Harry Lawton III Sells 84,670 Shares of Tractor Supply (NASDAQ:TSCO) Stock

Tractor Supply Company (NASDAQ:TSCO) CEO Harry Lawton III sold 84,670 shares of Tractor Supply stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $53.16, for a total value of $4,501,057.20. Following the completion of the sale, the chief executive officer directly owned 606,842 shares of the company’s stock, valued at $32,259,720.72. The trade was a 12.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Tractor Supply Stock Performance

Shares of Tractor Supply stock opened at $55.61 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.34 and a quick ratio of 0.16. The stock has a market capitalization of $29.38 billion, a price-to-earnings ratio of 26.86, a price-to-earnings-growth ratio of 2.73 and a beta of 0.74. The business has a 50-day moving average of $52.31 and a 200 day moving average of $55.60. Tractor Supply Company has a 12 month low of $46.85 and a 12 month high of $63.99.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data on Thursday, January 29th. The specialty retailer reported $0.43 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.03). Tractor Supply had a net margin of 7.06% and a return on equity of 44.36%. The business had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same period in the previous year, the business posted $0.44 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Tractor Supply Company will post 2.17 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TSCO. Bison Wealth LLC boosted its holdings in shares of Tractor Supply by 356.1% in the fourth quarter. Bison Wealth LLC now owns 6,426 shares of the specialty retailer’s stock valued at $341,000 after acquiring an additional 5,017 shares during the period. Woodline Partners LP increased its holdings in shares of Tractor Supply by 40.7% in the 1st quarter. Woodline Partners LP now owns 45,132 shares of the specialty retailer’s stock valued at $2,487,000 after acquiring an additional 13,051 shares during the period. Intech Investment Management LLC raised its position in Tractor Supply by 26.9% in the 1st quarter. Intech Investment Management LLC now owns 26,162 shares of the specialty retailer’s stock valued at $1,442,000 after purchasing an additional 5,542 shares during the last quarter. DAVENPORT & Co LLC boosted its stake in shares of Tractor Supply by 3.1% during the second quarter. DAVENPORT & Co LLC now owns 18,423 shares of the specialty retailer’s stock worth $972,000 after buying an additional 553 shares during the period. Finally, Belpointe Asset Management LLC raised its stake in Tractor Supply by 9.6% during the 2nd quarter. Belpointe Asset Management LLC now owns 4,934 shares of the specialty retailer’s stock valued at $260,000 after acquiring an additional 432 shares during the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Wall Street Analysts Forecast Growth

TSCO has been the subject of several analyst reports. Guggenheim reissued a “buy” rating and set a $65.00 target price on shares of Tractor Supply in a research note on Thursday, January 22nd. Wells Fargo & Company reissued an “overweight” rating and set a $65.00 price objective on shares of Tractor Supply in a research report on Thursday, October 23rd. Piper Sandler cut their target price on shares of Tractor Supply from $67.00 to $59.00 and set an “overweight” rating on the stock in a research note on Friday, January 30th. Jefferies Financial Group decreased their price target on shares of Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Finally, Mizuho dropped their price objective on shares of Tractor Supply from $65.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, January 30th. Fifteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.78.

About Tractor Supply

Tractor Supply Company (NASDAQ: TSCO) is a specialty retailer focused on products for the home, farm, ranch and outdoors. The company operates a network of physical retail locations complemented by an e-commerce platform, offering a one-stop source of supplies and equipment for customers with rural and suburban lifestyles. Its merchandise assortment targets a range of needs, from animal and livestock care to maintenance, outdoor power equipment, and seasonal products.

Product categories include animal feed and supplies, pet products, fencing and fencing supplies, equine equipment, lawn and garden tools, work clothing and footwear, and small agricultural and outdoor power equipment.