Tractor Supply (NASDAQ:TSCO) Short Interest Up 460.5% in December

Tractor Supply (NASDAQ:TSCO - Get Free Report) saw a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 31,890,000 shares, a growth of 460.5% from the November 30th total of 5,690,000 shares. Based on an average daily volume of 5,110,000 shares, the short-interest ratio is presently 6.2 days.

Wall Street Analyst Weigh In

TSCO has been the topic of a number of research reports. Truist Financial dropped their price objective on Tractor Supply from $65.00 to $63.40 and set a "buy" rating on the stock in a research note on Friday, October 25th. Wells Fargo & Company cut their price target on shares of Tractor Supply from $65.00 to $64.00 and set an "overweight" rating for the company in a report on Monday, November 25th. Citigroup cut shares of Tractor Supply from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 17th. Evercore ISI raised shares of Tractor Supply from a "hold" rating to a "strong-buy" rating in a research note on Friday, November 15th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Tractor Supply from $52.00 to $58.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $57.98.

Tractor Supply Stock Up 1.8 %

Shares of NASDAQ:TSCO traded up $1.00 during midday trading on Thursday, hitting $55.49. 3,416,465 shares of the stock were exchanged, compared to its average volume of 5,266,124. The company has a market capitalization of $29.64 billion, a PE ratio of 5.40, a P/E/G ratio of 3.58 and a beta of 0.83. Tractor Supply has a 52-week low of $41.80 and a 52-week high of $61.53. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.17 and a current ratio of 1.48. The business's fifty day simple moving average is $55.79 and its two-hundred day simple moving average is $55.19.

Tractor Supply Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Monday, November 25th. Tractor Supply's dividend payout ratio (DPR) is presently 42.72%.

Insider Activity

In other Tractor Supply news, CFO Kurt D. Barton sold 117,660 shares of the company's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $59.13, for a total value of $6,957,000.48. Following the completion of the sale, the chief financial officer now directly owns 48,415 shares in the company, valued at $2,862,682.12. This represents a 70.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.58% of the company's stock.

Institutional Trading of Tractor Supply

A number of institutional investors have recently added to or reduced their stakes in the business. HB Wealth Management LLC lifted its holdings in Tractor Supply by 15.4% in the 2nd quarter. HB Wealth Management LLC now owns 2,031 shares of the specialty retailer's stock worth $548,000 after purchasing an additional 271 shares during the last quarter. Whittier Trust Co. raised its position in shares of Tractor Supply by 60.9% during the second quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer's stock valued at $30,000 after buying an additional 42 shares during the last quarter. TrueMark Investments LLC bought a new stake in shares of Tractor Supply in the second quarter valued at about $386,000. Principal Financial Group Inc. lifted its stake in shares of Tractor Supply by 5.6% in the second quarter. Principal Financial Group Inc. now owns 368,161 shares of the specialty retailer's stock valued at $99,403,000 after buying an additional 19,393 shares during the period. Finally, Crossmark Global Holdings Inc. grew its position in Tractor Supply by 2.2% during the second quarter. Crossmark Global Holdings Inc. now owns 8,189 shares of the specialty retailer's stock worth $2,212,000 after buying an additional 176 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

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.