Tractor Supply (NASDAQ:TSCO) Receives Buy Rating from Benchmark

Benchmark reissued their buy rating on shares of Tractor Supply (NASDAQ:TSCO - Free Report) in a report released on Monday, Benzinga reports. The firm currently has a $280.00 price objective on the specialty retailer's stock.

Several other analysts also recently commented on TSCO. JPMorgan Chase & Co. raised their price objective on shares of Tractor Supply from $260.00 to $290.00 and gave the company a "neutral" rating in a research report on Wednesday, October 16th. Truist Financial increased their price objective on shares of Tractor Supply from $293.00 to $325.00 and gave the company a "buy" rating in a research report on Monday, October 14th. Wells Fargo & Company lifted their target price on Tractor Supply from $295.00 to $325.00 and gave the stock an "overweight" rating in a report on Friday, October 11th. Wedbush reiterated a "neutral" rating and set a $270.00 price target on shares of Tractor Supply in a report on Friday, July 26th. Finally, Loop Capital increased their target price on Tractor Supply from $250.00 to $260.00 and gave the stock a "hold" rating in a research note on Friday, September 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $272.50.

Tractor Supply Trading Down 1.0 %

Shares of Tractor Supply stock traded down $3.02 on Monday, reaching $294.60. 1,238,879 shares of the company's stock were exchanged, compared to its average volume of 1,048,246. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.25 and a current ratio of 1.43. Tractor Supply has a 52 week low of $185.00 and a 52 week high of $307.64. The firm's 50-day moving average is $279.96 and its two-hundred day moving average is $272.17. The company has a market capitalization of $31.78 billion, a P/E ratio of 28.30, a price-to-earnings-growth ratio of 3.74 and a beta of 0.80.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share for the quarter, meeting the consensus estimate of $3.93. The business had revenue of $4.25 billion for the quarter, compared to analysts' expectations of $4.28 billion. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. The business's revenue was up 1.6% on a year-over-year basis. During the same period last year, the business earned $3.83 EPS. Sell-side analysts predict that Tractor Supply will post 10.23 EPS for the current fiscal year.

Tractor Supply Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were paid a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend was Monday, August 26th. Tractor Supply's payout ratio is 42.43%.

Insiders Place Their Bets

In other news, SVP Matthew L. Rubin sold 540 shares of the company's stock in a transaction on Monday, August 12th. The stock was sold at an average price of $262.35, for a total transaction 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 $1,356,349.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Kurt D. Barton sold 23,532 shares of the firm'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 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 Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Matthew L. Rubin sold 540 shares of the firm's 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 sale, the senior vice president now owns 5,170 shares of the company's stock, valued at approximately $1,356,349.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company's stock.

Hedge Funds Weigh In On Tractor Supply

Hedge funds have recently added to or reduced their stakes in the business. Brookstone Capital Management grew its holdings in Tractor Supply by 20.1% during the first quarter. Brookstone Capital Management now owns 1,776 shares of the specialty retailer's stock worth $465,000 after acquiring an additional 297 shares during the period. Future Financial Wealth Managment LLC bought a new stake in shares of Tractor Supply during the 1st quarter worth $26,000. GoalVest Advisory LLC acquired a new stake in shares of Tractor Supply in the first quarter valued at about $2,092,000. Revolve Wealth Partners LLC acquired a new stake in Tractor Supply in the 1st quarter valued at approximately $219,000. Finally, Wealthcare Advisory Partners LLC bought a new position in Tractor Supply during the first quarter worth $332,000. Institutional investors and hedge funds own 98.72% of the company's stock.

About Tractor Supply

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.