Tractor Supply (NASDAQ:TSCO) Downgraded by Wall Street Zen to Sell

Wall Street Zen lowered shares of Tractor Supply (NASDAQ:TSCO) from a hold rating to a sell rating in a research report report published on Saturday.

Several other research analysts have also commented on the stock. Stephens set a $53.00 price objective on shares of Tractor Supply and gave the company an “equal weight” rating in a research note on Thursday, January 22nd. Telsey Advisory Group decreased their price target on shares of Tractor Supply from $70.00 to $63.00 and set an “outperform” rating for the company in a research report on Thursday, January 29th. Gordon Haskett downgraded shares of Tractor Supply from an “accumulate” rating to a “hold” rating and dropped their price target for the stock from $57.00 to $50.00 in a research note on Thursday, January 8th. Evercore reiterated an “outperform” rating and issued a $60.00 price objective on shares of Tractor Supply in a research note on Friday, January 30th. Finally, Robert W. Baird lifted their target price on Tractor Supply from $65.00 to $67.00 and gave the company an “outperform” rating in a report on Friday, October 24th. Fifteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tractor Supply presently has an average rating of “Moderate Buy” and a consensus price target of $59.78.

Tractor Supply Stock Up 1.9%

NASDAQ:TSCO opened at $52.96 on Friday. Tractor Supply has a 52 week low of $46.85 and a 52 week high of $63.99. The stock’s fifty day moving average is $52.41 and its two-hundred day moving average is $55.23. The stock has a market capitalization of $27.98 billion, a price-to-earnings ratio of 25.58, a price-to-earnings-growth ratio of 2.65 and a beta of 0.74. The company has a quick ratio of 0.16, a current ratio of 1.34 and a debt-to-equity ratio of 0.70.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data on Thursday, January 29th. The specialty retailer reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.03). Tractor Supply had a net margin of 7.06% and a return on equity of 44.36%. The firm had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter in the prior year, the firm posted $0.44 EPS. Tractor Supply’s quarterly revenue was up 3.3% compared to the same quarter last year. Research analysts anticipate that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, February 24th. This represents a $0.96 annualized dividend and a dividend yield of 1.8%. This is an increase from Tractor Supply’s previous quarterly dividend of $0.23. Tractor Supply’s payout ratio is currently 46.38%.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, CEO Harry A. Lawton III sold 84,670 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $53.16, for a total transaction of $4,501,057.20. Following the sale, the chief executive officer owned 606,842 shares of the company’s stock, valued at approximately $32,259,720.72. This trade represents a 12.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jonathan S. Estep sold 59,745 shares of the company’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $54.03, for a total transaction of $3,228,022.35. Following the completion of the transaction, the executive vice president owned 80,931 shares of the company’s stock, valued at approximately $4,372,701.93. The trade was a 42.47% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 222,348 shares of company stock worth $11,959,621. 0.65% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tractor Supply

Institutional investors and hedge funds have recently bought and sold shares of the stock. Buckhead Capital Management LLC increased its stake in Tractor Supply by 310.3% in the third quarter. Buckhead Capital Management LLC now owns 36,863 shares of the specialty retailer’s stock valued at $2,096,000 after purchasing an additional 27,878 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Tractor Supply by 6.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 130,035 shares of the specialty retailer’s stock worth $6,862,000 after buying an additional 7,871 shares during the period. Thrivent Financial for Lutherans grew its holdings in shares of Tractor Supply by 45.2% during the second quarter. Thrivent Financial for Lutherans now owns 149,323 shares of the specialty retailer’s stock worth $7,880,000 after buying an additional 46,471 shares during the last quarter. Bison Wealth LLC grew its holdings in shares of Tractor Supply by 356.1% during the fourth quarter. Bison Wealth LLC now owns 6,426 shares of the specialty retailer’s stock worth $341,000 after buying an additional 5,017 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its position in Tractor Supply by 11.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 564,921 shares of the specialty retailer’s stock valued at $31,932,000 after acquiring an additional 59,151 shares during the period. 98.72% of the stock is owned by hedge funds and other institutional investors.

About Tractor Supply

Tractor Supply Company (NASDAQ: TSCO) is a specialty retailer focused on products for the home, farm, ranch and outdoors. The company operates a network of physical retail locations complemented by an e-commerce platform, offering a one-stop source of supplies and equipment for customers with rural and suburban lifestyles. Its merchandise assortment targets a range of needs, from animal and livestock care to maintenance, outdoor power equipment, and seasonal products.

Product categories include animal feed and supplies, pet products, fencing and fencing supplies, equine equipment, lawn and garden tools, work clothing and footwear, and small agricultural and outdoor power equipment.