Insider Selling: Tractor Supply (NASDAQ:TSCO) CFO Sells 12,146 Shares of Stock

Tractor Supply (NASDAQ:TSCO - Get Free Report) CFO Kurt D. Barton sold 12,146 shares of Tractor Supply stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $56.00, for a total transaction of $680,176.00. Following the sale, the chief financial officer now owns 47,715 shares in the company, valued at $2,672,040. This represents a 20.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Tractor Supply Price Performance

TSCO stock traded down $0.13 during trading on Tuesday, reaching $57.01. 1,111,912 shares of the company were exchanged, compared to its average volume of 5,480,718. Tractor Supply has a 52-week low of $46.76 and a 52-week high of $61.53. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. The company has a market cap of $30.44 billion, a P/E ratio of 27.95, a PEG ratio of 2.70 and a beta of 0.84. The stock's 50 day moving average price is $54.84 and its 200 day moving average price is $55.38.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share (EPS) 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%. As a group, analysts predict that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

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

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 issued a $0.92 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This is a boost 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 dividend payout ratio (DPR) is 43.14%.

Analysts Set New Price Targets

Several equities research analysts recently commented on TSCO shares. Wells Fargo & Company cut their price target on shares of Tractor Supply from $65.00 to $64.00 and set an "overweight" rating on the stock in a research note on Monday, November 25th. Bank of America lifted their price target on shares of Tractor Supply from $44.00 to $53.00 and gave the stock an "underperform" rating in a research note on Thursday, January 16th. Mizuho lifted their price target on shares of Tractor Supply from $60.00 to $62.00 and gave the stock an "outperform" rating in a research note on Thursday, January 23rd. Truist Financial cut their price target on shares of Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Finally, Telsey Advisory Group restated an "outperform" rating and issued a $67.00 price objective on shares of Tractor Supply in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $59.22.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. CWM LLC grew its position in shares of Tractor Supply by 2.6% in the third quarter. CWM LLC now owns 2,620 shares of the specialty retailer's stock valued at $762,000 after purchasing an additional 66 shares during the last quarter. Creative Planning grew its position in shares of Tractor Supply by 2.7% in the third quarter. Creative Planning now owns 32,004 shares of the specialty retailer's stock valued at $9,311,000 after purchasing an additional 842 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its position in shares of Tractor Supply by 14.6% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 13,042 shares of the specialty retailer's stock valued at $3,794,000 after purchasing an additional 1,662 shares during the last quarter. Good Life Advisors LLC grew its position in shares of Tractor Supply by 10.4% in the third quarter. Good Life Advisors LLC now owns 888 shares of the specialty retailer's stock valued at $258,000 after purchasing an additional 84 shares during the last quarter. Finally, LifeSteps Financial Inc. grew its position in shares of Tractor Supply by 6.8% in the third quarter. LifeSteps Financial Inc. now owns 1,025 shares of the specialty retailer's stock valued at $298,000 after purchasing an additional 65 shares during the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

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.