Brokerages Set Tractor Supply Company (NASDAQ:TSCO) PT at $59.78

Shares of Tractor Supply Company (NASDAQ:TSCO) have received a consensus recommendation of “Moderate Buy” from the twenty-five brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $59.7826.

TSCO has been the subject of several analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Tractor Supply in a report on Monday, December 29th. Evercore reaffirmed an “outperform” rating and set a $60.00 price objective on shares of Tractor Supply in a report on Friday, January 30th. Telsey Advisory Group cut their target price on shares of Tractor Supply from $70.00 to $63.00 and set an “outperform” rating for the company in a research note on Thursday, January 29th. Piper Sandler decreased their price target on Tractor Supply from $67.00 to $59.00 and set an “overweight” rating on the stock in a research report on Friday, January 30th. Finally, Citigroup reaffirmed a “buy” rating and set a $61.00 price target (down from $66.00) on shares of Tractor Supply in a report on Friday, January 16th.

Tractor Supply Stock Performance

Shares of NASDAQ:TSCO opened at $43.82 on Friday. 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 business’s fifty day moving average price is $50.50 and its two-hundred day moving average price is $52.61. Tractor Supply has a fifty-two week low of $43.35 and a fifty-two week high of $63.99. The stock has a market capitalization of $23.05 billion, a price-to-earnings ratio of 21.17, a price-to-earnings-growth ratio of 2.19 and a beta of 0.75.

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 the consensus estimate of $4.03 billion. During the same period in the previous year, the business posted $0.44 earnings per share. The firm’s revenue was up 3.3% compared to the same quarter last year. As a group, analysts predict that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th were issued a dividend of $0.24 per share. The ex-dividend date was Tuesday, February 24th. 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 2.2%. Tractor Supply’s dividend payout ratio (DPR) is currently 46.38%.

Insiders Place Their Bets

In other Tractor Supply news, EVP Jonathan S. Estep sold 59,745 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $4,372,701.93. This trade represents a 42.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kurt D. Barton sold 1,929 shares of the business’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $53.94, for a total transaction 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 approximately $2,413,059.84. This represents a 4.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 222,348 shares of company stock valued at $11,959,621 over the last three months. Company insiders own 0.65% of the company’s stock.

Institutional Trading of Tractor Supply

Several hedge funds have recently modified their holdings of TSCO. Delos Wealth Advisors LLC acquired a new position in shares of Tractor Supply during the second quarter valued at $26,000. JPL Wealth Management LLC acquired a new stake in Tractor Supply in the third quarter worth about $28,000. Garner Asset Management Corp bought a new stake in Tractor Supply during the 4th quarter worth about $25,000. Reflection Asset Management bought a new stake in Tractor Supply during the 4th quarter worth about $26,000. Finally, Core Wealth Advisors LLC acquired a new position in Tractor Supply during the 4th quarter valued at about $27,000. 98.72% of the stock is owned by 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.