Tractor Supply (NASDAQ:TSCO) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Tractor Supply (NASDAQ:TSCO) has been given an average rating of “Moderate Buy” by the twenty-four brokerages that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $254.17.

TSCO has been the topic of several recent analyst reports. Benchmark reiterated a “buy” rating and issued a $256.00 price target on shares of Tractor Supply in a research note on Monday, April 22nd. Raymond James boosted their price target on Tractor Supply from $250.00 to $285.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. JPMorgan Chase & Co. boosted their price target on Tractor Supply from $241.00 to $263.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. TD Cowen boosted their price target on Tractor Supply from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, Piper Sandler boosted their price target on Tractor Supply from $265.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th.

Tractor Supply Trading Up 0.9 %

Shares of TSCO opened at $270.00 on Friday. The stock’s 50-day moving average is $274.91 and its two-hundred day moving average is $250.18. The stock has a market cap of $29.11 billion, a PE ratio of 26.29, a P/E/G ratio of 3.47 and a beta of 0.83. Tractor Supply has a 12 month low of $185.00 and a 12 month high of $290.38. 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 (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. The company had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.40 billion. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.65 earnings per share. Equities analysts forecast that Tractor Supply will post 10.34 earnings per share for the current fiscal year.

Tractor Supply Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 28th were paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.63%. The ex-dividend date was Friday, May 24th. Tractor Supply’s dividend payout ratio (DPR) is currently 42.84%.

Hedge Funds Weigh In On Tractor Supply

A number of hedge funds have recently modified their holdings of TSCO. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Tractor Supply in the third quarter worth $1,359,000. LPL Financial LLC increased its position in Tractor Supply by 4.6% during the third quarter. LPL Financial LLC now owns 113,873 shares of the specialty retailer’s stock worth $23,122,000 after buying an additional 5,014 shares during the last quarter. Federated Hermes Inc. increased its position in Tractor Supply by 57.7% during the third quarter. Federated Hermes Inc. now owns 288,315 shares of the specialty retailer’s stock worth $58,542,000 after buying an additional 105,538 shares during the last quarter. Northern Trust Corp increased its position in Tractor Supply by 4.7% during the third quarter. Northern Trust Corp now owns 1,182,164 shares of the specialty retailer’s stock worth $240,038,000 after buying an additional 52,583 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC increased its position in Tractor Supply by 5.8% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,331 shares of the specialty retailer’s stock worth $270,000 after buying an additional 73 shares during the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

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.