A company insider recently sold 1,700 shares of Tractor Supply Company [TSCO]. Should You Sale?

CHWY Stock
CHWY Stock

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Tractor Supply Company shares valued at $403,867 were sold by Kersey Melissa on Feb 16. At $237.57 per share, Kersey Melissa sold 1,700 shares. The insider’s holdings dropped to 8,051 shares worth approximately $1.82 million following the completion of this transaction.

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Also, Ellison Noni L sold 2,325 shares, netting a total of over 555,811 in proceeds. Following the sale of shares at $239.06 each, the insider now holds 1,787 shares.

Before that, Rubin Matthew L. had sold 2,001 shares from its account. In a trade valued at $474,255, the SVP Petsense GM traded Tractor Supply Company shares for $237.01 each. Upon closing the transaction, the insider’s holdings decreased to 2,001 shares, worth approximately $0.83 million.

As published in their initiating research note from Cowen on February 16, 2023, Tractor Supply Company [TSCO] has been a Market perform and the price target has been revised to $245. This represents a 7.85% premium over Wednesday’s closing price. Analysts at Gordon Haskett upgraded the stock from ‘”a Accumulate”‘ to ‘”a Buy”‘ outlook in a report released in early February. As of February 08, 2023, Barclays has initiated its “an Overweight” rating for TSCO. Earlier on January 12, 2023, Exane BNP Paribas upgraded its rating. Their new recommendation was “an Outperform” for TSCO stock which previously was a “a Neutral”.

Analyzing TSCO Stock Performance

On Wednesday, Tractor Supply Company [NASDAQ: TSCO] plunged -3.22% to $225.76. The stock’s lowest price that day was $224.86, but it reached a high of $231.34 in the same session. During the last five days, there has been a drop of approximately -3.03%. Over the course of the year, Tractor Supply Company shares have jumped approximately 0.35%. Shares of the company reached a 52-week high of $239.66 on 02/15/23 and a 52-week low of $206.23 on 01/20/23. A 50-day SMA is recorded $224.55, while a 200-day SMA reached $206.28. Nevertheless, trading volume fell to 1.32 million shares from 0.68 million shares the previous day.

Support And Resistance Levels for Tractor Supply Company (TSCO)

According to the 24-hour chart, there is a support level at 223.30, which, if violated, would cause prices to drop to 220.84. In the upper region, resistance lies at 229.78. The next price resistance is at 233.80. RSI (Relative Strength Index) is 44.06 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.23, which suggests the price will decrease in the coming days. Percent R is at 93.92%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Tractor Supply Company subject to short interest?

Stocks of Tractor Supply Company saw a sharp steep in short interest on Jan 12, 2023 dropping by -0.28 million shares to 4.08 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 4.36 million shares. A decline of -6.86% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.02 of the overall float, the days-to-cover ratio (short ratio) decline to 4.02.

Which companies own the most shares of Tractor Supply Company (TSCO)?

According to The Vanguard Group, Inc. filings, the company currently owns 12,524,451 shares, which is about 11.34% of the total TSCO shares outstanding. The investor’s shares have appreciated by 90,797 from its previous 13-F filing of 12433654.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $1,371,138,244. SSgA Funds Management, Inc. reduced a -3.41% interest valued at $1.01 billion while Geode Capital Management LLC purchased a 71,025 stake. A total of -30,306 shares of Tractor Supply Company were bought by Select Equity Group LP during the quarter, and 985,799 were bought by AllianceBernstein LP. In its current portfolio, JPMorgan Investment Management, I holds 1,574,897 shares valued at $359.06 million.

In terms of Tractor Supply Company share price expectations, FactSet research, analysts set an average price target of $246.39 in the next 12 months, up nearly 7.18% from the previous closing price of $233.26. Analysts anticipate Tractor Supply Company stock to reach $273.00 by 2023, with the lowest price target being $210.00. In spite of this, 36 analysts ranked Tractor Supply Company stock as an Overweight at the end of 2023. On December 20, 2022, Credit Suisse assigned a price target of “an Outperform” to the stock and initiated coverage with a $260.


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