Short Interest in Tractor Supply (NASDAQ:TSCO) Drops By 5.4%

Tractor Supply (NASDAQ:TSCO) was the recipient of a significant drop in short interest during the month of June. As of June 30th, there was short interest totalling 3,465,800 shares, a drop of 5.4% from the May 30th total of 3,665,200 shares. Currently, 2.9% of the company’s shares are short sold. Based on an average trading volume of 1,190,000 shares, the days-to-cover ratio is presently 2.9 days.

In related news, COO Steve K. Barbarick sold 36,108 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $104.10, for a total value of $3,758,842.80. Following the completion of the sale, the chief operating officer now directly owns 60,258 shares of the company’s stock, valued at $6,272,857.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP John P. Ordus sold 10,968 shares of the company’s stock in a transaction that occurred on Wednesday, June 19th. The shares were sold at an average price of $104.09, for a total value of $1,141,659.12. Following the transaction, the senior vice president now directly owns 21,000 shares of the company’s stock, valued at $2,185,890. The disclosure for this sale can be found here. Insiders sold 79,943 shares of company stock worth $8,322,943 in the last quarter. 1.50% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the company. Icon Wealth Partners LLC bought a new stake in shares of Tractor Supply in the 1st quarter valued at $27,000. Liberty Wealth Management LLC bought a new stake in shares of Tractor Supply in the 4th quarter valued at $31,000. Psagot Investment House Ltd. bought a new stake in shares of Tractor Supply in the 4th quarter valued at $35,000. Lindbrook Capital LLC boosted its stake in Tractor Supply by 79.7% during the first quarter. Lindbrook Capital LLC now owns 451 shares of the specialty retailer’s stock worth $44,000 after acquiring an additional 200 shares in the last quarter. Finally, Pinnacle Financial Partners Inc. bought a new position in Tractor Supply during the first quarter worth $49,000. 82.02% of the stock is currently owned by institutional investors.

A number of equities research analysts have weighed in on the company. Wells Fargo & Co restated a “buy” rating and issued a $115.00 target price on shares of Tractor Supply in a research report on Wednesday, May 15th. Gordon Haskett raised shares of Darden Restaurants from an “underperform” rating to a “hold” rating in a research note on Thursday, March 21st. Goldman Sachs Group raised shares of Altria Group from a “neutral” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Thursday, July 11th. Bank of America set a $7.00 price objective on shares of Deutsche Bank and gave the stock a “sell” rating in a report on Thursday, April 11th. Finally, BidaskClub cut shares of Amyris from a “hold” rating to a “sell” rating in a report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the stock. Tractor Supply presently has an average rating of “Hold” and an average target price of $101.72.

Shares of NASDAQ TSCO opened at $111.46 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.15 and a current ratio of 1.58. Tractor Supply has a 52-week low of $75.84 and a 52-week high of $113.54. The company has a 50 day simple moving average of $107.20. The firm has a market cap of $13.63 billion, a PE ratio of 25.86, a P/E/G ratio of 2.09 and a beta of 1.09.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data on Thursday, April 25th. The specialty retailer reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.07. Tractor Supply had a net margin of 6.68% and a return on equity of 36.16%. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same period in the prior year, the firm posted $0.57 EPS. The company’s quarterly revenue was up 8.3% on a year-over-year basis. On average, analysts expect that Tractor Supply will post 4.77 EPS for the current year.

Tractor Supply Company Profile

Tractor Supply Company operates rural lifestyle retail stores in the United States. The company offers a selection of merchandise, including equine, livestock, pet, and small animal products necessary for their health, care, growth, and containment; hardware, truck, towing, and tool products; seasonal products, such as heating products, lawn and garden items, power equipment, gifts, and toys; work/recreational clothing and footwear; and maintenance products for agricultural and rural use.

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