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

Shares of Tractor Supply (NASDAQ:TSCO) have received an average recommendation of “Moderate Buy” from the twenty ratings firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $58.02.

A number of analysts have weighed in on the stock. Citigroup reduced their price objective on shares of Tractor Supply from $59.00 to $51.00 and set a “neutral” rating for the company in a research note on Friday, April 25th. Truist Financial reduced their price objective on shares of Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Telsey Advisory Group set a $60.00 price target on shares of Tractor Supply in a research note on Friday, April 25th. Raymond James reduced their price target on shares of Tractor Supply from $61.00 to $57.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Finally, Bank of America lifted their price target on shares of Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a research note on Thursday, January 16th.

Tractor Supply Stock Up 2.8%

NASDAQ:TSCO opened at $52.72 on Tuesday. The firm has a market cap of $28.03 billion, a P/E ratio of 25.84, a P/E/G ratio of 2.95 and a beta of 0.82. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. Tractor Supply has a fifty-two week low of $46.85 and a fifty-two week high of $61.53. The firm has a 50-day simple moving average of $51.92 and a two-hundred day simple moving average of $54.12.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). The firm had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.55 billion. Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.83 earnings per share. Analysts predict that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were issued a $0.92 dividend. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 6.98%. Tractor Supply’s dividend payout ratio (DPR) is presently 45.77%.

Tractor Supply declared that its board has initiated a share repurchase program on Thursday, February 13th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the specialty retailer to buy up to 3.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply stock in a transaction that occurred 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 transaction, the senior vice president now owns 31,787 shares of the company’s stock, valued at $1,833,792.03. The trade was a 10.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kurt D. Barton sold 12,146 shares of Tractor Supply stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $56.00, for a total transaction of $680,176.00. Following the transaction, the chief financial officer now directly owns 47,715 shares in the company, valued at $2,672,040. This represents a 20.29% decrease in their position. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tractor Supply

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Tractor Supply by 4.1% during the first quarter. Vanguard Group Inc. now owns 66,631,422 shares of the specialty retailer’s stock valued at $3,671,391,000 after purchasing an additional 2,597,450 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Tractor Supply by 401.8% in the fourth quarter. Wellington Management Group LLP now owns 23,789,249 shares of the specialty retailer’s stock worth $1,262,258,000 after buying an additional 19,048,385 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Tractor Supply by 403.3% during the fourth quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer’s stock worth $1,180,932,000 after acquiring an additional 17,834,643 shares during the last quarter. Capital World Investors increased its holdings in Tractor Supply by 403.7% in the 4th quarter. Capital World Investors now owns 19,433,135 shares of the specialty retailer’s stock valued at $1,031,122,000 after acquiring an additional 15,575,311 shares during the last quarter. Finally, Capital International Investors lifted its stake in Tractor Supply by 334.7% in the 4th quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer’s stock worth $818,421,000 after purchasing an additional 11,880,010 shares in the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

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.