Short Interest in Tractor Supply Company (TSCO) Decreases By 16.6%

Tractor Supply Company (NASDAQ:TSCO) was the recipient of a large decrease in short interest in 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. Based on an average trading volume of 2,003,509 shares, the short-interest ratio is currently 3.8 days. Approximately 6.1% of the company’s stock are sold short.

Hedge funds and other institutional investors have recently modified their holdings of the company. Global X MANAGEMENT CO LLC increased its holdings in shares of Tractor Supply by 191.7% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 1,785 shares of the specialty retailer’s stock valued at $113,000 after acquiring an additional 1,173 shares during the last quarter. Commonwealth Bank of Australia increased its holdings in shares of Tractor Supply by 15.4% during the 2nd quarter. Commonwealth Bank of Australia now owns 2,377 shares of the specialty retailer’s stock valued at $128,000 after acquiring an additional 317 shares during the last quarter. Penserra Capital Management LLC acquired a new position in shares of Tractor Supply during the 2nd quarter valued at about $139,000. Bristlecone Advisors LLC acquired a new position in shares of Tractor Supply during the 3rd quarter valued at about $173,000. Finally, Bronfman E.L. Rothschild L.P. grew its holdings in Tractor Supply by 33.2% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,325 shares of the specialty retailer’s stock valued at $180,000 after buying an additional 828 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Tractor Supply (TSCO) opened at $68.42 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.17 and a current ratio of 2.00. The company has a market capitalization of $8,590.00, a PE ratio of 20.30, a PEG ratio of 1.49 and a beta of 1.32. Tractor Supply has a fifty-two week low of $49.87 and a fifty-two week high of $78.25.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings data on Wednesday, October 25th. The specialty retailer reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.04. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.68 billion. Tractor Supply had a return on equity of 31.25% and a net margin of 6.04%. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.67 EPS. analysts expect that Tractor Supply will post 3.28 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 5th. Stockholders of record on Monday, November 20th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend was Friday, November 17th. Tractor Supply’s dividend payout ratio is 32.05%.

Several brokerages recently issued reports on TSCO. Piper Jaffray Companies reissued a “hold” rating and issued a $57.00 price objective on shares of Tractor Supply in a research note on Friday, September 29th. BMO Capital Markets upped their target price on Tractor Supply from $58.00 to $61.00 and gave the stock a “market perform” rating in a research report on Wednesday, September 27th. Zacks Investment Research raised Tractor Supply from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Robert W. Baird set a $62.00 target price on Tractor Supply and gave the stock a “buy” rating in a research report on Friday, August 25th. Finally, UBS lowered Tractor Supply from a “buy” rating to a “neutral” rating and upped their target price for the stock from $62.00 to $67.00 in a research report on Monday, October 2nd. Seventeen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Tractor Supply has an average rating of “Hold” and an average target price of $66.26.

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About Tractor Supply

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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