Tractor Supply (NASDAQ:TSCO) Shares Gap Down Following Weak Earnings

Tractor Supply (NASDAQ:TSCO) shares gapped down prior to trading on Thursday following a dissappointing earnings announcement. The stock had previously closed at $57.16, but opened at $54.04. Tractor Supply shares last traded at $54.83, with a volume of 1,445,016 shares changing hands.

The specialty retailer reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.28 by ($1.84). Tractor Supply had a return on equity of 50.19% and a net margin of 7.53%.

Tractor Supply Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend was Monday, November 25th. Tractor Supply’s payout ratio is 42.80%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TSCO. Mizuho boosted their target price on shares of Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Evercore ISI raised shares of Tractor Supply from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 15th. Citigroup lowered shares of Tractor Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. UBS Group boosted their target price on shares of Tractor Supply from $54.40 to $56.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Finally, Piper Sandler boosted their target price on shares of Tractor Supply from $60.00 to $66.40 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $58.58.

Institutional Investors Weigh In On Tractor Supply

Several large investors have recently made changes to their positions in TSCO. PrairieView Partners LLC grew its holdings in shares of Tractor Supply by 400.0% in the 4th quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 400 shares during the last quarter. Future Financial Wealth Managment LLC lifted its position in Tractor Supply by 400.0% during the 4th quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer’s stock worth $27,000 after buying an additional 400 shares in the last quarter. Archer Investment Corp lifted its position in Tractor Supply by 400.0% during the 4th quarter. Archer Investment Corp now owns 500 shares of the specialty retailer’s stock worth $27,000 after buying an additional 400 shares in the last quarter. Kentucky Trust Co acquired a new position in Tractor Supply during the 4th quarter worth about $27,000. Finally, First Personal Financial Services acquired a new position in Tractor Supply during the 3rd quarter worth about $29,000. Institutional investors own 98.72% of the company’s stock.

Tractor Supply Trading Down 5.0 %

The company’s 50-day moving average is $55.28 and its 200-day moving average is $55.23. The firm has a market cap of $29.00 billion, a price-to-earnings ratio of 26.41, a P/E/G ratio of 3.31 and a beta of 0.84. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.17 and a current ratio of 1.48.

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.