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

Tractor Supply (NASDAQ:TSCO)’s share price gapped down prior to trading 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.

Analyst Ratings Changes

Several equities research analysts recently issued reports on TSCO shares. Citigroup downgraded Tractor Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $335.00 price objective on shares of Tractor Supply in a research report on Thursday. Wells Fargo & Company upped their target price on Tractor Supply from $295.00 to $325.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Robert W. Baird set a $320.00 price objective on Tractor Supply in a research report on Thursday, October 17th. Finally, Benchmark reissued a “buy” rating and set a $280.00 target price on shares of Tractor Supply in a research note on Monday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $272.50.

Tractor Supply Trading Down 5.7 %

The company’s fifty day moving average price is $281.82 and its two-hundred day moving average price is $272.88. The company has a quick ratio of 0.25, a current ratio of 1.43 and a debt-to-equity ratio of 0.76. The company has a market cap of $29.72 billion, a price-to-earnings ratio of 26.57, a price-to-earnings-growth ratio of 3.66 and a beta of 0.80.

Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $3.93. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. The firm had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.28 billion. During the same quarter last year, the business earned $3.83 earnings per share. The company’s revenue was up 1.6% compared to the same quarter last year. Research analysts expect that Tractor Supply will post 10.23 earnings per share for the current year.

Tractor Supply Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date was Monday, August 26th. Tractor Supply’s dividend 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 stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $262.35, for a total transaction of $141,669.00. Following the sale, the senior vice president now directly owns 5,170 shares in the company, valued at $1,356,349.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, SVP Matthew L. Rubin sold 540 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $262.35, for a total transaction 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 sale 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 Tractor Supply stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $295.64, for a total value of $6,957,000.48. Following the transaction, the chief financial officer now directly owns 9,683 shares in the company, valued at approximately $2,862,682.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.24% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tractor Supply

Institutional investors and hedge funds have recently bought and sold shares of the stock. Future Financial Wealth Managment LLC purchased a new stake in Tractor Supply in the first quarter worth about $26,000. LRI Investments LLC bought a new stake in Tractor Supply during the 1st quarter valued at approximately $28,000. J.Safra Asset Management Corp grew its stake in Tractor Supply by 700.0% during the first quarter. J.Safra Asset Management Corp now owns 112 shares of the specialty retailer’s stock valued at $29,000 after acquiring an additional 98 shares in the last quarter. Whittier Trust Co. lifted its position in shares of Tractor Supply by 60.9% in the second quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock worth $30,000 after buying an additional 42 shares in the last quarter. Finally, OFI Invest Asset Management purchased a new stake in shares of Tractor Supply during the 2nd quarter worth approximately $33,000. 98.72% of the stock is currently owned by institutional investors.

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.