Tractor Supply (NASDAQ:TSCO) Upgraded to “Strong-Buy” at Citigroup

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

Other analysts have also issued research reports about the company. Truist Financial boosted their target price on Tractor Supply from $289.00 to $293.00 and gave the company a buy rating in a research report on Friday, July 26th. Benchmark reissued a buy rating and issued a $280.00 target price on shares of Tractor Supply in a research report on Monday, September 30th. Evercore ISI lowered Tractor Supply from an outperform rating to an in-line rating and set a $300.00 target price on the stock. in a research report on Thursday, October 3rd. Wedbush reissued a neutral rating and issued a $270.00 target price on shares of Tractor Supply in a research report on Friday, July 26th. Finally, Loop Capital boosted their target price on Tractor Supply from $250.00 to $260.00 and gave the company a hold rating in a research report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Tractor Supply currently has a consensus rating of Moderate Buy and a consensus price target of $261.70.

Tractor Supply Trading Down 0.4 %

Shares of Tractor Supply stock opened at $293.86 on Friday. The stock has a market cap of $31.68 billion, a P/E ratio of 28.61, a P/E/G ratio of 3.74 and a beta of 0.80. The stock’s 50 day simple moving average is $272.26 and its 200-day simple moving average is $269.51. Tractor Supply has a 1-year low of $185.00 and a 1-year high of $298.36. 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 (NASDAQ:TSCO) last issued its earnings results on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share for the quarter, hitting the consensus estimate of $3.93. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. The business had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.28 billion. During the same period in the previous year, the firm posted $3.83 EPS. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. Analysts predict that Tractor Supply will post 10.23 EPS for the current fiscal year.

Tractor Supply Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 1.50%. Tractor Supply’s dividend payout ratio (DPR) is presently 42.84%.

Insider Activity

In related news, SVP Matthew L. Rubin sold 540 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $262.35, for a total transaction of $141,669.00. Following the sale, the senior vice president now owns 5,170 shares in the company, valued at $1,356,349.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Tractor Supply news, CFO Kurt D. Barton sold 23,532 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were 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 approximately $2,862,682.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Matthew L. Rubin sold 540 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now owns 5,170 shares of the company’s stock, valued at approximately $1,356,349.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

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