Tractor Supply (NASDAQ:TSCO) Shares Gap Down – Here’s What Happened

Shares of Tractor Supply (NASDAQ:TSCO) gapped down before the market opened on Thursday . The stock had previously closed at $292.09, but opened at $283.52. Tractor Supply shares last traded at $282.83, with a volume of 211,432 shares trading hands.

Analysts Set New Price Targets

Several research firms have weighed in on TSCO. Telsey Advisory Group reissued an “outperform” rating and set a $335.00 target price on shares of Tractor Supply in a research report on Thursday. Robert W. Baird set a $320.00 target price on Tractor Supply in a research report on Thursday, October 17th. Loop Capital boosted their target price on shares of Tractor Supply from $250.00 to $260.00 and gave the stock a “hold” rating in a research note on Friday, September 6th. Evercore ISI lowered Tractor Supply from an “outperform” rating to an “in-line” rating and set a $300.00 price target on the stock. in a research note on Thursday, October 3rd. Finally, Wedbush reaffirmed a “neutral” rating and issued a $270.00 price target on shares of Tractor Supply in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, eight have given 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, Tractor Supply has a consensus rating of “Moderate Buy” and a consensus price target of $272.50.

Tractor Supply Stock Down 5.7 %

The company has a current ratio of 1.43, a quick ratio of 0.25 and a debt-to-equity ratio of 0.76. The stock has a market cap of $29.72 billion, a P/E ratio of 26.57, a PEG ratio of 3.66 and a beta of 0.80. The firm has a 50-day simple moving average of $281.82 and a two-hundred day simple moving average of $272.88.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share for the quarter, meeting the consensus estimate of $3.93. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. The business had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same period last year, the firm posted $3.83 earnings per share. Tractor Supply’s revenue was up 1.6% compared to the same quarter last year. Equities research analysts expect that Tractor Supply will post 10.23 earnings per share for the current fiscal year.

Tractor Supply Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were issued a $1.10 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $4.40 dividend on an annualized basis and a yield of 1.60%. Tractor Supply’s payout ratio is currently 42.43%.

Insider Activity at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 540 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $262.35, for a total transaction of $141,669.00. Following the completion of the sale, the senior vice president now directly owns 5,170 shares of the company’s stock, valued at approximately $1,356,349.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, SVP Matthew L. Rubin sold 540 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $262.35, for a total value of $141,669.00. Following the transaction, the senior vice president now owns 5,170 shares in the company, valued at approximately $1,356,349.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kurt D. Barton sold 23,532 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total value of $6,957,000.48. Following the sale, the chief financial officer now owns 9,683 shares in the company, valued at approximately $2,862,682.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by corporate insiders.

Institutional Trading of Tractor Supply

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bristlecone Advisors LLC purchased a new position in Tractor Supply in the 3rd quarter worth approximately $215,000. GHP Investment Advisors Inc. boosted its holdings in Tractor Supply by 2.1% in the 3rd quarter. GHP Investment Advisors Inc. now owns 26,559 shares of the specialty retailer’s stock worth $7,727,000 after buying an additional 552 shares during the period. Arkadios Wealth Advisors boosted its holdings in shares of Tractor Supply by 108.1% during the 3rd quarter. Arkadios Wealth Advisors now owns 1,779 shares of the specialty retailer’s stock valued at $518,000 after purchasing an additional 924 shares during the last quarter. Forsta AP Fonden boosted its holdings in shares of Tractor Supply by 13.7% during the 3rd quarter. Forsta AP Fonden now owns 24,100 shares of the specialty retailer’s stock valued at $7,011,000 after purchasing an additional 2,900 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Tractor Supply by 21.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,417 shares of the specialty retailer’s stock valued at $2,695,000 after buying an additional 1,685 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.