Analysts Set Tractor Supply (NASDAQ:TSCO) PT at $59.22

Shares of Tractor Supply (NASDAQ:TSCO) have been assigned an average recommendation of “Moderate Buy” from the twenty-one ratings firms that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $59.22.

TSCO has been the topic of several recent research reports. Mizuho upped their price objective on shares of Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Guggenheim restated a “buy” rating and set a $60.00 price target on shares of Tractor Supply in a research note on Friday, January 31st. JPMorgan Chase & Co. lifted their price objective on shares of Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Telsey Advisory Group restated an “outperform” rating and set a $67.00 target price on shares of Tractor Supply in a research report on Thursday, January 30th. Finally, Barclays cut their price target on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a report on Monday, December 30th.

Insider Transactions at Tractor Supply

In other news, EVP Melissa Kersey sold 9,300 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $53.17, for a total value of $494,481.00. Following the completion of the sale, the executive vice president now directly owns 34,961 shares in the company, valued at approximately $1,858,876.37. The trade was a 21.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Matthew L. Rubin sold 3,850 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total transaction of $222,106.50. Following the completion of the sale, the senior vice president now directly owns 31,787 shares of the company’s stock, valued at $1,833,792.03. This trade represents a 10.80 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 137,993 shares of company stock worth $7,538,068. 0.24% of the stock is currently owned by corporate insiders.

Institutional Trading of Tractor Supply

Hedge funds have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. grew its position in Tractor Supply by 1,674.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 18,492 shares of the specialty retailer’s stock worth $5,380,000 after acquiring an additional 17,450 shares during the last quarter. First Horizon Advisors Inc. increased its stake in shares of Tractor Supply by 13.2% in the third quarter. First Horizon Advisors Inc. now owns 351 shares of the specialty retailer’s stock worth $102,000 after buying an additional 41 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Tractor Supply by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 631,406 shares of the specialty retailer’s stock valued at $183,695,000 after buying an additional 8,142 shares during the last quarter. Icon Wealth Advisors LLC purchased a new stake in Tractor Supply during the 3rd quarter valued at $431,000. Finally, Meridian Wealth Management LLC bought a new stake in Tractor Supply in the 3rd quarter worth $558,000. 98.72% of the stock is owned by institutional investors.

Tractor Supply Trading Down 1.3 %

Shares of TSCO stock opened at $53.47 on Monday. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. The firm has a market cap of $28.55 billion, a P/E ratio of 26.21, a PEG ratio of 2.95 and a beta of 0.85. The company has a 50 day moving average of $55.03 and a 200-day moving average of $55.66. Tractor Supply has a 12-month low of $48.30 and a 12-month high of $61.53.

Tractor Supply (NASDAQ:TSCO) last released its earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.28 by ($1.84). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. Sell-side analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply announced that its board has authorized a share buyback plan on Thursday, February 13th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to reacquire up to 3.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were given a $0.92 dividend. The ex-dividend date was Wednesday, February 26th. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a yield of 6.88%. Tractor Supply’s payout ratio is 45.10%.

Tractor Supply Company Profile

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.