Citigroup cut shares of Tractor Supply (NASDAQ:TSCO - Free Report) from a strong-buy rating to a hold rating in a research note released on Thursday, Zacks.com reports.
Several other research analysts also recently issued reports on the company. UBS Group raised Tractor Supply from a "hold" rating to a "strong-buy" rating in a report on Friday, October 4th. JPMorgan Chase & Co. upped their price target on Tractor Supply from $260.00 to $290.00 and gave the company a "neutral" rating in a research note on Wednesday. Melius Research initiated coverage on Tractor Supply in a research report on Monday, September 23rd. They issued a "buy" rating and a $315.00 price objective for the company. Robert W. Baird set a $320.00 target price on shares of Tractor Supply in a research report on Thursday. Finally, Wedbush reiterated a "neutral" rating and set a $270.00 price target on shares of Tractor Supply in a research report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $272.50.
View Our Latest Stock Analysis on TSCO
Tractor Supply Price Performance
Shares of TSCO traded down $0.70 on Thursday, hitting $297.62. The company's stock had a trading volume of 823,620 shares, compared to its average volume of 1,047,423. The company has a market capitalization of $32.09 billion, a PE ratio of 28.98, a PEG ratio of 3.81 and a beta of 0.80. Tractor Supply has a fifty-two week low of $185.00 and a fifty-two week high of $307.64. The company has a 50 day moving average price of $279.96 and a 200 day moving average price of $272.03. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.43 and a quick ratio of 0.25.
Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $3.93 EPS for the quarter, hitting analysts' consensus estimates of $3.93. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. The company had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same quarter in the previous year, the firm earned $3.83 earnings per share. The business's revenue was up 1.6% on a year-over-year basis. On average, research analysts anticipate that Tractor Supply will post 10.23 earnings per share for the current fiscal year.
Tractor Supply Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Monday, August 26th. Tractor Supply's dividend payout ratio (DPR) is presently 42.84%.
Insider Buying and Selling
In related news, CFO Kurt D. Barton sold 23,532 shares of the firm's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $295.64, for a total transaction of $6,957,000.48. Following the sale, the chief financial officer now directly owns 9,683 shares in the company, valued at $2,862,682.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Kurt D. Barton sold 23,532 shares of the company's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total transaction of $6,957,000.48. Following the completion of the transaction, the chief financial officer now directly owns 9,683 shares of the company's stock, valued at $2,862,682.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Matthew L. Rubin sold 540 shares of Tractor Supply stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $262.35, for a total value of $141,669.00. Following the completion of the sale, the senior vice president now directly owns 5,170 shares in the company, valued at approximately $1,356,349.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.24% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its holdings in Tractor Supply by 12.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,330,621 shares of the specialty retailer's stock worth $871,691,000 after acquiring an additional 368,859 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Tractor Supply by 2,921.4% in the second quarter. Marshall Wace LLP now owns 357,225 shares of the specialty retailer's stock valued at $96,451,000 after buying an additional 345,402 shares in the last quarter. Clearbridge Investments LLC increased its holdings in Tractor Supply by 11,952.8% during the first quarter. Clearbridge Investments LLC now owns 241,177 shares of the specialty retailer's stock worth $63,121,000 after buying an additional 239,176 shares during the last quarter. Employees Retirement System of Texas bought a new stake in Tractor Supply during the second quarter worth $38,070,000. Finally, Swedbank AB bought a new stake in Tractor Supply during the first quarter worth $34,262,000. Institutional investors and hedge funds own 98.72% of the company's stock.
About Tractor Supply
(
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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.
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