Tractor Supply (NASDAQ:TSCO) CFO Sells $6,957,000.48 in Stock

Tractor Supply (NASDAQ:TSCO) CFO Kurt D. Barton sold 23,532 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total transaction of $6,957,000.48. Following the completion of the sale, the chief financial officer now owns 9,683 shares in the company, valued at $2,862,682.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Tractor Supply Stock Up 1.1 %

NASDAQ TSCO opened at $294.97 on Friday. The stock’s 50 day simple moving average is $271.03 and its 200 day simple moving average is $268.87. Tractor Supply has a one year low of $185.00 and a one year high of $298.36. The firm has a market cap of $31.82 billion, a PE ratio of 28.72, a price-to-earnings-growth ratio of 3.74 and a beta of 0.80. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.43 and a quick ratio of 0.25.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Thursday, July 25th. The specialty retailer reported $3.93 EPS for the quarter, hitting the consensus estimate of $3.93. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. The company had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.28 billion. During the same quarter in the prior year, the business earned $3.83 earnings per share. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, sell-side analysts forecast that Tractor Supply will post 10.23 earnings per share for the current fiscal year.

Tractor Supply Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend was Monday, August 26th. Tractor Supply’s dividend payout ratio is presently 42.84%.

Institutional Trading of Tractor Supply

Hedge funds have recently modified their holdings of the stock. Bank of Nova Scotia boosted its position in Tractor Supply by 32.7% in the 4th quarter. Bank of Nova Scotia now owns 16,098 shares of the specialty retailer’s stock valued at $3,461,000 after buying an additional 3,965 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Tractor Supply by 3.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 108,703 shares of the specialty retailer’s stock worth $23,374,000 after purchasing an additional 3,552 shares during the period. CWA Asset Management Group LLC raised its holdings in Tractor Supply by 7.6% during the 4th quarter. CWA Asset Management Group LLC now owns 1,364 shares of the specialty retailer’s stock worth $293,000 after purchasing an additional 96 shares during the last quarter. NEOS Investment Management LLC acquired a new position in Tractor Supply during the 4th quarter valued at about $328,000. Finally, Rafferty Asset Management LLC boosted its stake in shares of Tractor Supply by 8.8% in the 4th quarter. Rafferty Asset Management LLC now owns 11,938 shares of the specialty retailer’s stock valued at $2,567,000 after purchasing an additional 968 shares during the last quarter. 98.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TSCO shares. Wells Fargo & Company increased their target price on shares of Tractor Supply from $285.00 to $295.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. Melius Research began coverage on Tractor Supply in a research report on Monday, September 23rd. They issued a “buy” rating and a $315.00 price objective for the company. Evercore ISI lowered Tractor Supply from an “outperform” rating to an “in-line” rating and set a $300.00 price objective on the stock. in a report on Thursday. Loop Capital upped their target price on Tractor Supply from $250.00 to $260.00 and gave the company a “hold” rating in a research note on Friday, September 6th. Finally, Truist Financial lifted their price target on shares of Tractor Supply from $289.00 to $293.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $261.70.

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.