Tractor Supply (NASDAQ:TSCO) Approves Share Repurchase Program

Tractor Supply (NASDAQ:TSCO - Get Free Report) announced that its board has initiated a stock repurchase program on Thursday, February 13th, RTT News reports. The company plans to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to reacquire up to 3.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.

Tractor Supply Trading Up 0.3 %

Shares of Tractor Supply stock traded up $0.15 during trading on Monday, reaching $57.14. The company's stock had a trading volume of 4,901,294 shares, compared to its average volume of 5,532,087. The company has a market cap of $30.51 billion, a price-to-earnings ratio of 28.01, a PEG ratio of 2.70 and a beta of 0.84. The firm's 50-day moving average is $54.84 and its two-hundred day moving average is $55.34. Tractor Supply has a 52-week low of $46.76 and a 52-week high of $61.53. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 EPS for the quarter, missing the consensus estimate of $2.28 by ($1.84). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. On average, sell-side analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th will be issued a $0.92 dividend. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a dividend yield of 6.44%. Tractor Supply's dividend payout ratio (DPR) is currently 43.14%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Guggenheim reiterated a "buy" rating and issued a $60.00 price target on shares of Tractor Supply in a research report on Friday, January 31st. Truist Financial reduced their target price on Tractor Supply from $63.00 to $60.00 and set a "buy" rating for the company in a report on Friday, January 31st. Barclays lowered their price target 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. UBS Group upped their target price on shares of Tractor Supply from $54.40 to $56.00 and gave the stock a "neutral" rating in a report on Friday, October 25th. Finally, Gordon Haskett lowered shares of Tractor Supply from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, October 24th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Tractor Supply currently has a consensus rating of "Moderate Buy" and an average target price of $59.22.

Insider Activity at Tractor Supply

In other Tractor Supply news, EVP Melissa Kersey sold 9,300 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was 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 in the company, valued at approximately $1,858,876.37. This trade represents a 21.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kurt D. Barton sold 12,146 shares of Tractor Supply stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $56.00, for a total value of $680,176.00. Following the completion of the sale, the chief financial officer now owns 47,715 shares in the company, valued at approximately $2,672,040. This represents a 20.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 134,143 shares of company stock worth $7,315,961 in the last three months. 0.24% of the stock is owned by insiders.

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.