Tractor Supply (NASDAQ:TSCO) Receives $59.22 Average PT from Brokerages

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

A number of research firms have issued reports on TSCO. Barclays decreased their price target on shares of Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a report on Monday, December 30th. Evercore ISI raised shares of Tractor Supply from a “hold” rating to a “strong-buy” rating in a report on Friday, November 15th. Bank of America raised their price target on shares of Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a report on Thursday, January 16th. Truist Financial cut their price objective on shares of Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Finally, Mizuho increased their price objective on shares of Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd.

Tractor Supply Trading Down 0.8 %

NASDAQ TSCO opened at $54.90 on Thursday. The company has a fifty day simple moving average of $55.06 and a two-hundred day simple moving average of $55.69. The stock has a market cap of $29.32 billion, a P/E ratio of 26.91, a P/E/G ratio of 2.95 and a beta of 0.84. Tractor Supply has a 12-month low of $48.30 and a 12-month high of $61.53. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly 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%. On average, analysts forecast that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply announced that its Board of Directors has initiated a stock buyback plan on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the specialty retailer to reacquire up to 3.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th will be given a $0.92 dividend. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date is Wednesday, February 26th. This represents a $3.68 annualized dividend and a dividend yield of 6.70%. Tractor Supply’s dividend payout ratio (DPR) is 45.10%.

Insider Activity

In other news, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $54.59, for a total value of $4,809,106.05. Following the sale, the chief executive officer now owns 488,852 shares in the company, valued at $26,686,430.68. This trade represents a 15.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Colin Yankee sold 24,602 shares of Tractor Supply stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $54.15, for a total transaction of $1,332,198.30. Following the completion of the sale, the executive vice president now owns 33,645 shares in the company, valued at approximately $1,821,876.75. This trade represents a 42.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 137,993 shares of company stock worth $7,538,068 over the last 90 days. 0.24% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tractor Supply

Several hedge funds and other institutional investors have recently modified their holdings of TSCO. Smithfield Trust Co lifted its stake in shares of Tractor Supply by 286.2% in the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer’s stock worth $25,000 after buying an additional 352 shares in the last quarter. Coppell Advisory Solutions LLC lifted its stake in shares of Tractor Supply by 944.4% in the fourth quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer’s stock worth $25,000 after buying an additional 425 shares in the last quarter. PrairieView Partners LLC lifted its stake in shares of Tractor Supply by 400.0% in the fourth quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer’s stock worth $26,000 after buying an additional 400 shares in the last quarter. Future Financial Wealth Managment LLC lifted its stake in shares of Tractor Supply by 400.0% in the fourth quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer’s stock worth $27,000 after buying an additional 400 shares in the last quarter. Finally, Archer Investment Corp lifted its stake in shares of Tractor Supply by 400.0% in the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer’s stock worth $27,000 after buying an additional 400 shares in the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

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.