Tractor Supply (NASDAQ:TSCO) Sets New 52-Week Low – What’s Next?

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on TSCO shares. Mizuho lowered their price objective on Tractor Supply from $65.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, January 30th. Truist Financial set a $55.00 price objective on shares of Tractor Supply and gave the company a “hold” rating in a research report on Friday, January 16th. Morgan Stanley reduced their target price on Tractor Supply from $60.00 to $57.00 and set an “equal weight” rating for the company in a research report on Friday, January 30th. TD Cowen decreased their target price on Tractor Supply from $55.00 to $53.00 and set a “hold” rating on the stock in a research note on Friday, January 30th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Tractor Supply in a report on Monday, December 29th. Fifteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $59.78.

Tractor Supply Stock Performance

The company has a 50 day simple moving average of $52.15 and a 200-day simple 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. The stock has a market cap of $24.50 billion, a P/E ratio of 22.50, a price-to-earnings-growth ratio of 2.44 and a beta of 0.72.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings data on Thursday, January 29th. The specialty retailer reported $0.43 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.03). The firm had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $4.03 billion. Tractor Supply had a net margin of 7.06% and a return on equity of 44.36%. Tractor Supply’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.44 earnings per share. On average, equities analysts expect that Tractor Supply Company 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 was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th were given a dividend of $0.24 per share. The ex-dividend date was Tuesday, February 24th. This is an increase from Tractor Supply’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 2.1%. Tractor Supply’s dividend payout ratio (DPR) is 46.38%.

Insider Activity

In other news, CEO Harry A. Lawton III sold 84,670 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $53.16, for a total value of $4,501,057.20. Following the completion of the sale, the chief executive officer directly owned 606,842 shares in the company, valued at approximately $32,259,720.72. The trade was a 12.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jonathan S. Estep sold 59,745 shares of the company’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $54.03, for a total transaction of $3,228,022.35. Following the completion of the sale, the executive vice president directly owned 80,931 shares of the company’s stock, valued at $4,372,701.93. This trade represents a 42.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 222,348 shares of company stock valued at $11,959,621. Insiders own 0.65% of the company’s stock.

Institutional Trading of Tractor Supply

Institutional investors have recently added to or reduced their stakes in the business. Delos Wealth Advisors LLC purchased a new position in shares of Tractor Supply in the second quarter worth about $26,000. JPL Wealth Management LLC purchased a new stake in Tractor Supply during the 3rd quarter valued at about $28,000. Garner Asset Management Corp bought a new position in Tractor Supply during the 4th quarter worth approximately $25,000. Reflection Asset Management purchased a new position in Tractor Supply in the 4th quarter worth approximately $26,000. Finally, Core Wealth Advisors LLC purchased a new position in Tractor Supply in the 4th quarter worth approximately $27,000. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Tractor Supply Company Profile

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.