Tractor Supply Target of Unusually High Options Trading (TSCO)
Tractor Supply Company (NASDAQ:TSCO) saw unusually large options trading on Tuesday. Traders purchased 1,064 put options on the stock. This represents an increase of 787% compared to the typical volume of 120 put options.
Several institutional investors have recently modified their holdings of TSCO. BlackRock Inc. grew its position in shares of Tractor Supply by 2,934.4% during the first quarter. BlackRock Inc. now owns 7,835,590 shares of the specialty retailer’s stock valued at $540,419,000 after purchasing an additional 7,577,362 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Tractor Supply by 7,599.1% during the second quarter. Ameriprise Financial Inc. now owns 4,230,168 shares of the specialty retailer’s stock valued at $229,319,000 after purchasing an additional 4,175,224 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Tractor Supply by 531.0% during the second quarter. Janus Henderson Group PLC now owns 2,136,401 shares of the specialty retailer’s stock valued at $115,813,000 after purchasing an additional 1,797,802 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Tractor Supply during the first quarter valued at about $102,767,000. Finally, Morgan Stanley grew its position in shares of Tractor Supply by 214.1% during the first quarter. Morgan Stanley now owns 1,422,302 shares of the specialty retailer’s stock valued at $98,098,000 after purchasing an additional 969,544 shares in the last quarter. Hedge funds and other institutional investors own 92.27% of the company’s stock.
Shares of Tractor Supply (NASDAQ TSCO) opened at 62.49 on Friday. The company has a market cap of $7.92 billion, a PE ratio of 18.88 and a beta of 1.30. Tractor Supply has a 52 week low of $49.87 and a 52 week high of $78.25. The stock’s 50 day moving average price is $57.38 and its 200-day moving average price is $60.05.
Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings data on Wednesday, July 26th. The specialty retailer reported $1.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.27 by ($0.02). The firm had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Tractor Supply had a net margin of 6.16% and a return on equity of 30.56%. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.16 EPS. Analysts expect that Tractor Supply will post $3.25 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 6th. Stockholders of record on Monday, August 21st were given a dividend of $0.27 per share. The ex-dividend date was Thursday, August 17th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.73%. Tractor Supply’s payout ratio is 32.53%.
TSCO has been the topic of several recent analyst reports. Piper Jaffray Companies set a $55.00 price objective on Tractor Supply and gave the company a “hold” rating in a report on Tuesday, July 25th. BidaskClub upgraded Tractor Supply from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Robert W. Baird set a $62.00 price objective on Tractor Supply and gave the company a “buy” rating in a report on Friday, August 25th. BMO Capital Markets lifted their price objective on Tractor Supply from $57.00 to $58.00 and gave the company a “market perform” rating in a report on Friday, July 28th. Finally, Credit Suisse Group reiterated a “hold” rating and set a $54.00 price objective on shares of Tractor Supply in a report on Wednesday. Sixteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Tractor Supply currently has an average rating of “Hold” and a consensus price target of $71.38.
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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