Tractor Supply (NASDAQ:TSCO) Given Buy Rating at Benchmark

Benchmark reissued their buy rating on shares of Tractor Supply (NASDAQ:TSCO) in a report issued on Monday morning, Benzinga reports. They currently have a $280.00 price objective on the specialty retailer’s stock.

TSCO has been the subject of a number of other reports. Truist Financial upped their price objective on Tractor Supply from $289.00 to $293.00 and gave the stock a buy rating in a research note on Friday, July 26th. Evercore ISI lowered their price target on shares of Tractor Supply from $290.00 to $280.00 and set an outperform rating for the company in a research report on Friday, July 26th. Wedbush reaffirmed a neutral rating and issued a $270.00 price objective on shares of Tractor Supply in a report on Friday, July 26th. Telsey Advisory Group reissued an outperform rating and set a $305.00 target price on shares of Tractor Supply in a research note on Thursday, July 25th. Finally, Melius Research began coverage on shares of Tractor Supply in a research note on Monday, September 23rd. They issued a buy rating and a $315.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Tractor Supply currently has an average rating of Hold and a consensus price target of $260.83.

Tractor Supply Stock Performance

Tractor Supply stock opened at $290.93 on Monday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.43 and a quick ratio of 0.25. Tractor Supply has a 12 month low of $185.00 and a 12 month high of $291.52. The company has a fifty day moving average price of $269.14 and a two-hundred day moving average price of $268.24. The company has a market cap of $31.38 billion, a PE ratio of 28.33, a P/E/G ratio of 3.59 and a beta of 0.80.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $3.93. The business had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.28 billion. Tractor Supply had a net margin of 7.65% and a return on equity of 51.84%. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.83 EPS. Research analysts expect that Tractor Supply will post 10.23 earnings per share for the current year.

Tractor Supply Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were given a $1.10 dividend. The ex-dividend date was Monday, August 26th. This represents a $4.40 dividend on an annualized basis and a yield of 1.51%. Tractor Supply’s payout ratio is 42.84%.

Insider Activity

In related news, SVP Matthew L. Rubin sold 540 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $262.35, for a total transaction of $141,669.00. Following the completion of the sale, the senior vice president now directly owns 5,170 shares in the company, valued at $1,356,349.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.24% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TSCO. Future Financial Wealth Managment LLC bought a new position in Tractor Supply during the first quarter valued at approximately $26,000. Rise Advisors LLC increased its position in Tractor Supply by 157.1% during the first quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock worth $28,000 after buying an additional 66 shares during the last quarter. LRI Investments LLC bought a new position in Tractor Supply during the first quarter valued at about $28,000. J.Safra Asset Management Corp lifted its position in shares of Tractor Supply by 700.0% in the first quarter. J.Safra Asset Management Corp now owns 112 shares of the specialty retailer’s stock worth $29,000 after buying an additional 98 shares during the last quarter. Finally, Whittier Trust Co. boosted its stake in shares of Tractor Supply by 60.9% during the 2nd quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock worth $30,000 after acquiring an additional 42 shares in the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

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.