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

Tractor Supply Company (NASDAQ:TSCO) has received an average rating of “Moderate Buy” from the twenty-five analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and fifteen have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $59.7826.

Several equities research analysts have recently weighed in on TSCO shares. Evercore reiterated an “outperform” rating and set a $60.00 target price on shares of Tractor Supply in a research note on Friday, January 30th. Stephens set a $53.00 price target on Tractor Supply and gave the stock an “equal weight” rating in a research note on Thursday, January 22nd. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $65.00 price objective on shares of Tractor Supply in a research note on Thursday, October 23rd. The Goldman Sachs Group set a $59.00 target price on Tractor Supply and gave the stock a “buy” rating in a research report on Friday, January 30th. Finally, Morgan Stanley lowered their target price on Tractor Supply from $60.00 to $57.00 and set an “equal weight” rating on the stock in a report on Friday, January 30th.

Insider Buying and Selling

In related news, EVP Robert D. Mills sold 62,950 shares of the business’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $54.12, for a total value of $3,406,854.00. Following the completion of the transaction, the executive vice president owned 122,834 shares of the company’s stock, valued at approximately $6,647,776.08. The trade was a 33.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jonathan S. Estep sold 59,745 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $54.03, for a total transaction of $3,228,022.35. Following the sale, the executive vice president directly owned 80,931 shares in the company, valued at $4,372,701.93. This represents a 42.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 211,178 shares of company stock worth $11,341,362 in the last quarter. Corporate insiders own 0.65% of the company’s stock.

Institutional Trading of Tractor Supply

A number of hedge funds have recently bought and sold shares of the company. Invesco Ltd. boosted its holdings in shares of Tractor Supply by 123.4% during the second quarter. Invesco Ltd. now owns 15,079,313 shares of the specialty retailer’s stock worth $795,735,000 after purchasing an additional 8,329,462 shares during the last quarter. Norges Bank purchased a new position in Tractor Supply during the fourth quarter worth about $303,862,000. Victory Capital Management Inc. boosted its stake in Tractor Supply by 719.1% in the 3rd quarter. Victory Capital Management Inc. now owns 4,508,661 shares of the specialty retailer’s stock worth $256,408,000 after buying an additional 3,958,205 shares during the last quarter. Select Equity Group L.P. grew its holdings in Tractor Supply by 41.9% in the 2nd quarter. Select Equity Group L.P. now owns 12,713,409 shares of the specialty retailer’s stock valued at $670,887,000 after buying an additional 3,753,414 shares during the period. Finally, APG Asset Management N.V. increased its stake in shares of Tractor Supply by 505.1% during the 3rd quarter. APG Asset Management N.V. now owns 4,329,556 shares of the specialty retailer’s stock valued at $246,222,000 after acquiring an additional 3,614,097 shares during the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Tractor Supply Stock Performance

Shares of TSCO stock opened at $55.03 on Thursday. The company has a market cap of $29.08 billion, a P/E ratio of 26.58, a PEG ratio of 2.76 and a beta of 0.74. The firm has a fifty day moving average price of $52.39 and a 200 day moving average price of $55.39. The company has a current ratio of 1.34, a quick ratio of 0.16 and a debt-to-equity ratio of 0.70. Tractor Supply has a 12 month low of $46.85 and a 12 month high of $63.99.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, January 29th. The specialty retailer reported $0.43 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter in the prior year, the company earned $0.44 earnings per share. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. Sell-side analysts predict that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th will be given a $0.24 dividend. This is a boost from Tractor Supply’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Tuesday, February 24th. Tractor Supply’s dividend payout ratio (DPR) is currently 44.44%.

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.