Tractor Supply Declares Quarterly Dividend of $1.10 (NASDAQ:TSCO)

Tractor Supply (NASDAQ:TSCO) announced a quarterly dividend on Thursday, May 9th, RTT News reports. Investors of record on Tuesday, May 28th will be given a dividend of 1.10 per share by the specialty retailer on Tuesday, June 11th. This represents a $4.40 annualized dividend and a yield of 1.63%.

Tractor Supply has raised its dividend by an average of 40.1% per year over the last three years and has increased its dividend every year for the last 15 years. Tractor Supply has a payout ratio of 38.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Tractor Supply to earn $11.34 per share next year, which means the company should continue to be able to cover its $4.40 annual dividend with an expected future payout ratio of 38.8%.

Tractor Supply Trading Up 1.1 %

Shares of NASDAQ TSCO opened at $269.70 on Friday. The firm’s 50 day moving average price is $257.31 and its 200-day moving average price is $230.83. The company has a market cap of $29.11 billion, a PE ratio of 26.26, a P/E/G ratio of 3.41 and a beta of 0.82. Tractor Supply has a 52-week low of $185.00 and a 52-week high of $279.38. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.19 and a current ratio of 1.40.

Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.13. The firm had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.40 billion. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The business’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.65 earnings per share. On average, equities research analysts expect that Tractor Supply will post 10.3 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Kurt D. Barton sold 4,335 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the completion of the sale, the chief financial officer now owns 20,678 shares in the company, valued at $5,314,246. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Kurt D. Barton sold 4,335 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the completion of the transaction, the chief financial officer now directly owns 20,678 shares of the company’s stock, valued at $5,314,246. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Colin Yankee sold 8,675 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $250.00, for a total value of $2,168,750.00. Following the transaction, the executive vice president now directly owns 9,673 shares of the company’s stock, valued at $2,418,250. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,470 shares of company stock worth $14,773,121. 0.58% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Mizuho reissued a “neutral” rating and set a $250.00 price objective (up from $245.00) on shares of Tractor Supply in a report on Friday, April 26th. Morgan Stanley boosted their price objective on shares of Tractor Supply from $195.00 to $235.00 and gave the company an “underweight” rating in a report on Friday, April 26th. Barclays boosted their price objective on shares of Tractor Supply from $234.00 to $240.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Guggenheim boosted their price objective on shares of Tractor Supply from $210.00 to $255.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Stephens cut shares of Tractor Supply from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $226.00 to $240.00 in a report on Tuesday, January 23rd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Tractor Supply presently has an average rating of “Hold” and an average target price of $253.54.

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.