Just so this doesn't blind side anyone...got this off of Edgar Online.
Issuers Name: TRACTOR SUPPLY CO Ticker Symbol: TSCO Seller: THOMAS O FLOOD Address: 320 PARK PLUS BLVD Address: NASHVILLE TN 37217 Phone: 615 366-4600 Filing Date: Mar 13 2002 Shares to be Sold: 72,000.00 Value: 2,736,000.00 Broker: MSDW
No I am not diversified. The bulk of my funds are in CNXS and TSCO. I hold a similar amount in terms of cash in CNXS as well with an average cost of $5/share. I do not plan to sell TSCO. Not as long as they continue to follow the plan they've set forth and execute it in a way I feel comfortable with. Of course that could all change and one must be vigilant. The story here has tremendous potential. Do not set a price target and hold it forever, or until the story changes and you feel uncomfortable with your holdings. I do not believe in setting price targets but I do like to get an idea as to what the company could do. They expect to do 1.1 billion in sales this year. Give them one year of integration and by 2003 they'll do at least 3% net on that 1.1 billion (the sales number will be higher but let us use 02 sales figures.) That will be 3.6/share in earnings given a pe of 25 that puts us at over $90/share. Now, the PE will expand and earnings and sales will actually be higher than that in 03 but it is a good example of the opportunity. What until the multiple expands:) Then you'll see strength!
10000 shares @ $44? Wowie, thats $440,000 in one stock. Are you diversified in others and I wood like to know which ones? I do not know any BIG investors so (1) will you sell off TSCO peicemeal (2) waht is your target price? ps-i am just back here & catching up on reading and if you allready answerd this nevermind please. Cannot beleive this stock strngth!!!!
I wouldn't worry about the insider selling. Flood is a director and holds over 5% of the company's common stock. No doubt he wants to take a bit out and diversify or buy a new home, etc. He stills owns a few million shares I believe, I'll look. As the stock continues to rise more and more will sell...