Tractor Supply (NASDAQ:TSCO) Given New $58.00 Price Target at Mizuho

Tractor Supply (NASDAQ:TSCO - Free Report) had its target price lowered by Mizuho from $62.00 to $58.00 in a research report sent to investors on Friday morning,Benzinga reports. Mizuho currently has an outperform rating on the specialty retailer's stock.

TSCO has been the topic of several other reports. Bank of America raised their price target on shares of Tractor Supply from $44.00 to $53.00 and gave the stock an "underperform" rating in a research note on Thursday, January 16th. 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 research note on Monday, December 30th. Guggenheim restated 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 cut their price target on Tractor Supply from $63.00 to $60.00 and set a "buy" rating for the company in a report on Friday, January 31st. Finally, Stephens initiated coverage on Tractor Supply in a research note on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $58.47.

Tractor Supply Price Performance

TSCO traded down $0.92 during midday trading on Friday, hitting $49.00. 6,417,434 shares of the company traded hands, compared to its average volume of 5,119,981. Tractor Supply has a 52-week low of $46.85 and a 52-week high of $61.53. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. The business has a 50 day simple moving average of $52.86 and a two-hundred day simple moving average of $54.65. The company has a market capitalization 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 released its earnings results 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). The firm had revenue of $3.47 billion during the quarter, compared to analysts' expectations of $3.55 billion. Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. The business's revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.83 EPS. On average, equities analysts forecast that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

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

Tractor Supply announced that its board has authorized a stock buyback plan on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the specialty retailer to buy up to 3.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling at Tractor Supply

In related news, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total value of $222,106.50. Following the completion of the transaction, the senior vice president now owns 31,787 shares in the company, valued at approximately $1,833,792.03. The trade was a 10.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Harry A. Lawton III sold 88,095 shares of the stock in a transaction on Monday, February 3rd. The shares were 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 approximately $26,686,430.68. The trade was a 15.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 137,993 shares of company stock valued at $7,538,068 over the last quarter. 0.65% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tractor Supply

Large investors have recently bought and sold shares of the stock. Smithfield Trust Co raised its holdings in Tractor Supply by 286.2% in the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock valued at $25,000 after acquiring an additional 352 shares in the last quarter. Coppell Advisory Solutions LLC raised its holdings in shares of Tractor Supply by 944.4% in the 4th quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer's stock valued at $25,000 after purchasing an additional 425 shares in the last quarter. PrairieView Partners LLC raised its holdings in shares of Tractor Supply by 400.0% in the 4th quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer's stock valued at $26,000 after purchasing an additional 400 shares in the last quarter. Future Financial Wealth Managment LLC lifted its position in shares of Tractor Supply by 400.0% during the 4th quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 400 shares during the last quarter. Finally, Archer Investment Corp grew its stake in shares of Tractor Supply by 400.0% during the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 400 shares in the last quarter. Hedge funds and other institutional investors 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.