Tractor Supply (NASDAQ:TSCO) Downgraded by Citigroup to “Hold”

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

Other equities analysts also recently issued reports about the stock. Robert W. Baird set a $320.00 target price on shares of Tractor Supply in a report on Thursday. Loop Capital boosted their price objective on shares of Tractor Supply from $250.00 to $260.00 and gave the stock a “hold” rating in a research note on Friday, September 6th. Wells Fargo & Company raised their target price on shares of Tractor Supply from $295.00 to $325.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. UBS Group raised shares of Tractor Supply from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Finally, Melius Research began coverage on Tractor Supply in a research report on Monday, September 23rd. They issued a “buy” rating and a $315.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $272.50.

Tractor Supply Stock Performance

Shares of TSCO stock opened at $297.62 on Thursday. The firm has a market cap of $32.09 billion, a price-to-earnings ratio of 28.98, a PEG ratio of 3.81 and a beta of 0.80. Tractor Supply has a 52-week low of $185.00 and a 52-week high of $307.64. The company has a quick ratio of 0.25, a current ratio of 1.43 and a debt-to-equity ratio of 0.76. The company’s 50 day moving average is $279.96 and its 200 day moving average is $271.93.

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 analysts’ consensus estimates of $3.93. The business had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.28 billion. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. The business’s revenue was up 1.6% compared to the same quarter last year. During the same period last year, the business posted $3.83 EPS. On average, sell-side analysts anticipate that Tractor Supply will post 10.23 EPS for the current fiscal year.

Tractor Supply Announces Dividend

The firm also recently disclosed 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 1.48%. Tractor Supply’s payout ratio is currently 42.84%.

Insider Activity at Tractor Supply

In other Tractor Supply news, CFO Kurt D. Barton sold 23,532 shares of the 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related 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 transaction of $6,957,000.48. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Matthew L. Rubin sold 540 shares of Tractor Supply 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 transaction, the senior vice president now owns 5,170 shares of the company’s stock, 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 insiders.

Hedge Funds Weigh In On Tractor Supply

Several large investors have recently made changes to their positions in the company. Future Financial Wealth Managment LLC acquired a new position in shares of Tractor Supply in the first quarter worth about $26,000. LRI Investments LLC acquired a new stake in shares of Tractor Supply during the 1st quarter valued at about $28,000. Whittier Trust Co. raised its holdings in Tractor Supply by 60.9% in the 2nd quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock worth $30,000 after purchasing an additional 42 shares during the period. J.Safra Asset Management Corp boosted its position in Tractor Supply by 700.0% during the first quarter. J.Safra Asset Management Corp now owns 112 shares of the specialty retailer’s stock worth $29,000 after purchasing an additional 98 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new stake in Tractor Supply in the second quarter valued at approximately $33,000. 98.72% of the stock is currently owned by institutional investors and hedge funds.

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.