Tractor Supply (NASDAQ:TSCO) Raised to Strong-Buy at Citigroup

Citigroup upgraded shares of Tractor Supply (NASDAQ:TSCO) from a hold rating to a strong-buy rating in a report published on Friday morning, Zacks.com reports.

Several other equities analysts have also recently weighed in on TSCO. Truist Financial raised their target price on shares of Tractor Supply from $289.00 to $293.00 and gave the company a buy rating in a research note on Friday, July 26th. Benchmark restated a buy rating and issued a $280.00 price target on shares of Tractor Supply in a report on Monday, September 30th. Evercore ISI downgraded shares of Tractor Supply from an outperform rating to an in-line rating and set a $300.00 price objective on the stock. in a research report on Thursday, October 3rd. Loop Capital boosted their target price on shares of Tractor Supply from $250.00 to $260.00 and gave the stock a hold rating in a research report on Friday, September 6th. Finally, Melius Research initiated coverage on shares of Tractor Supply in a research note on Monday, September 23rd. They issued a buy rating and a $315.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $261.70.

Tractor Supply Stock Performance

Shares of NASDAQ:TSCO opened at $293.86 on Friday. Tractor Supply has a 12 month low of $185.00 and a 12 month high of $298.36. The company has a current ratio of 1.43, a quick ratio of 0.25 and a debt-to-equity ratio of 0.76. The company has a 50-day moving average price of $272.26 and a 200-day moving average price of $269.51. The company has a market cap of $31.68 billion, a price-to-earnings ratio of 28.61, a price-to-earnings-growth ratio of 3.74 and a beta of 0.80.

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

Tractor Supply Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.50%. The ex-dividend date was Monday, August 26th. Tractor Supply’s dividend payout ratio (DPR) is currently 42.84%.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, CFO Kurt D. Barton sold 23,532 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total transaction of $6,957,000.48. Following the completion of the sale, the chief financial officer now directly owns 9,683 shares in the company, valued at approximately $2,862,682.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Tractor Supply news, CFO Kurt D. Barton sold 23,532 shares of Tractor Supply stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total value of $6,957,000.48. Following the transaction, the chief financial officer now directly owns 9,683 shares of the company’s stock, valued at $2,862,682.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Matthew L. Rubin sold 540 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $262.35, for a total value of $141,669.00. Following the sale, the senior vice president now owns 5,170 shares in the company, valued at approximately $1,356,349.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tractor Supply

Institutional investors and hedge funds have recently bought and sold shares of the business. Signature Wealth Management Group increased its holdings in Tractor Supply by 0.5% in the second quarter. Signature Wealth Management Group now owns 6,999 shares of the specialty retailer’s stock valued at $1,890,000 after purchasing an additional 38 shares during the last quarter. X Square Capital LLC lifted its position in shares of Tractor Supply by 1.6% in the second quarter. X Square Capital LLC now owns 2,579 shares of the specialty retailer’s stock valued at $696,000 after buying an additional 41 shares during the last quarter. Eads & Heald Wealth Management increased its stake in shares of Tractor Supply by 0.6% during the second quarter. Eads & Heald Wealth Management now owns 7,040 shares of the specialty retailer’s stock worth $1,901,000 after purchasing an additional 42 shares during the period. Whittier Trust Co. increased its stake in 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 during the period. Finally, Meiji Yasuda Asset Management Co Ltd. increased its stake in Tractor Supply by 1.2% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,464 shares of the specialty retailer’s stock worth $935,000 after acquiring an additional 42 shares during the period. Institutional investors and hedge funds 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.