UBS Group Upgrades Tractor Supply (NASDAQ:TSCO) to “Strong-Buy”

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

Several other research analysts also recently commented on TSCO. Benchmark reaffirmed a buy rating and issued a $280.00 price target on shares of Tractor Supply in a research report on Monday, September 30th. Wells Fargo & Company boosted their price target on Tractor Supply from $285.00 to $295.00 and gave the company an overweight rating in a research note on Monday, July 22nd. Melius Research started coverage on Tractor Supply in a research note on Monday, September 23rd. They issued a buy rating and a $315.00 price target on the stock. Citigroup raised Tractor Supply from a hold rating to a strong-buy rating in a research note on Friday. Finally, Truist Financial boosted their price target on Tractor Supply from $289.00 to $293.00 and gave the company a buy rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $261.70.

Tractor Supply Trading Down 0.4 %

Shares of NASDAQ TSCO opened at $293.86 on Friday. The firm has a market capitalization of $31.68 billion, a PE ratio of 28.61, a PEG ratio of 3.74 and a beta of 0.80. The company has a current ratio of 1.43, a quick ratio of 0.25 and a debt-to-equity ratio of 0.76. Tractor Supply has a one year low of $185.00 and a one year high of $298.36. The business has a 50-day moving average price of $272.26 and a two-hundred day moving average price of $269.51.

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

Tractor Supply Dividend Announcement

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

Insider Activity at Tractor Supply

In other Tractor Supply news, CFO Kurt D. Barton sold 23,532 shares of Tractor Supply 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 transaction, the chief financial officer now directly owns 9,683 shares of the company’s stock, valued at approximately $2,862,682.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Tractor Supply news, SVP Matthew L. Rubin sold 540 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,356,349.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kurt D. Barton sold 23,532 shares of the business’s 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 completion of the transaction, the chief financial officer now owns 9,683 shares in the company, valued at $2,862,682.12. The trade was a 0.00 % decrease in their position. 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

A number of hedge funds and other institutional investors have recently modified their holdings of TSCO. Vanguard Group Inc. lifted its stake in Tractor Supply by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 12,804,873 shares of the specialty retailer’s stock valued at $2,753,432,000 after purchasing an additional 48,439 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Tractor Supply by 63.2% during the fourth quarter. Wellington Management Group LLP now owns 4,606,455 shares of the specialty retailer’s stock worth $990,526,000 after acquiring an additional 1,784,304 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Tractor Supply by 12.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,330,621 shares of the specialty retailer’s stock worth $871,691,000 after acquiring an additional 368,859 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Tractor Supply by 10.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,123,280 shares of the specialty retailer’s stock worth $303,278,000 after acquiring an additional 110,342 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Tractor Supply by 4.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 800,463 shares of the specialty retailer’s stock worth $216,125,000 after acquiring an additional 37,071 shares in the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

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.