Insider Selling: Tractor Supply Company (NASDAQ:TSCO) EVP Sells 56,630 Shares of Stock

Tractor Supply Company (NASDAQ:TSCO) EVP Jonathan S. Estep sold 56,630 shares of the firm’s stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $53.00, for a total value of $3,001,390.00. Following the transaction, the executive vice president now owns 74,605 shares in the company, valued at approximately $3,954,065. This trade represents a 43.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Tractor Supply Trading Down 0.3%

NASDAQ TSCO opened at $51.71 on Friday. Tractor Supply Company has a 52 week low of $46.85 and a 52 week high of $61.53. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.17 and a current ratio of 1.41. The stock’s 50 day moving average price is $50.92 and its two-hundred day moving average price is $53.04. The stock has a market capitalization of $27.42 billion, a price-to-earnings ratio of 25.68, a PEG ratio of 2.79 and a beta of 0.74.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). Tractor Supply had a return on equity of 47.56% and a net margin of 7.24%. The business had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.55 billion. During the same period in the prior year, the firm earned $1.83 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, analysts anticipate that Tractor Supply Company will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were given a dividend of $0.23 per share. The ex-dividend date was Wednesday, May 28th. This represents a $0.92 annualized dividend and a yield of 1.78%. Tractor Supply’s dividend payout ratio (DPR) is presently 45.77%.

Hedge Funds Weigh In On Tractor Supply

Large investors have recently modified their holdings of the business. Hancock Whitney Corp boosted its position in Tractor Supply by 2.0% during the first quarter. Hancock Whitney Corp now owns 9,849 shares of the specialty retailer’s stock valued at $543,000 after purchasing an additional 194 shares during the last quarter. Nissay Asset Management Corp Japan ADV boosted its holdings in shares of Tractor Supply by 0.3% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 66,483 shares of the specialty retailer’s stock valued at $3,663,000 after buying an additional 208 shares during the last quarter. Wedmont Private Capital grew its stake in shares of Tractor Supply by 2.5% in the first quarter. Wedmont Private Capital now owns 8,714 shares of the specialty retailer’s stock valued at $450,000 after buying an additional 212 shares in the last quarter. Creative Financial Designs Inc. ADV increased its holdings in Tractor Supply by 30.1% during the first quarter. Creative Financial Designs Inc. ADV now owns 920 shares of the specialty retailer’s stock worth $51,000 after buying an additional 213 shares during the last quarter. Finally, Independent Wealth Network Inc. raised its position in Tractor Supply by 5.2% during the first quarter. Independent Wealth Network Inc. now owns 4,335 shares of the specialty retailer’s stock worth $239,000 after acquiring an additional 215 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TSCO shares. Wall Street Zen downgraded shares of Tractor Supply from a “hold” rating to a “sell” rating in a research report on Friday, June 6th. Citigroup reduced their price target on shares of Tractor Supply from $59.00 to $51.00 and set a “neutral” rating on the stock in a research report on Friday, April 25th. Guggenheim decreased their price target on shares of Tractor Supply from $60.00 to $55.00 and set a “buy” rating for the company in a report on Friday, April 25th. Mizuho lowered their price objective on shares of Tractor Supply from $62.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Finally, Raymond James Financial reduced their target price on Tractor Supply from $61.00 to $57.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Tractor Supply has a consensus rating of “Moderate Buy” and a consensus target price of $58.02.

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.