Denise L. Jackson Sells 1,000 Shares of Tractor Supply Company (NASDAQ:TSCO) Stock

Tractor Supply Company (NASDAQ:TSCO - Get Free Report) Director Denise L. Jackson sold 1,000 shares of the stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $57.00, for a total transaction of $57,000.00. Following the completion of the sale, the director owned 34,288 shares of the company's stock, valued at approximately $1,954,416. This trade represents a 2.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Tractor Supply Stock Performance

Shares of NASDAQ TSCO traded down $0.65 during midday trading on Friday, hitting $56.79. The company's stock had a trading volume of 5,881,088 shares, compared to its average volume of 5,166,227. The firm has a market capitalization of $30.11 billion, a price-to-earnings ratio of 28.20, a P/E/G ratio of 3.08 and a beta of 0.75. The company has a current ratio of 1.41, a quick ratio of 0.17 and a debt-to-equity ratio of 0.94. The stock has a fifty day moving average price of $51.93 and a 200 day moving average price of $53.08. Tractor Supply Company has a one year low of $46.85 and a one year high of $61.53.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.37 by ($0.03). Tractor Supply had a net margin of 7.24% and a return on equity of 47.56%. The business had revenue of $3.47 billion during the quarter, compared to analysts' expectations of $3.55 billion. During the same quarter in the prior year, the firm posted $1.83 earnings per share. The firm's quarterly revenue was up 2.1% on a year-over-year basis. On average, research analysts forecast that Tractor Supply Company will post 2.17 EPS for the current fiscal year.

Tractor Supply Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.62%. The ex-dividend date was Wednesday, May 28th. Tractor Supply's dividend payout ratio (DPR) is presently 45.77%.

Institutional Trading of Tractor Supply

Institutional investors have recently added to or reduced their stakes in the stock. Compass Ion Advisors LLC purchased a new position in Tractor Supply during the 2nd quarter valued at about $244,000. Farther Finance Advisors LLC boosted its position in shares of Tractor Supply by 82.8% in the second quarter. Farther Finance Advisors LLC now owns 38,004 shares of the specialty retailer's stock valued at $2,005,000 after acquiring an additional 17,212 shares during the period. UMB Bank n.a. grew its stake in Tractor Supply by 1.3% during the second quarter. UMB Bank n.a. now owns 21,170 shares of the specialty retailer's stock valued at $1,117,000 after acquiring an additional 267 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Tractor Supply by 4.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 30,732 shares of the specialty retailer's stock worth $1,622,000 after acquiring an additional 1,397 shares during the period. Finally, Kingstone Capital Partners Texas LLC purchased a new stake in Tractor Supply in the 2nd quarter worth approximately $4,665,000. Hedge funds and other institutional investors own 98.72% of the company's stock.

Wall Street Analysts Forecast Growth

TSCO has been the topic of a number of research analyst reports. Robert W. Baird cut their target price on Tractor Supply from $63.00 to $56.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Guggenheim cut their price objective on Tractor Supply from $60.00 to $55.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Mizuho decreased their target price on Tractor Supply from $62.00 to $58.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Raymond James Financial cut their price target on shares of Tractor Supply from $61.00 to $57.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Finally, Stephens began coverage on shares of Tractor Supply in a research report on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 price target for the company. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $58.02.

About Tractor Supply

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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