Short Interest in Tractor Supply (NASDAQ:TSCO) Drops By 12.9%

Tractor Supply (NASDAQ:TSCO) saw a large decline in short interest in the month of June. As of June 15th, there was short interest totalling 6,480,000 shares, a decline of 12.9% from the May 31st total of 7,440,000 shares. Approximately 6.0% of the company’s shares are sold short. Based on an average trading volume of 1,090,000 shares, the days-to-cover ratio is presently 5.9 days.

Wall Street Analyst Weigh In

TSCO has been the topic of a number of research analyst reports. Mizuho restated a “neutral” rating and issued a $250.00 price target (up from $245.00) on shares of Tractor Supply in a report on Friday, April 26th. Morgan Stanley lifted their price target on shares of Tractor Supply from $195.00 to $235.00 and gave the company an “underweight” rating in a research note on Friday, April 26th. TD Cowen boosted their price target on Tractor Supply from $250.00 to $270.00 and gave the company a “buy” rating in a report on Friday, April 26th. Benchmark restated a “buy” rating and set a $256.00 price objective on shares of Tractor Supply in a report on Monday, April 22nd. Finally, Telsey Advisory Group increased their price target on Tractor Supply from $280.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Tractor Supply currently has a consensus rating of “Hold” and an average price target of $254.17.

Tractor Supply Trading Down 0.8 %

Shares of NASDAQ:TSCO opened at $267.74 on Tuesday. The company has a quick ratio of 0.19, a current ratio of 1.40 and a debt-to-equity ratio of 0.83. Tractor Supply has a 52-week low of $185.00 and a 52-week high of $290.38. The stock has a market cap of $28.87 billion, a price-to-earnings ratio of 26.07, a PEG ratio of 3.51 and a beta of 0.81. The business has a 50-day moving average price of $275.20 and a 200-day moving average price of $250.94.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.13. The company had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.40 billion. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. Tractor Supply’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the firm posted $1.65 EPS. Equities analysts predict that Tractor Supply will post 10.34 EPS for the current year.

Tractor Supply Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 28th were issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.64%. The ex-dividend date was Friday, May 24th. Tractor Supply’s payout ratio is 42.84%.

Hedge Funds Weigh In On Tractor Supply

A number of institutional investors have recently modified their holdings of the stock. Future Financial Wealth Managment LLC purchased a new position in Tractor Supply during the first quarter valued at approximately $26,000. Private Wealth Management Group LLC purchased a new position in shares of Tractor Supply during the 4th quarter valued at approximately $27,000. Pinnacle Bancorp Inc. acquired a new position in shares of Tractor Supply in the 4th quarter valued at $28,000. Rise Advisors LLC boosted its holdings in Tractor Supply by 157.1% during the first quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock worth $28,000 after buying an additional 66 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in Tractor Supply during the first quarter valued at $28,000. Hedge funds and other institutional investors own 98.72% of the company’s stock.

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.