Tractor Supply (NASDAQ:TSCO) Stock Rating Lowered by Citigroup

Citigroup cut shares of Tractor Supply (NASDAQ:TSCO) from a strong-buy rating to a hold rating in a research note released on Thursday morning, Zacks.com reports.

TSCO has been the topic of several other research reports. Wells Fargo & Company upped their price objective on shares of Tractor Supply from $295.00 to $325.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Piper Sandler upped their price target on Tractor Supply from $300.00 to $332.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. UBS Group raised Tractor Supply from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. 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. Finally, Loop Capital lifted their price target on shares of Tractor Supply from $250.00 to $260.00 and gave the company a “hold” rating in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $272.50.

Tractor Supply Stock Down 0.2 %

Shares of NASDAQ:TSCO opened at $297.62 on Thursday. Tractor Supply has a 1 year low of $185.00 and a 1 year high of $307.64. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.43 and a quick ratio of 0.25. The business’s 50-day moving average is $279.96 and its 200-day moving average is $272.03. The company has a market capitalization of $32.10 billion, a price-to-earnings ratio of 28.70, a P/E/G ratio of 3.74 and a beta of 0.80.

Tractor Supply (NASDAQ:TSCO) last issued 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 firm had revenue of $4.25 billion for 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 company’s revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.83 earnings per share. Equities research analysts predict that Tractor Supply will post 10.23 earnings per share for the current year.

Tractor Supply Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date was Monday, August 26th. Tractor Supply’s dividend payout ratio (DPR) is currently 42.43%.

Insider Buying and Selling

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 shares were sold at an average price of $295.64, for a total value of $6,957,000.48. Following the sale, the chief financial officer now 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other 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 transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $6,957,000.48. Following the completion of the sale, the chief financial officer now directly owns 9,683 shares of the company’s stock, valued at approximately $2,862,682.12. This trade represents 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 corporate insiders.

Hedge Funds Weigh In On Tractor Supply

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its holdings in shares of Tractor Supply by 12.5% in 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 during the period. Dimensional Fund Advisors LP boosted its stake in Tractor Supply by 10.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,123,280 shares of the specialty retailer’s stock worth $303,278,000 after purchasing an additional 110,342 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Tractor Supply by 4.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 800,463 shares of the specialty retailer’s stock worth $216,125,000 after purchasing an additional 37,071 shares during the period. Clearbridge Investments LLC grew its holdings in Tractor Supply by 67.4% during the 2nd quarter. Clearbridge Investments LLC now owns 403,710 shares of the specialty retailer’s stock valued at $109,002,000 after buying an additional 162,533 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Tractor Supply by 5.6% during the second quarter. Principal Financial Group Inc. now owns 368,161 shares of the specialty retailer’s stock valued at $99,403,000 after buying an additional 19,393 shares during the period. Institutional investors 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.