Matthew L. Rubin Sells 3,850 Shares of Tractor Supply (NASDAQ:TSCO) Stock

Tractor Supply (NASDAQ:TSCO) SVP Matthew L. Rubin sold 3,850 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total value of $222,106.50. Following the transaction, the senior vice president now directly owns 31,787 shares of the company’s stock, valued at approximately $1,833,792.03. This trade represents a 10.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Tractor Supply Trading Up 1.7 %

Shares of TSCO stock opened at $57.01 on Wednesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. Tractor Supply has a 52-week low of $48.30 and a 52-week high of $61.53. The company has a market capitalization of $30.44 billion, a PE ratio of 27.95, a price-to-earnings-growth ratio of 2.95 and a beta of 0.84. The business’s fifty day moving average is $54.93 and its 200 day moving average is $55.62.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.28 by ($1.84). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. On average, equities research analysts anticipate that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply announced that its board has authorized a share buyback plan on Thursday, February 13th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to reacquire up to 3.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Tractor Supply Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th will be given a dividend of $0.92 per share. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a yield of 6.46%. Tractor Supply’s dividend payout ratio (DPR) is presently 45.10%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on TSCO shares. Bank of America increased their price objective on Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a report on Thursday, January 16th. Loop Capital increased their price objective on Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a report on Thursday, December 12th. Truist Financial cut their price target on Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a report on Friday, January 31st. JPMorgan Chase & Co. raised their price target on Tractor Supply from $58.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, Mizuho raised their price target on Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $59.22.

Institutional Investors Weigh In On Tractor Supply

A number of large investors have recently added to or reduced their stakes in the company. Private Advisor Group LLC raised its position in Tractor Supply by 0.5% during the third quarter. Private Advisor Group LLC now owns 7,693 shares of the specialty retailer’s stock valued at $2,238,000 after purchasing an additional 37 shares in the last quarter. Baldwin Investment Management LLC increased its holdings in shares of Tractor Supply by 0.3% in the third quarter. Baldwin Investment Management LLC now owns 11,402 shares of the specialty retailer’s stock worth $3,317,000 after buying an additional 38 shares during the period. TCI Wealth Advisors Inc. increased its holdings in shares of Tractor Supply by 5.1% in the third quarter. TCI Wealth Advisors Inc. now owns 846 shares of the specialty retailer’s stock worth $246,000 after buying an additional 41 shares during the period. Huntington National Bank increased its holdings in shares of Tractor Supply by 0.7% in the third quarter. Huntington National Bank now owns 5,538 shares of the specialty retailer’s stock worth $1,611,000 after buying an additional 41 shares during the period. Finally, First Horizon Advisors Inc. increased its holdings in shares of Tractor Supply by 13.2% in the third quarter. First Horizon Advisors Inc. now owns 351 shares of the specialty retailer’s stock worth $102,000 after buying an additional 41 shares during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.

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.