Tractor Supply Company (TSCO) Short Interest Update
Tractor Supply Company (NASDAQ:TSCO) was the target of a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 7,619,881 shares, a decrease of 16.6% from the November 15th total of 9,139,178 shares. Currently, 6.1% of the company’s stock are sold short. Based on an average trading volume of 2,003,509 shares, the days-to-cover ratio is currently 3.8 days.
A number of analysts have recently weighed in on TSCO shares. Robert W. Baird reaffirmed a “buy” rating and set a $66.00 price objective on shares of Tractor Supply in a research report on Wednesday, October 4th. Bank of America reaffirmed a “buy” rating and set a $69.00 price objective on shares of Tractor Supply in a research report on Tuesday, September 5th. Morgan Stanley upped their price objective on Tractor Supply from $53.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 16th. Oppenheimer reaffirmed a “hold” rating on shares of Tractor Supply in a research report on Thursday, October 26th. Finally, Loop Capital set a $55.00 target price on Tractor Supply and gave the company a “hold” rating in a report on Wednesday, October 25th. Seventeen analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $66.26.
Institutional investors and hedge funds have recently made changes to their positions in the company. Global X MANAGEMENT CO LLC boosted its stake in shares of Tractor Supply by 191.7% during the third quarter. Global X MANAGEMENT CO LLC now owns 1,785 shares of the specialty retailer’s stock worth $113,000 after buying an additional 1,173 shares during the period. Commonwealth Bank of Australia boosted its stake in shares of Tractor Supply by 15.4% during the second quarter. Commonwealth Bank of Australia now owns 2,377 shares of the specialty retailer’s stock worth $128,000 after buying an additional 317 shares during the period. Penserra Capital Management LLC acquired a new stake in shares of Tractor Supply during the second quarter worth about $139,000. Bristlecone Advisors LLC acquired a new stake in shares of Tractor Supply during the third quarter worth about $173,000. Finally, Bronfman E.L. Rothschild L.P. boosted its stake in shares of Tractor Supply by 33.2% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,325 shares of the specialty retailer’s stock worth $180,000 after buying an additional 828 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.
Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Wednesday, October 25th. The specialty retailer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.04. Tractor Supply had a net margin of 6.04% and a return on equity of 31.25%. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the firm posted $0.67 earnings per share. Tractor Supply’s revenue for the quarter was up 11.6% on a year-over-year basis. equities research analysts forecast that Tractor Supply will post 3.28 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 5th. Stockholders of record on Monday, November 20th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, November 17th. This represents a $1.08 annualized dividend and a dividend yield of 1.62%. Tractor Supply’s dividend payout ratio (DPR) is 32.05%.
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Tractor Supply Company Profile
Tractor Supply Company is an operator of rural lifestyle retail stores in the United States. The Company is focused on supplying the needs of recreational farmers and ranchers and others, as well as tradesmen and small businesses. It is engaged in the retail sale of products that support the rural lifestyle.
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