Tractor Supply (NASDAQ:TSCO) Rating Reiterated by Mizuho

Mizuho reiterated their neutral rating on shares of Tractor Supply (NASDAQ:TSCO) in a report issued on Friday morning, Benzinga reports. Mizuho currently has a $250.00 target price on the specialty retailer’s stock, up from their previous target price of $245.00.

A number of other brokerages have also recently commented on TSCO. The Goldman Sachs Group increased their price target on shares of Tractor Supply from $230.00 to $262.00 and gave the company a buy rating in a research note on Friday, February 2nd. Benchmark restated a buy rating and set a $256.00 target price on shares of Tractor Supply in a research note on Monday, April 22nd. Guggenheim raised their target price on shares of Tractor Supply from $210.00 to $255.00 and gave the stock a buy rating in a research note on Friday, February 2nd. Robert W. Baird raised their target price on shares of Tractor Supply from $260.00 to $285.00 and gave the stock an outperform rating in a research note on Friday. Finally, Raymond James cut shares of Tractor Supply from a strong-buy rating to an outperform rating and raised their target price for the stock from $230.00 to $250.00 in a research note on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Hold and an average price target of $250.00.

Tractor Supply Stock Performance

Shares of TSCO stock opened at $277.88 on Friday. The stock has a market cap of $29.99 billion, a P/E ratio of 27.06, a P/E/G ratio of 3.47 and a beta of 0.84. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.40 and a quick ratio of 0.19. The company has a fifty day moving average price of $253.27 and a two-hundred day moving average price of $227.47. Tractor Supply has a one year low of $185.00 and a one year high of $278.16.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.13. The firm had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.40 billion. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.65 earnings per share. As a group, equities analysts predict that Tractor Supply will post 10.26 EPS for the current year.

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were paid a $1.10 dividend. This is an increase from Tractor Supply’s previous quarterly dividend of $1.03. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend was Friday, February 23rd. Tractor Supply’s dividend payout ratio (DPR) is presently 42.84%.

Insider Activity

In other news, EVP Robert D. Mills sold 48,334 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $232.23, for a total value of $11,224,604.82. Following the sale, the executive vice president now directly owns 22,167 shares in the company, valued at approximately $5,147,842.41. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Harry A. Lawton III sold 20,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $232.93, for a total value of $4,775,065.00. Following the sale, the chief executive officer now directly owns 95,192 shares in the company, valued at approximately $22,173,072.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Robert D. Mills sold 48,334 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $232.23, for a total transaction of $11,224,604.82. Following the completion of the sale, the executive vice president now owns 22,167 shares in the company, valued at $5,147,842.41. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,090 shares of company stock worth $21,201,877. Corporate insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On Tractor Supply

A number of hedge funds have recently made changes to their positions in the stock. Renaissance Investment Group LLC boosted its position in Tractor Supply by 1.2% during the 1st quarter. Renaissance Investment Group LLC now owns 24,349 shares of the specialty retailer’s stock worth $6,373,000 after buying an additional 289 shares during the period. Field & Main Bank boosted its position in Tractor Supply by 11.5% during the 1st quarter. Field & Main Bank now owns 2,824 shares of the specialty retailer’s stock worth $739,000 after buying an additional 291 shares during the period. Greenleaf Trust boosted its position in Tractor Supply by 2.8% during the 1st quarter. Greenleaf Trust now owns 2,715 shares of the specialty retailer’s stock worth $711,000 after buying an additional 75 shares during the period. Principal Financial Group Inc. boosted its position in Tractor Supply by 1.3% during the 1st quarter. Principal Financial Group Inc. now owns 348,768 shares of the specialty retailer’s stock worth $91,280,000 after buying an additional 4,354 shares during the period. Finally, ETF Store Inc. acquired a new stake in Tractor Supply during the 1st quarter worth approximately $221,000. 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.