Tractor Supply (NASDAQ:TSCO) Receives Average Recommendation of “Moderate Buy” from Analysts

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

Several brokerages have recently weighed in on TSCO. Telsey Advisory Group reissued an “outperform” rating and issued a $67.00 price objective on shares of Tractor Supply in a research report on Thursday, January 30th. Loop Capital raised their price objective on shares of Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a research report on Thursday, December 12th. Evercore ISI raised Tractor Supply from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 15th. Truist Financial dropped their price target on Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a report on Friday, January 31st. Finally, Barclays decreased their price objective on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating on the stock in a report on Monday, December 30th.

Tractor Supply Trading Down 3.3 %

Shares of NASDAQ:TSCO opened at $55.14 on Thursday. The company has a 50-day simple moving average of $54.97 and a 200 day simple moving average of $55.62. The company has a market capitalization of $29.44 billion, a P/E ratio of 27.03, a price-to-earnings-growth ratio of 2.95 and a beta of 0.84. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. Tractor Supply has a 52-week low of $48.30 and a 52-week high of $61.53.

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

Tractor Supply Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th will be given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 6.67%. The ex-dividend date is Wednesday, February 26th. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s payout ratio is currently 45.10%.

Tractor Supply announced that its Board of Directors has approved a share buyback plan on Thursday, February 13th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to repurchase up to 3.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Insider Activity at Tractor Supply

In related news, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $54.59, for a total value of $4,809,106.05. Following the transaction, the chief executive officer now directly owns 488,852 shares of the company’s stock, valued at $26,686,430.68. The trade was a 15.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Matthew L. Rubin sold 3,850 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $57.69, for a total value of $222,106.50. Following the sale, the senior vice president now owns 31,787 shares in the company, valued at approximately $1,833,792.03. The trade was a 10.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 137,993 shares of company stock worth $7,538,068 in the last quarter. 0.58% of the stock is owned by insiders.

Institutional Investors Weigh In On Tractor Supply

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