Tractor Supply (NASDAQ:TSCO) Given Average Rating of “Moderate Buy” by Brokerages

Tractor Supply (NASDAQ:TSCO) has received an average rating of “Moderate Buy” from the twenty-one ratings firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $59.22.

A number of equities analysts have commented on TSCO shares. JPMorgan Chase & Co. lifted their target price on shares of Tractor Supply from $58.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Wells Fargo & Company reduced their target price on shares of Tractor Supply from $65.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Telsey Advisory Group reissued an “outperform” rating and issued a $67.00 price target on shares of Tractor Supply in a research note on Thursday, January 30th. Truist Financial reduced their price target on shares of Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Finally, Evercore ISI raised shares of Tractor Supply from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 15th.

Tractor Supply Price Performance

Shares of TSCO stock opened at $54.90 on Thursday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. The firm’s 50-day moving average is $55.06 and its two-hundred day moving average is $55.69. Tractor Supply has a 12 month low of $48.30 and a 12 month high of $61.53. The company has a market capitalization of $29.32 billion, a PE ratio of 26.91, a price-to-earnings-growth ratio of 2.95 and a beta of 0.84.

Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Thursday, January 30th. The specialty retailer reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $2.28 by ($1.84). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. Analysts predict that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply declared that its board has approved a stock repurchase program on Thursday, February 13th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the specialty retailer to reacquire up to 3.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Tractor Supply Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th will be issued a $0.92 dividend. The ex-dividend date is Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 6.70%. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s payout ratio is 45.10%.

Insiders Place Their Bets

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total transaction of $222,106.50. Following the completion of the transaction, the senior vice president now owns 31,787 shares in the company, valued at $1,833,792.03. The trade was a 10.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Melissa Kersey sold 9,300 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $53.17, for a total transaction of $494,481.00. Following the transaction, the executive vice president now owns 34,961 shares of the company’s stock, valued at $1,858,876.37. This trade represents a 21.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,993 shares of company stock worth $7,538,068 in the last 90 days. Corporate insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Silvant Capital Management LLC lifted its position in shares of Tractor Supply by 20.9% during the 3rd quarter. Silvant Capital Management LLC now owns 14,781 shares of the specialty retailer’s stock worth $4,300,000 after buying an additional 2,556 shares during the last quarter. Blueshift Asset Management LLC lifted its position in shares of Tractor Supply by 32.7% during the 3rd quarter. Blueshift Asset Management LLC now owns 9,945 shares of the specialty retailer’s stock worth $2,893,000 after buying an additional 2,452 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Tractor Supply by 48.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,801 shares of the specialty retailer’s stock worth $2,851,000 after buying an additional 3,182 shares during the last quarter. Mutual of America Capital Management LLC lifted its position in shares of Tractor Supply by 16.5% during the 3rd quarter. Mutual of America Capital Management LLC now owns 27,336 shares of the specialty retailer’s stock worth $7,953,000 after buying an additional 3,863 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Tractor Supply by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 631,406 shares of the specialty retailer’s stock worth $183,695,000 after buying an additional 8,142 shares during the last quarter. Institutional investors and hedge funds 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.