Tractor Supply (NASDAQ:TSCO) Sees Significant Increase in Short Interest

by · The Markets Daily

Tractor Supply (NASDAQ:TSCO – Get Free Report) saw a significant growth in short interest in 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 trading volume, of 5,110,000 shares, the days-to-cover ratio is presently 6.2 days.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Piper Sandler upped their price target on Tractor Supply from $60.00 to $66.40 and gave the company an “overweight” rating in a research report on Monday, October 14th. Melius Research assumed coverage on Tractor Supply in a report on Monday, September 23rd. They issued a “buy” rating and a $63.00 target price on the stock. Raymond James raised their price target on shares of Tractor Supply from $57.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. JPMorgan Chase & Co. boosted their price target on shares of Tractor Supply from $52.00 to $58.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Finally, DA Davidson increased their price objective 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. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Tractor Supply has a consensus rating of “Moderate Buy” and a consensus price target of $57.98.

Check Out Our Latest Stock Analysis on Tractor Supply

Tractor Supply Stock Up 1.1 %

TSCO stock traded up $0.60 during mid-day trading on Thursday, reaching $55.09. 752,668 shares of the company traded hands, compared to its average volume of 5,255,246. The stock has a market cap of $29.43 billion, a price-to-earnings ratio of 5.36, a P/E/G ratio of 3.58 and a beta of 0.83. Tractor Supply has a fifty-two week low of $41.80 and a fifty-two week high of $61.53. The firm’s 50 day moving average price is $55.87 and its 200 day moving average price is $55.18. The company has a quick ratio of 0.17, a current ratio of 1.48 and a debt-to-equity ratio of 0.81.

Tractor Supply Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors 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 annualized dividend and a dividend yield of 1.60%. Tractor Supply’s payout ratio is 42.72%.

Insider Activity

In related 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 value of $6,957,000.48. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.58% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tractor Supply

Institutional investors and hedge funds have recently bought and sold shares of the stock. Future Financial Wealth Managment LLC purchased a new position in Tractor Supply during the 3rd quarter worth $29,000. First Personal Financial Services bought a new position in shares of Tractor Supply during the third quarter valued at about $29,000. Whittier Trust Co. boosted 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 worth $30,000 after purchasing an additional 42 shares during the last quarter. Providence Capital Advisors LLC bought a new stake in Tractor Supply in the 3rd quarter worth about $32,000. Finally, DT Investment Partners LLC increased its stake in Tractor Supply by 120.0% in the 3rd quarter. DT Investment Partners LLC now owns 132 shares of the specialty retailer’s stock valued at $38,000 after buying an additional 72 shares during the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

Tractor Supply Company Profile

(Get Free Report)

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.

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