Tractor Supply (NASDAQ:TSCO) Given Average Recommendation of "Moderate Buy" by Brokerages

Shares of Tractor Supply (NASDAQ:TSCO - Get Free Report) have been given an average rating of "Moderate Buy" by the twenty-three brokerages that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $284.50.

Several equities research analysts recently weighed in on the company. DA Davidson lifted their price objective on Tractor Supply from $300.00 to $325.00 and gave the stock a "buy" rating in a report on Friday, October 25th. JPMorgan Chase & Co. lifted their target price on shares of Tractor Supply from $260.00 to $290.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 16th. Piper Sandler boosted their price target on shares of Tractor Supply from $300.00 to $332.00 and gave the company an "overweight" rating in a research report on Monday, October 14th. Wells Fargo & Company dropped their price target on shares of Tractor Supply from $325.00 to $320.00 and set an "overweight" rating on the stock in a research note on Monday, November 25th. Finally, Citigroup lowered shares of Tractor Supply from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 17th.

Tractor Supply Stock Performance

NASDAQ TSCO traded up $0.18 on Friday, hitting $285.45. 767,666 shares of the stock traded hands, compared to its average volume of 937,368. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.17 and a current ratio of 1.48. The business's fifty day moving average is $284.23 and its two-hundred day moving average is $276.14. Tractor Supply has a 12 month low of $209.00 and a 12 month high of $307.64. The firm has a market capitalization of $30.50 billion, a price-to-earnings ratio of 27.77, a PEG ratio of 3.58 and a beta of 0.83.

Tractor Supply shares are set to split on Friday, December 20th. The 5-1 split was announced on Thursday, December 5th. The newly issued shares will be issued to shareholders after the market closes on Thursday, December 19th.

Tractor Supply Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were given a $1.10 dividend. The ex-dividend date was Monday, November 25th. This represents a $4.40 dividend on an annualized basis and a yield of 1.54%. Tractor Supply's payout ratio is 42.80%.

Insiders Place Their Bets

In other news, CFO Kurt D. Barton sold 23,532 shares of Tractor Supply stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total value of $6,957,000.48. Following the transaction, the chief financial officer now owns 9,683 shares in the company, valued at approximately $2,862,682.12. The trade was a 70.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.24% of the stock is owned by insiders.

Hedge Funds Weigh In On Tractor Supply

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Assenagon Asset Management S.A. grew its holdings in Tractor Supply by 527.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 26,501 shares of the specialty retailer's stock worth $7,155,000 after acquiring an additional 22,279 shares during the last quarter. Blue Trust Inc. grew its position in shares of Tractor Supply by 194.8% in the 2nd quarter. Blue Trust Inc. now owns 569 shares of the specialty retailer's stock worth $149,000 after buying an additional 376 shares during the last quarter. Brookstone Capital Management increased its stake in shares of Tractor Supply by 2.5% during the second quarter. Brookstone Capital Management now owns 1,820 shares of the specialty retailer's stock valued at $507,000 after buying an additional 44 shares during the period. OFI Invest Asset Management bought a new position in shares of Tractor Supply during the second quarter valued at approximately $33,000. Finally, Chesley Taft & Associates LLC boosted its holdings in Tractor Supply by 0.3% in the second quarter. Chesley Taft & Associates LLC now owns 23,369 shares of the specialty retailer's stock valued at $6,310,000 after acquiring an additional 70 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors.

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.