Tractor Supply’s (TSCO) Neutral Rating Reiterated at Wedbush

Wedbush reiterated their neutral rating on shares of Tractor Supply (NASDAQ:TSCO) in a report issued on Tuesday morning, Benzinga reports. They currently have a $235.00 price objective on the specialty retailer’s stock.

A number of other research analysts have also weighed in on TSCO. UBS Group raised their price target on shares of Tractor Supply from $220.00 to $240.00 and gave the company a neutral rating in a research report on Friday, February 2nd. Benchmark restated a buy rating and issued a $256.00 target price on shares of Tractor Supply in a research note on Monday, April 22nd. Raymond James downgraded Tractor Supply from a strong-buy rating to an outperform rating and increased their price target for the company from $230.00 to $250.00 in a research report on Friday, February 2nd. Telsey Advisory Group boosted their price objective on Tractor Supply from $250.00 to $275.00 and gave the stock an outperform rating in a research report on Friday, April 19th. Finally, Wells Fargo & Company upped their price objective on Tractor Supply from $250.00 to $285.00 and gave the company an overweight rating in a research note on Monday, March 25th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Tractor Supply has an average rating of Hold and a consensus price target of $248.17.

Tractor Supply Stock Performance

Shares of Tractor Supply stock opened at $273.90 on Tuesday. Tractor Supply has a 52 week low of $185.00 and a 52 week high of $274.66. The company has a quick ratio of 0.28, a current ratio of 1.50 and a debt-to-equity ratio of 0.82. The business has a 50 day moving average price of $252.44 and a 200-day moving average price of $226.59. The company has a market cap of $29.56 billion, a PE ratio of 27.15, a price-to-earnings-growth ratio of 3.88 and a beta of 0.84.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly 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. Tractor Supply had a return on equity of 53.60% and a net margin of 7.61%. The business had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the prior year, the company posted $1.65 earnings per share. Tractor Supply’s revenue was up 2.8% compared to the same quarter last year. Equities analysts anticipate that Tractor Supply will post 10.2 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 1.61%. This is a positive change from Tractor Supply’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Friday, February 23rd. Tractor Supply’s payout ratio is currently 43.61%.

Insider Buying and Selling at Tractor Supply

In other news, CEO Harry A. Lawton III sold 20,500 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $232.93, for a total value of $4,775,065.00. Following the completion of the transaction, the chief executive officer now directly owns 95,192 shares of the company’s stock, valued at $22,173,072.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Kurt D. Barton sold 4,335 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were 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 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 hyperlink. Also, CEO Harry A. Lawton III sold 20,500 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $232.93, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 90,090 shares of company stock valued at $21,201,877 in the last 90 days. 0.24% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Patrick M Sweeney & Associates Inc. increased its holdings in shares of Tractor Supply by 8.0% in the first quarter. Patrick M Sweeney & Associates Inc. now owns 1,064 shares of the specialty retailer’s stock worth $279,000 after purchasing an additional 79 shares during the period. Tritonpoint Wealth LLC grew its position in Tractor Supply by 5.4% during the first quarter. Tritonpoint Wealth LLC now owns 3,340 shares of the specialty retailer’s stock worth $874,000 after buying an additional 172 shares in the last quarter. Lindbrook Capital LLC increased its stake in Tractor Supply by 10.9% in the 1st quarter. Lindbrook Capital LLC now owns 459 shares of the specialty retailer’s stock worth $120,000 after acquiring an additional 45 shares during the last quarter. WCM Investment Management LLC raised its holdings in shares of Tractor Supply by 2.3% in the 1st quarter. WCM Investment Management LLC now owns 3,702 shares of the specialty retailer’s stock valued at $969,000 after acquiring an additional 82 shares in the last quarter. Finally, TRUE Private Wealth Advisors raised its holdings in shares of Tractor Supply by 6.5% in the 1st quarter. TRUE Private Wealth Advisors now owns 1,698 shares of the specialty retailer’s stock valued at $444,000 after acquiring an additional 104 shares in the last quarter. 98.72% of the stock is owned by institutional investors.

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.