Tractor Supply (NASDAQ:TSCO) Hits New 1-Year Low – What’s Next?

Shares of Tractor Supply Company (NASDAQ:TSCO) reached a new 52-week low on Wednesday . The company traded as low as $44.33 and last traded at $44.53, with a volume of 6106884 shares trading hands. The stock had previously closed at $45.30.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TSCO shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Tractor Supply in a research note on Monday, December 29th. Argus decreased their target price on shares of Tractor Supply from $67.00 to $64.00 and set a “buy” rating for the company in a research note on Monday, February 2nd. The Goldman Sachs Group set a $59.00 target price on shares of Tractor Supply and gave the stock a “buy” rating in a report on Friday, January 30th. DA Davidson reaffirmed a “buy” rating and set a $60.00 price target on shares of Tractor Supply in a research report on Friday, January 30th. Finally, Wolfe Research reiterated an “outperform” rating and issued a $57.00 price target on shares of Tractor Supply in a research note on Friday, January 30th. Fifteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $59.78.

Tractor Supply Stock Down 1.7%

The stock has a market cap of $23.42 billion, a P/E ratio of 21.51, a price-to-earnings-growth ratio of 2.27 and a beta of 0.72. The firm has a 50 day simple moving average of $51.08 and a 200-day simple moving average of $52.93. The company has a quick ratio of 0.16, a current ratio of 1.34 and a debt-to-equity ratio of 0.70.

Tractor Supply (NASDAQ:TSCO) last issued its 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 return on equity of 44.36% and a net margin of 7.06%.The business had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter in the prior year, the firm posted $0.44 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts forecast that Tractor Supply Company will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The business also recently disclosed 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. This represents a $0.96 dividend on an annualized basis and a yield of 2.2%. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Tuesday, February 24th. Tractor Supply’s dividend payout ratio (DPR) is presently 46.38%.

Insider Buying and Selling

In related news, CEO Harry A. Lawton III sold 84,670 shares of Tractor Supply stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $53.16, for a total transaction of $4,501,057.20. Following the completion of the sale, the chief executive officer owned 606,842 shares of the company’s stock, valued at approximately $32,259,720.72. The trade was a 12.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jonathan S. Estep sold 59,745 shares of the company’s stock in a transaction dated 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 transaction, 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 disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 222,348 shares of company stock valued at $11,959,621. 0.65% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tractor Supply

Institutional investors and hedge funds have recently made changes to their positions in the company. Garner Asset Management Corp acquired a new stake in shares of Tractor Supply during the 4th quarter worth $25,000. Delos Wealth Advisors LLC bought a new stake in Tractor Supply during the second quarter worth about $26,000. Reflection Asset Management acquired a new stake in Tractor Supply during the fourth quarter worth about $26,000. Aventura Private Wealth LLC bought a new position in Tractor Supply in the 4th quarter valued at about $27,000. Finally, Core Wealth Advisors LLC acquired a new position in shares of Tractor Supply in the 4th quarter valued at approximately $27,000. Institutional investors and hedge funds own 98.72% of the company’s stock.

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.