Tractor Supply (NASDAQ:TSCO) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Tractor Supply (NASDAQ:TSCO) have earned an average recommendation of “Moderate Buy” from the twenty-four ratings firms that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $253.54.

TSCO has been the topic of several recent analyst reports. Robert W. Baird raised their price objective on Tractor Supply from $260.00 to $285.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Truist Financial boosted their price target on shares of Tractor Supply from $277.00 to $289.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Guggenheim increased their price objective on shares of Tractor Supply from $210.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Stephens downgraded Tractor Supply from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $226.00 to $240.00 in a research note on Tuesday, January 23rd. Finally, The Goldman Sachs Group increased their price target on Tractor Supply from $230.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, February 2nd.

Tractor Supply Trading Up 1.1 %

NASDAQ:TSCO opened at $269.70 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.40 and a quick ratio of 0.19. Tractor Supply has a one year low of $185.00 and a one year high of $279.38. The company has a market cap of $29.11 billion, a PE ratio of 26.26, a PEG ratio of 3.41 and a beta of 0.82. The firm has a 50-day moving average of $257.31 and a 200-day moving average of $230.83.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings data on Thursday, April 25th. The specialty retailer reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.13. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.40 billion. During the same period in the previous year, the company posted $1.65 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, equities research analysts expect that Tractor Supply will post 10.3 EPS for the current fiscal year.

Tractor Supply Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 28th will be paid a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.63%. Tractor Supply’s dividend payout ratio is currently 42.84%.

Insider Activity

In other news, EVP Colin Yankee sold 8,675 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $250.00, for a total value of $2,168,750.00. Following the completion of the transaction, the executive vice president now directly owns 9,673 shares in the company, valued at $2,418,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Colin Yankee sold 8,675 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $250.00, for a total value of $2,168,750.00. Following the sale, the executive vice president now owns 9,673 shares in the company, valued at $2,418,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kurt D. Barton sold 401 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $232.06, for a total value of $93,056.06. Following the transaction, the chief financial officer now owns 25,013 shares of the company’s stock, valued at $5,804,516.78. The disclosure for this sale can be found here. Insiders have sold a total of 62,470 shares of company stock worth $14,773,121 over the last ninety days. Company insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On Tractor Supply

A number of institutional investors and hedge funds have recently bought and sold shares of TSCO. Wellington Management Group LLP lifted its holdings in shares of Tractor Supply by 9,370.6% during the 3rd quarter. Wellington Management Group LLP now owns 2,822,151 shares of the specialty retailer’s stock worth $573,038,000 after acquiring an additional 2,792,352 shares during the last quarter. Norges Bank bought a new stake in Tractor Supply during the fourth quarter worth about $260,560,000. Invesco Ltd. boosted its holdings in shares of Tractor Supply by 76.7% in the 3rd quarter. Invesco Ltd. now owns 2,024,182 shares of the specialty retailer’s stock worth $411,010,000 after purchasing an additional 878,874 shares in the last quarter. Capital World Investors increased its position in shares of Tractor Supply by 10.0% during the 4th quarter. Capital World Investors now owns 5,849,188 shares of the specialty retailer’s stock valued at $1,257,751,000 after purchasing an additional 531,170 shares during the last quarter. Finally, Capital International Investors raised its holdings in shares of Tractor Supply by 7.6% during the 4th quarter. Capital International Investors now owns 6,233,852 shares of the specialty retailer’s stock valued at $1,340,589,000 after buying an additional 439,954 shares in the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

About Tractor Supply

Tractor Supply Company operates as a rural lifestyle retailer in the United States. The company offers various merchandise, including livestock and equine feed and equipment, poultry, fencing, and sprayers and chemicals; food, treats, and equipment for dogs, cats, and other small animals, as well as dog wellness products; seasonal and recreation products comprising tractors and riders, lawn and garden, bird feeding, power equipment, and other recreational products; truck, tool, and hardware products, such as truck accessories, trailers, generators, lubricants, batteries, and hardware and tools; and clothing, gift, and décor products consist of clothing, footwear, toys, snacks, and decorative merchandise.