, a quick ratio of 0.17 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $29.12 billion, a P/E ratio of 5.30, a price-to-earnings-growth ratio of 3.58 and a beta of 0.83.

Tractor Supply Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, November 25th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.61%. Tractor Supply’s payout ratio is 42.72%.

Wall Street Analyst Weigh In

TSCO has been the subject of a number of research analyst reports. Wedbush reiterated a “neutral” rating and set a $54.00 price target on shares of Tractor Supply in a report on Friday, October 25th. Telsey Advisory Group reiterated an “outperform” rating and set a $67.00 target price on shares of Tractor Supply in a research note on Friday, December 6th. DA Davidson raised their price target on shares of Tractor Supply from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Wells Fargo & Company reduced their target price on shares of Tractor Supply from $65.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Finally, Barclays boosted their price target on Tractor Supply from $50.00 to $52.40 and gave the company an “equal weight” rating in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $57.98.

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.