Tractor Supply (NASDAQ:TSCO) Sets New 12-Month Low - Here's What Happened

Tractor Supply (NASDAQ:TSCO - Get Free Report) shares reached a new 52-week low during trading on Tuesday . The stock traded as low as $47.65 and last traded at $47.85, with a volume of 5677617 shares. The stock had previously closed at $49.35.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TSCO. Mizuho raised their price target on Tractor Supply from $60.00 to $62.00 and gave the stock an "outperform" rating in a research report on Thursday, January 23rd. Stephens assumed coverage on shares of Tractor Supply in a research note on Wednesday. They issued an "equal weight" rating and a $56.00 target price on the stock. Telsey Advisory Group reissued an "outperform" rating and set a $67.00 price target on shares of Tractor Supply in a research report on Thursday, January 30th. Truist Financial decreased their price objective on shares of Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Finally, Bank of America increased their target price on shares of Tractor Supply from $44.00 to $53.00 and gave the stock an "underperform" rating in a report on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $59.07.

Tractor Supply Stock Up 0.7 %

The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. The company's fifty day moving average price is $54.07 and its 200-day moving average price is $55.36. The stock has a market capitalization of $27.47 billion, a PE ratio of 25.33, a price-to-earnings-growth ratio of 2.95 and a beta of 0.88.

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

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were paid a dividend of $0.92 per share. This is a positive change from Tractor Supply's previous quarterly dividend of $0.22. This represents a $3.68 dividend on an annualized basis and a yield of 7.12%. The ex-dividend date was Wednesday, February 26th. Tractor Supply's dividend payout ratio (DPR) is currently 45.10%.

Tractor Supply declared that its Board of Directors has initiated a stock repurchase program on Thursday, February 13th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the specialty retailer to reacquire up to 3.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is undervalued.

Insider Transactions at Tractor Supply

In other news, EVP Colin Yankee sold 24,602 shares of Tractor Supply stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $54.15, for a total value of $1,332,198.30. Following the completion of the sale, the executive vice president now directly owns 33,645 shares in the company, valued at $1,821,876.75. The trade was a 42.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction of $494,481.00. Following the transaction, the executive vice president now directly owns 34,961 shares of the company's stock, valued at $1,858,876.37. The trade was a 21.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 137,993 shares of company stock worth $7,538,068. Corporate insiders own 0.24% of the company's stock.

Institutional Investors Weigh In On Tractor Supply

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Tractor Supply by 392.5% in the fourth quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer's stock worth $3,397,643,000 after acquiring an additional 51,031,178 shares during the period. Wellington Management Group LLP boosted its position in Tractor Supply by 401.8% in the fourth quarter. Wellington Management Group LLP now owns 23,789,249 shares of the specialty retailer's stock worth $1,262,258,000 after purchasing an additional 19,048,385 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Tractor Supply by 403.3% during the 4th quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer's stock valued at $1,180,932,000 after purchasing an additional 17,834,643 shares during the period. Capital World Investors increased its position in shares of Tractor Supply by 403.7% during the 4th quarter. Capital World Investors now owns 19,433,135 shares of the specialty retailer's stock valued at $1,031,122,000 after purchasing an additional 15,575,311 shares during the last quarter. Finally, Capital International Investors lifted its stake in shares of Tractor Supply by 334.7% in the 4th quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer's stock worth $818,421,000 after purchasing an additional 11,880,010 shares during the period. 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.