Tractor Supply’s (TSCO) Buy Rating Reaffirmed at Benchmark

Benchmark reiterated their buy rating on shares of Tractor Supply (NASDAQ:TSCO) in a report released on Friday, Benzinga reports. The brokerage currently has a $280.00 target price on the specialty retailer’s stock.

Other research analysts also recently issued reports about the company. Morgan Stanley increased their price objective on Tractor Supply from $195.00 to $235.00 and gave the company an underweight rating in a research note on Friday, April 26th. Truist Financial raised their target price on Tractor Supply from $289.00 to $293.00 and gave the stock a buy rating in a research note on Friday. Robert W. Baird raised their target price on Tractor Supply from $260.00 to $285.00 and gave the stock an outperform rating in a research note on Friday, April 26th. Wedbush reaffirmed a neutral rating and issued a $270.00 target price on shares of Tractor Supply in a research note on Friday. Finally, Wells Fargo & Company raised their target price on Tractor Supply from $285.00 to $295.00 and gave the stock an overweight rating in a research note on Monday, July 22nd. Two equities 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $256.58.

Tractor Supply Stock Up 1.0 %

NASDAQ TSCO opened at $265.08 on Friday. The business has a fifty day moving average price of $273.11 and a 200 day moving average price of $258.06. Tractor Supply has a one year low of $185.00 and a one year high of $290.38. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.25 and a current ratio of 1.43. The company has a market cap of $28.58 billion, a P/E ratio of 25.81, a P/E/G ratio of 3.43 and a beta of 0.81.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $3.93 EPS for the quarter, meeting the consensus estimate of $3.93. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. The firm had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same period in the prior year, the company earned $3.83 EPS. The firm’s revenue was up 1.6% compared to the same quarter last year. Research analysts anticipate that Tractor Supply will post 10.29 EPS for the current fiscal year.

Tractor Supply Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 28th were paid a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend was Friday, May 24th. Tractor Supply’s payout ratio is presently 42.84%.

Hedge Funds Weigh In On Tractor Supply

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Tractor Supply by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 12,804,873 shares of the specialty retailer’s stock valued at $2,753,432,000 after buying an additional 48,439 shares during the period. Capital International Investors lifted its stake in Tractor Supply by 7.6% during the fourth quarter. Capital International Investors now owns 6,233,852 shares of the specialty retailer’s stock worth $1,340,589,000 after purchasing an additional 439,954 shares during the last quarter. Capital World Investors lifted its stake in Tractor Supply by 10.0% during the fourth quarter. Capital World Investors now owns 5,849,188 shares of the specialty retailer’s stock worth $1,257,751,000 after purchasing an additional 531,170 shares during the last quarter. Wellington Management Group LLP lifted its stake in Tractor Supply by 63.2% during the fourth quarter. Wellington Management Group LLP now owns 4,606,455 shares of the specialty retailer’s stock worth $990,526,000 after purchasing an additional 1,784,304 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Tractor Supply by 12.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,330,621 shares of the specialty retailer’s stock worth $871,691,000 after purchasing an additional 368,859 shares during the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

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.