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 Tractor Supply stock in a transaction that occurred 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 sale, the senior vice president now directly owns 31,787 shares in the company, valued at approximately $1,833,792.03. The trade was a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Tractor Supply Price Performance

Shares of NASDAQ TSCO opened at $57.01 on Wednesday. Tractor Supply has a twelve month low of $48.30 and a twelve month high of $61.53. The firm has a market cap of $30.44 billion, a P/E ratio of 27.95, a PEG ratio of 2.95 and a beta of 0.84. The company has a 50 day moving average of $54.93 and a 200 day moving average of $55.62. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings data 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 return on equity of 49.01% and a net margin of 7.40%. As a group, research analysts expect that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th will be paid a dividend of $0.92 per share. The ex-dividend date is Wednesday, February 26th. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 dividend on an annualized basis and a yield of 6.46%. Tractor Supply’s payout ratio is currently 45.10%.

Tractor Supply announced that its Board of Directors has authorized a share repurchase plan on Thursday, February 13th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the specialty retailer to purchase up to 3.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Tractor Supply

Hedge funds have recently added to or reduced their stakes in the stock. First Personal Financial Services purchased a new stake in Tractor Supply during the 3rd quarter valued at $29,000. Providence Capital Advisors LLC purchased a new stake in Tractor Supply during the 3rd quarter valued at $32,000. Assetmark Inc. raised its stake in Tractor Supply by 2,383.3% during the 3rd quarter. Assetmark Inc. now owns 149 shares of the specialty retailer’s stock valued at $43,000 after buying an additional 143 shares during the last quarter. Larson Financial Group LLC raised its stake in Tractor Supply by 29.4% during the 3rd quarter. Larson Financial Group LLC now owns 286 shares of the specialty retailer’s stock valued at $83,000 after buying an additional 65 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in Tractor Supply during the 3rd quarter valued at $90,000. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TSCO has been the topic of several research reports. Guggenheim reaffirmed a “buy” rating and set a $60.00 price objective on shares of Tractor Supply in a research report on Friday, January 31st. Truist Financial cut their price objective on Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Telsey Advisory Group reaffirmed an “outperform” rating and set a $67.00 price objective on shares of Tractor Supply in a research report on Thursday, January 30th. Mizuho lifted their price objective on Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Finally, Evercore ISI raised Tractor Supply from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Tractor Supply presently has a consensus rating of “Moderate Buy” and an average target price of $59.22.

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.