Tractor Supply (NASDAQ:TSCO) Reaches New 12-Month Low – Here’s Why

Tractor Supply Company (NASDAQ:TSCO)’s stock price reached a new 52-week low on Wednesday . The company traded as low as $46.31 and last traded at $46.6010, with a volume of 609854 shares trading hands. The stock had previously closed at $47.55.

Analyst Upgrades and Downgrades

Several research analysts recently commented on TSCO shares. Argus decreased their target price on shares of Tractor Supply from $67.00 to $64.00 and set a “buy” rating on the stock in a research note on Monday, February 2nd. JPMorgan Chase & Co. cut their price target on shares of Tractor Supply from $62.00 to $59.00 and set a “neutral” rating on the stock in a report on Friday, January 30th. The Goldman Sachs Group set a $59.00 price objective on shares of Tractor Supply and gave the company a “buy” rating in a research report on Friday, January 30th. Gordon Haskett downgraded shares of Tractor Supply from an “accumulate” rating to a “hold” rating and lowered their price objective for the company from $57.00 to $50.00 in a research note on Thursday, January 8th. Finally, Zacks Research lowered shares of Tractor Supply from a “hold” rating to a “strong sell” rating in a report on Monday, February 2nd. Fifteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $59.78.

Tractor Supply Price Performance

The company has a market cap of $24.50 billion, a PE ratio of 22.50, a price-to-earnings-growth ratio of 2.44 and a beta of 0.72. The business has a 50 day moving average of $52.15 and a 200 day moving average of $53.96. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.34 and a quick ratio of 0.16.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings data on Thursday, January 29th. The specialty retailer reported $0.43 earnings per share (EPS) 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 company had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $4.03 billion. During the same period in the previous year, the firm posted $0.44 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, research analysts predict that Tractor Supply Company will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th were given a dividend of $0.24 per share. This is an increase from Tractor Supply’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Tuesday, February 24th. Tractor Supply’s dividend payout ratio is presently 46.38%.

Insider Buying and Selling

In other Tractor Supply news, CEO Harry A. Lawton III sold 84,670 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $53.16, for a total transaction of $4,501,057.20. Following the transaction, the chief executive officer owned 606,842 shares in the company, valued at approximately $32,259,720.72. This represents a 12.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kurt D. Barton sold 1,929 shares of the stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $53.94, for a total value of $104,050.26. Following the completion of the transaction, the chief financial officer directly owned 44,736 shares of the company’s stock, valued at $2,413,059.84. This represents a 4.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 222,348 shares of company stock valued at $11,959,621 over the last quarter. 0.65% of the stock is currently owned by insiders.

Institutional Trading of Tractor Supply

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Delos Wealth Advisors LLC purchased a new position in Tractor Supply during the 2nd quarter valued at about $26,000. JPL Wealth Management LLC bought a new stake in Tractor Supply during the third quarter worth about $28,000. Garner Asset Management Corp purchased a new stake in Tractor Supply in the fourth quarter worth about $25,000. Reflection Asset Management purchased a new stake in Tractor Supply in the fourth quarter worth about $26,000. Finally, Core Wealth Advisors LLC bought a new position in shares of Tractor Supply during the fourth quarter valued at approximately $27,000. 98.72% of the stock is owned by hedge funds and other institutional investors.

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.