Tractor Supply Company (NASDAQ:TSCO) Receives $59.78 Consensus Price Target from Analysts

Shares of Tractor Supply Company (NASDAQ:TSCO) have earned an average recommendation of “Moderate Buy” from the twenty-five brokerages that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $59.7826.

Several equities analysts recently commented on the stock. Evercore reiterated an “outperform” rating and set a $60.00 price target on shares of Tractor Supply in a report on Friday, January 30th. The Goldman Sachs Group set a $59.00 target price on Tractor Supply and gave the company a “buy” rating in a research note on Friday, January 30th. Gordon Haskett downgraded Tractor Supply from an “accumulate” rating to a “hold” rating and reduced their price target for the stock from $57.00 to $50.00 in a report on Thursday, January 8th. JPMorgan Chase & Co. dropped their price objective on Tractor Supply from $62.00 to $59.00 and set a “neutral” rating for the company in a report on Friday, January 30th. Finally, Morgan Stanley reduced their target price on Tractor Supply from $60.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Friday, January 30th.

Tractor Supply Stock Performance

NASDAQ:TSCO opened at $52.54 on Thursday. The firm has a market capitalization of $27.76 billion, a PE ratio of 25.38, a PEG ratio of 2.64 and a beta of 0.74. The stock’s fifty day moving average is $52.39 and its 200 day moving average is $55.33. Tractor Supply has a fifty-two week low of $46.85 and a fifty-two week high of $63.99. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.16 and a current ratio of 1.34.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data on Thursday, January 29th. The specialty retailer reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.03). Tractor Supply had a net margin of 7.06% and a return on equity of 44.36%. The firm had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter last year, the firm earned $0.44 EPS. The company’s revenue was up 3.3% on a year-over-year basis. On average, sell-side analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, February 24th. This represents a $0.96 annualized dividend and a yield of 1.8%. This is a boost from Tractor Supply’s previous quarterly dividend of $0.23. Tractor Supply’s payout ratio is 44.44%.

Insider Buying and Selling

In other news, CFO Kurt D. Barton sold 1,884 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $53.81, for a total transaction of $101,378.04. Following the transaction, the chief financial officer directly owned 52,562 shares of the company’s stock, valued at approximately $2,828,361.22. This trade represents a 3.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jonathan S. Estep sold 59,745 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $54.03, for a total value of $3,228,022.35. Following the completion of the sale, the executive vice president owned 80,931 shares of the company’s stock, valued at $4,372,701.93. The trade was a 42.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 222,348 shares of company stock worth $11,959,621 over the last 90 days. Corporate insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Tractor Supply

Several institutional investors have recently made changes to their positions in the company. Bison Wealth LLC increased its position in Tractor Supply by 356.1% during the 4th quarter. Bison Wealth LLC now owns 6,426 shares of the specialty retailer’s stock valued at $341,000 after purchasing an additional 5,017 shares during the period. Woodline Partners LP boosted its stake in shares of Tractor Supply by 40.7% during the first quarter. Woodline Partners LP now owns 45,132 shares of the specialty retailer’s stock valued at $2,487,000 after purchasing an additional 13,051 shares in the last quarter. Intech Investment Management LLC increased its holdings in Tractor Supply by 26.9% during the first quarter. Intech Investment Management LLC now owns 26,162 shares of the specialty retailer’s stock valued at $1,442,000 after buying an additional 5,542 shares during the period. Johnson Investment Counsel Inc. raised its stake in Tractor Supply by 12.3% in the second quarter. Johnson Investment Counsel Inc. now owns 12,552 shares of the specialty retailer’s stock worth $662,000 after buying an additional 1,376 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Tractor Supply by 56.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 111,118 shares of the specialty retailer’s stock worth $6,009,000 after buying an additional 40,174 shares in the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

About Tractor Supply

Tractor Supply Company (NASDAQ: TSCO) is a specialty retailer focused on products for the home, farm, ranch and outdoors. The company operates a network of physical retail locations complemented by an e-commerce platform, offering a one-stop source of supplies and equipment for customers with rural and suburban lifestyles. Its merchandise assortment targets a range of needs, from animal and livestock care to maintenance, outdoor power equipment, and seasonal products.

Product categories include animal feed and supplies, pet products, fencing and fencing supplies, equine equipment, lawn and garden tools, work clothing and footwear, and small agricultural and outdoor power equipment.