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

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

Tractor Supply Trading Up 0.9 %

NASDAQ TSCO opened at $270.00 on Monday. The stock has a market capitalization of $29.11 billion, a P/E ratio of 26.29, a P/E/G ratio of 3.51 and a beta of 0.81. Tractor Supply has a 52-week low of $185.00 and a 52-week high of $290.38. The firm has a 50-day moving average price of $274.91 and a 200 day moving average price of $250.63. 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 (NASDAQ:TSCO) last issued its earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.13. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The company had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same period in the prior year, the business posted $1.65 earnings per share. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. Equities research analysts expect that Tractor Supply will post 10.34 EPS for the current year.

Tractor Supply Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 28th were paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date was Friday, May 24th. Tractor Supply’s dividend payout ratio is presently 42.84%.

Hedge Funds Weigh In On Tractor Supply

Hedge funds have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. bought a new position in Tractor Supply in the 3rd quarter worth about $407,000. O Shaughnessy Asset Management LLC grew its position in Tractor Supply by 72.0% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 6,942 shares of the specialty retailer’s stock worth $1,410,000 after purchasing an additional 2,907 shares during the last quarter. Bank of Nova Scotia grew its position in Tractor Supply by 13.0% in the 3rd quarter. Bank of Nova Scotia now owns 12,133 shares of the specialty retailer’s stock worth $2,464,000 after purchasing an additional 1,395 shares during the last quarter. Toronto Dominion Bank grew its position in Tractor Supply by 1.5% in the 3rd quarter. Toronto Dominion Bank now owns 55,824 shares of the specialty retailer’s stock worth $11,335,000 after purchasing an additional 830 shares during the last quarter. Finally, Sherbrooke Park Advisers LLC bought a new position in Tractor Supply during the third quarter worth about $425,000. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Analyst Ratings Changes

TSCO has been the topic of several recent research reports. Telsey Advisory Group increased their target price on Tractor Supply from $280.00 to $305.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Morgan Stanley increased their target price on Tractor Supply from $195.00 to $235.00 and gave the company an “underweight” rating in a research report on Friday, April 26th. Truist Financial increased their target price on Tractor Supply from $277.00 to $289.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Piper Sandler increased their target price on Tractor Supply from $265.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. Finally, TD Cowen increased their target price on Tractor Supply from $250.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Tractor Supply has a consensus rating of “Hold” and a consensus price target of $254.17.

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.