Jonathan S. Estep Sells 56,630 Shares of Tractor Supply Company (NASDAQ:TSCO) Stock

Tractor Supply Company (NASDAQ:TSCO) EVP Jonathan S. Estep sold 56,630 shares of the firm’s stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $53.00, for a total value of $3,001,390.00. Following the sale, the executive vice president now directly owns 74,605 shares of the company’s stock, valued at approximately $3,954,065. This represents a 43.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Tractor Supply Stock Performance

Shares of TSCO opened at $52.80 on Thursday. Tractor Supply Company has a 52-week low of $46.85 and a 52-week high of $61.53. The stock’s 50-day simple moving average is $50.86 and its 200 day simple moving average is $53.11. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.17 and a current ratio of 1.41. The stock has a market capitalization of $27.99 billion, a price-to-earnings ratio of 26.22, a price-to-earnings-growth ratio of 2.88 and a beta of 0.74.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). Tractor Supply had a net margin of 7.24% and a return on equity of 47.56%. The company had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter in the prior year, the company earned $1.83 earnings per share. The company’s quarterly revenue was up 2.1% on a year-over-year basis. Research analysts forecast that Tractor Supply Company will post 2.17 EPS for the current fiscal year.

Tractor Supply Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date was Wednesday, May 28th. Tractor Supply’s dividend payout ratio (DPR) is presently 45.77%.

Analysts Set New Price Targets

A number of analysts recently issued reports on TSCO shares. Citigroup decreased their price objective on shares of Tractor Supply from $59.00 to $51.00 and set a “neutral” rating for the company in a report on Friday, April 25th. JPMorgan Chase & Co. decreased their price target on shares of Tractor Supply from $59.00 to $56.00 and set a “neutral” rating for the company in a research note on Monday, April 28th. Robert W. Baird lowered their price target on shares of Tractor Supply from $63.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Raymond James Financial reduced their price objective on Tractor Supply from $61.00 to $57.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Finally, Guggenheim decreased their target price on Tractor Supply from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $58.02.

Institutional Trading of Tractor Supply

Several institutional investors and hedge funds have recently bought and sold shares of TSCO. Vanguard Group Inc. increased its holdings in shares of Tractor Supply by 4.1% in the first quarter. Vanguard Group Inc. now owns 66,631,422 shares of the specialty retailer’s stock worth $3,671,391,000 after purchasing an additional 2,597,450 shares during the period. Wellington Management Group LLP grew its position in Tractor Supply by 16.0% during the first quarter. Wellington Management Group LLP now owns 27,604,769 shares of the specialty retailer’s stock worth $1,521,023,000 after buying an additional 3,815,520 shares in the last quarter. Alliancebernstein L.P. increased its stake in Tractor Supply by 10.8% in the 1st quarter. Alliancebernstein L.P. now owns 24,664,907 shares of the specialty retailer’s stock worth $1,359,036,000 after acquiring an additional 2,408,373 shares during the last quarter. Capital World Investors increased its stake in Tractor Supply by 403.7% in the 4th quarter. Capital World Investors now owns 19,433,135 shares of the specialty retailer’s stock worth $1,031,122,000 after acquiring an additional 15,575,311 shares during the last quarter. Finally, Capital International Investors raised its holdings in shares of Tractor Supply by 334.7% in the 4th quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer’s stock valued at $818,421,000 after acquiring an additional 11,880,010 shares in the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

About Tractor Supply

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.