Director Bets $100K on TSCO After Three Straight Misses
A Tractor Supply director spent $100,264 buying shares in the open market on August 3 — two weeks after the company reported its steepest EPS miss in a year and lowered its full-year outlook. The purc
Director Bets $100K on TSCO After Three Straight Misses
NEW YORK, August 5 —
Tractor Supply Company (TSCO) reported $0.69 per share on July 23 against an $0.82 consensus estimate, its steepest miss in four quarters, then cut full-year guidance. Two weeks later, director Andre J Hawaux bought 3,150 shares at $31.83 in the open market on August 3. Analysts turned cautious after the print; short sellers have not backed down.
- Q2 EPS of $0.69 missed the $0.82 consensus by 15.8%, the largest miss in the trailing four-quarter period.
- Director Hawaux bought 3,150 shares at $31.83 on August 3 for $100,264; sole open-market insider buy in the prior 90 days.
- TSCO trades at 16.2x forward earnings; $6.54 billion in total debt, $103 million trailing free cash flow.
A Miss Pattern That Keeps Getting Worse
TSCO's earnings trajectory has moved in one direction for three consecutive quarters. Four quarters ago, the company beat the $0.48 consensus by a penny. Since then, every quarter has been a miss, and each has been larger: 6.5%, then 8.9%, then 15.8% in Q2, when $0.69 actual fell against an $0.82 estimate. The accompanying 8-K filing dated July 23 confirmed a guidance cut, signaling the pressure has not cleared. Tractor Supply sells livestock feed, pet food under the 4health label, and seasonal lawn and garden products under banners including Tractor Supply Company, Petsense by Tractor Supply, and Orscheln Farm and Home, serving recreational farmers and rural consumers, not commercial operators.
A Lone Director Takes the Other Side
Against that backdrop, director Hawaux committed $100,264 to an open-market purchase on August 3, two weeks after the earnings report. Every other Form 4 in the trailing 90-day period reflects director grants and stock awards, not cash purchases. The signal sits against 6.5% short interest in TSCO, indicating significant institutional bearish positioning on the opposite side. The debt picture adds context: $6.54 billion in total debt against $0.23 billion in cash, with trailing free cash flow of $103 million.
| Ticker | Mkt cap | Fwd P/E | 52-wk |
|---|---|---|---|
| TSCO | $17.5B | 16.2x | -46.7% |
| ORLY | $76.3B | 25.6x | -14.1% |
| ROST | $81.1B | 29.5x | +72.6% |
| ULTA | $23.1B | 16.9x | +3.5% |
| ODFL | $44.4B | 32.3x | +41.1% |
| DG | $28.1B | 15.9x | +12.7% |
The Next Print Is the Test
The next quarterly report is the nearest checkpoint. The analyst consensus price target of $35.52 sits above the current $33.23 per share, with TSCO trading at a 16.2x forward multiple, but short sellers have not covered. Another guidance cut alongside the next earnings print would confirm the miss pattern has not stabilized; a free cash flow recovery toward the operating cash flow level would signal the capital spending cycle is easing. Run the free Tractor Supply Company deep-dive →, or stress-test the balance sheet with the DCF calculator.
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A Tractor Supply director spent $100,264 buying shares in the open market on August 3 — two weeks after the company reported its steepest EPS miss in a year and lowered its full-year outlook. The purchase lands as analysts turn cautious and short sellers hold 6.5% of the float, leaving the market split on whether the sell-off has run its course.