The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Tractor Supply Company shares valued at $2,731,139 were sold by Estep Jonathan S on May 17. At $226.20 per share, Estep Jonathan S sold 12,074 shares. The insider’s holdings dropped to 7,972 shares worth approximately $1.74 million following the completion of this transaction.
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Also, Estep Jonathan S sold 164 shares, netting a total of over 37,097 in proceeds. Following the sale of shares at $226.20 each, the insider now holds 63 shares.
Before that, Barton Kurt D had sold 9,091 shares from its account. In a trade valued at $2,066,839, the EVP Chief Financial Officer traded Tractor Supply Company shares for $227.35 each. Upon closing the transaction, the insider’s holdings decreased to 9,091 shares, worth approximately $5.91 million.
Analyzing TSCO Stock Performance
On Wednesday, Tractor Supply Company [NASDAQ: TSCO] plunged -0.02% to $218.49. The stock’s lowest price that day was $216.62, but it reached a high of $221.16 in the same session. During the last five days, there has been a drop of approximately -2.85%. Over the course of the year, Tractor Supply Company shares have dropped approximately -2.88%. Shares of the company reached a 52-week high of $251.17 on 04/21/23 and a 52-week low of $206.23 on 01/20/23. A 50-day SMA is recorded $235.88, while a 200-day SMA reached $218.21. Nevertheless, trading volume fell to 1.11 million shares from 1.21 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 216.35, which, if violated, would cause prices to drop to 214.22. In the upper region, resistance lies at 220.89. The next price resistance is at 223.30. RSI (Relative Strength Index) is 31.59 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -11.90, which suggests the price will decrease in the coming days. Percent R is at 93.51%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Tractor Supply Company subject to short interest?
Stocks of Tractor Supply Company saw a sharp rise in short interest on Apr 27, 2023 jumping by 0.45 million shares to 4.9 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2023 was 4.45 million shares. A jump of 9.18% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.4 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.4.
Which companies own the most shares of Tractor Supply Company (TSCO)?
According to The Vanguard Group, Inc. filings, the company currently owns 12,453,217 shares, which is about 11.31% of the total TSCO shares outstanding. The investor’s shares have plunged by -71,234 from its previous 13-F filing of 12524451.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $1,417,833,221. SSgA Funds Management, Inc. acquire a 0.77% interest valued at $1.06 billion while AllianceBernstein LP purchased a 892,478 stake. A total of 138,258 shares of Tractor Supply Company were bought by Geode Capital Management LLC during the quarter, and 1,872,790 by Capital Research & Management Co. In its current portfolio, Select Equity Group LP holds 1,697,210 shares valued at $404.61 million.
In terms of Tractor Supply Company share price expectations, FactSet research, analysts set an average price target of $256.55 in the next 12 months, up nearly 18.97% from the previous closing price of $218.54. Analysts anticipate Tractor Supply Company stock to reach $280.00 by 2023, with the lowest price target being $224.00. In spite of this, 33 analysts ranked Tractor Supply Company stock as an Overweight at the end of 2023.