Tractor Supply (NASDAQ:TSCO) Sees Large Growth in Short Interest

Tractor Supply (NASDAQ:TSCO) saw a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 31,890,000 shares, a growth 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 days-to-cover ratio is presently 6.2 days.

Insiders Place Their Bets

In other news, CFO Kurt D. Barton sold 117,660 shares of Tractor Supply stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $59.13, for a total value of $6,957,000.48. Following the completion of the transaction, the chief financial officer now owns 48,415 shares in the company, valued at approximately $2,862,682.12. This trade represents a 70.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.58% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tractor Supply

A number of hedge funds have recently added to or reduced their stakes in TSCO. Future Financial Wealth Managment LLC acquired a new position in shares of Tractor Supply during the 3rd quarter worth $29,000. First Personal Financial Services acquired a new position in Tractor Supply during the third quarter worth $29,000. Whittier Trust Co. raised its holdings in Tractor Supply by 60.9% during the second quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock valued at $30,000 after buying an additional 42 shares in the last quarter. Providence Capital Advisors LLC bought a new position in Tractor Supply during the third quarter valued at about $32,000. Finally, DT Investment Partners LLC lifted its position in shares of Tractor Supply by 120.0% in the third quarter. DT Investment Partners LLC now owns 132 shares of the specialty retailer’s stock worth $38,000 after buying an additional 72 shares during the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on TSCO shares. Benchmark lifted their target price on Tractor Supply from $56.00 to $62.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Gordon Haskett lowered Tractor Supply from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, October 24th. Truist Financial reduced their price target on Tractor Supply from $65.00 to $63.40 and set a “buy” rating for the company in a research report on Friday, October 25th. Loop Capital lifted their price objective on shares of Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, December 12th. Finally, Evercore ISI raised shares of Tractor Supply from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Tractor Supply currently has an average rating of “Moderate Buy” and a consensus target price of $57.98.

Tractor Supply Stock Down 1.8 %

Shares of NASDAQ TSCO traded down $0.98 during mid-day trading on Friday, reaching $54.51. The company had a trading volume of 1,143,559 shares, compared to its average volume of 5,249,408. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.17 and a current ratio of 1.48. Tractor Supply has a twelve month low of $42.35 and a twelve month high of $61.53. The stock’s 50 day moving average is $55.79 and its 200-day moving average is $55.19. The stock has a market capitalization of $29.12 billion, a PE ratio of 5.30, a price-to-earnings-growth ratio of 3.58 and a beta of 0.83.

Tractor Supply Cuts Dividend

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

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.