Tractor Supply (NASDAQ:TSCO) Price Target Lowered to $56.00 at Robert W. Baird

Tractor Supply (NASDAQ:TSCO - Free Report) had its price objective reduced by Robert W. Baird from $63.00 to $56.00 in a report released on Friday morning,Benzinga reports. They currently have an outperform rating on the specialty retailer's stock.

Other equities analysts have also issued reports about the stock. Barclays decreased their target price on shares of Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating on the stock in a report on Monday, December 30th. JPMorgan Chase & Co. raised their target price on Tractor Supply from $58.00 to $59.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Bank of America raised their target price on Tractor Supply from $44.00 to $53.00 and gave the stock an "underperform" rating in a research report on Thursday, January 16th. Guggenheim reiterated a "buy" rating and set a $60.00 price target on shares of Tractor Supply in a report on Friday, January 31st. Finally, Telsey Advisory Group reiterated an "outperform" rating and set a $67.00 price target on shares of Tractor Supply in a report on Thursday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $58.47.

Tractor Supply Stock Performance

Tractor Supply stock traded down $0.92 during midday trading on Friday, hitting $49.00. The company's stock had a trading volume of 6,417,434 shares, compared to its average volume of 5,119,981. Tractor Supply has a 1-year low of $46.85 and a 1-year high of $61.53. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. The company has a 50-day moving average price of $52.86 and a two-hundred day moving average price of $54.65. The company has a market cap of $26.05 billion, a price-to-earnings ratio of 24.02, a PEG ratio of 2.95 and a beta of 0.88.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. The business had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.55 billion. During the same quarter last year, the firm earned $1.83 EPS. Tractor Supply's revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, sell-side analysts predict that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply declared that its Board of Directors has approved a stock buyback program on Thursday, February 13th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the specialty retailer to reacquire up to 3.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were paid a $0.92 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 annualized dividend and a yield of 7.51%. This is an increase from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's dividend payout ratio (DPR) is currently 45.77%.

Insider Transactions at Tractor Supply

In related news, CEO Harry A. Lawton III sold 88,095 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $54.59, for a total value of $4,809,106.05. Following the completion of the sale, the chief executive officer now owns 488,852 shares in the company, valued at $26,686,430.68. The trade was a 15.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Melissa Kersey sold 9,300 shares of the business's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $53.17, for a total value of $494,481.00. Following the completion of the sale, the executive vice president now owns 34,961 shares of the company's stock, valued at $1,858,876.37. The trade was a 21.01 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 137,993 shares of company stock valued at $7,538,068. 0.65% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tractor Supply

Hedge funds and other institutional investors have recently made changes to their positions in the business. CIBC Private Wealth Group LLC increased its stake in shares of Tractor Supply by 385.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,089,542 shares of the specialty retailer's stock worth $59,260,000 after acquiring an additional 865,273 shares in the last quarter. BOK Financial Private Wealth Inc. boosted its holdings in shares of Tractor Supply by 330.2% during the 4th quarter. BOK Financial Private Wealth Inc. now owns 21,355 shares of the specialty retailer's stock valued at $1,133,000 after acquiring an additional 16,391 shares during the last quarter. Blueshift Asset Management LLC boosted its holdings in shares of Tractor Supply by 571.8% during the 4th quarter. Blueshift Asset Management LLC now owns 66,815 shares of the specialty retailer's stock valued at $3,545,000 after acquiring an additional 56,870 shares during the last quarter. Heritage Trust Co purchased a new stake in shares of Tractor Supply during the 4th quarter valued at about $1,829,000. Finally, Callan Family Office LLC purchased a new position in shares of Tractor Supply in the fourth quarter worth approximately $503,000. Institutional investors own 98.72% of the company's stock.

Tractor Supply Company Profile

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.