Key Points
- Colin Yankee, Tractor Supply's EVP, sold 11,170 shares at an average price of $55.35 on Feb. 13 for $618,259.50, reducing his stake by 19.71% to 45,515 shares (SEC filing).
- Tractor Supply missed quarterly estimates, reporting EPS of $0.43 vs. $0.46 expected and revenue of $3.90B vs. $4.03B, though revenue was up 3.3% year-over-year.
- The company raised its quarterly dividend to $0.24 (from $0.23), payable March 10 with an ex-dividend date of Feb. 24, implying a $0.96 annual payout and roughly a 1.8% yield.
Tractor Supply Company (NASDAQ:TSCO - Get Free Report) EVP Colin Yankee sold 11,170 shares of the stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $55.35, for a total value of $618,259.50. Following the completion of the sale, the executive vice president owned 45,515 shares of the company's stock, valued at $2,519,255.25. This trade represents a 19.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Tractor Supply Trading Down 4.3%
TSCO opened at $52.69 on Wednesday. The stock has a market capitalization of $27.84 billion, a P/E ratio of 25.45, a P/E/G ratio of 2.76 and a beta of 0.74. 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 firm's fifty day simple moving average is $52.40 and its 200 day simple moving average is $55.35.
Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued 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). Tractor Supply had a return on equity of 44.36% and a net margin of 7.06%.The business had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $4.03 billion. During the same period in the prior year, the business earned $0.44 earnings per share. Tractor Supply's revenue was up 3.3% compared to the same quarter last year. As a group, research analysts anticipate that Tractor Supply Company will post 2.17 EPS for the current fiscal year.
Tractor Supply Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th will be issued a dividend of $0.24 per share. The ex-dividend date is Tuesday, February 24th. This is an increase from Tractor Supply's previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 1.8%. Tractor Supply's dividend payout ratio is 44.44%.
Analysts Set New Price Targets
A number of research firms have commented on TSCO. TD Cowen reduced their price objective on shares of Tractor Supply from $55.00 to $53.00 and set a "hold" rating for the company in a research report on Friday, January 30th. Zacks Research downgraded shares of Tractor Supply from a "hold" rating to a "strong sell" rating in a report on Monday, February 2nd. Robert W. Baird increased their price target on shares of Tractor Supply from $65.00 to $67.00 and gave the company an "outperform" rating in a report on Friday, October 24th. Argus cut their price objective on shares of Tractor Supply from $67.00 to $64.00 and set a "buy" rating for the company in a research report on Monday, February 2nd. Finally, JPMorgan Chase & Co. decreased their target price on Tractor Supply from $62.00 to $59.00 and set a "neutral" rating on the stock in a research report on Friday, January 30th. Fifteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Tractor Supply presently has a consensus rating of "Moderate Buy" and a consensus price target of $59.78.
Get Our Latest Stock Report on Tractor Supply
Institutional Investors Weigh In On Tractor Supply
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. lifted its position in shares of Tractor Supply by 123.4% during the 2nd quarter. Invesco Ltd. now owns 15,079,313 shares of the specialty retailer's stock worth $795,735,000 after buying an additional 8,329,462 shares during the last quarter. Norges Bank acquired a new position in Tractor Supply during the fourth quarter worth about $303,862,000. Victory Capital Management Inc. lifted its holdings in shares of Tractor Supply by 719.1% in the third quarter. Victory Capital Management Inc. now owns 4,508,661 shares of the specialty retailer's stock worth $256,408,000 after acquiring an additional 3,958,205 shares during the last quarter. Select Equity Group L.P. boosted its stake in shares of Tractor Supply by 41.9% in the 2nd quarter. Select Equity Group L.P. now owns 12,713,409 shares of the specialty retailer's stock valued at $670,887,000 after purchasing an additional 3,753,414 shares in the last quarter. Finally, APG Asset Management N.V. grew its stake in shares of Tractor Supply by 505.1% during the third quarter. APG Asset Management N.V. now owns 4,329,556 shares of the specialty retailer's stock worth $246,222,000 after buying an additional 3,614,097 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors.
Tractor Supply Company Profile
(
Get Free Report)
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.
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