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

Tractor Supply (NASDAQ:TSCO - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the twenty-one research firms that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation, twelve have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $59.22.

Several equities research analysts recently weighed in on the stock. Telsey Advisory Group restated an "outperform" rating and issued a $67.00 price target on shares of Tractor Supply in a research report on Thursday, January 30th. JPMorgan Chase & Co. boosted their price objective on Tractor Supply from $58.00 to $59.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Loop Capital lifted their target price on Tractor Supply from $53.00 to $58.00 and gave the stock a "hold" rating in a report on Thursday, December 12th. Truist Financial decreased their price target on Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Finally, Mizuho boosted their price objective on shares of Tractor Supply from $60.00 to $62.00 and gave the company an "outperform" rating in a research report on Thursday, January 23rd.

Insider Activity

In other news, EVP Melissa Kersey sold 9,300 shares of Tractor Supply 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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Matthew L. Rubin sold 3,850 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total transaction of $222,106.50. Following the transaction, the senior vice president now owns 31,787 shares of the company's stock, valued at approximately $1,833,792.03. This trade represents a 10.80 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 137,993 shares of company stock worth $7,538,068. Corporate insiders own 0.58% of the company's stock.

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Hedge Funds Weigh In On Tractor Supply

A number of large investors have recently made changes to their positions in TSCO. BOK Financial Private Wealth Inc. raised its stake in Tractor Supply by 330.2% in the fourth quarter. BOK Financial Private Wealth Inc. now owns 21,355 shares of the specialty retailer's stock valued at $1,133,000 after buying an additional 16,391 shares during the last quarter. Blueshift Asset Management LLC increased its holdings in shares of Tractor Supply by 32.7% during the third quarter. Blueshift Asset Management LLC now owns 9,945 shares of the specialty retailer's stock valued at $2,893,000 after acquiring an additional 2,452 shares in the last quarter. Callan Family Office LLC purchased a new position in shares of Tractor Supply in the 4th quarter valued at approximately $503,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Tractor Supply by 379.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 890,898 shares of the specialty retailer's stock worth $47,271,000 after purchasing an additional 704,896 shares in the last quarter. Finally, Citizens Financial Group Inc. RI grew its position in Tractor Supply by 368.7% during the 4th quarter. Citizens Financial Group Inc. RI now owns 7,485 shares of the specialty retailer's stock worth $397,000 after purchasing an additional 5,888 shares during the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

Tractor Supply Price Performance

Shares of NASDAQ:TSCO traded up $0.29 during midday trading on Monday, reaching $54.16. 4,651,442 shares of the company were exchanged, compared to its average volume of 4,892,093. 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 stock has a market cap of $28.92 billion, a PE ratio of 26.55, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. The business's fifty day moving average is $55.02 and its two-hundred day moving average is $55.66. Tractor Supply has a one year low of $48.30 and a one year high of $61.53.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share (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%. As a group, analysts predict that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply declared that its board has initiated a share buyback plan on Thursday, February 13th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to purchase up to 3.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

Tractor Supply Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were given a dividend of $0.92 per share. This is an increase from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a yield of 6.79%. Tractor Supply's dividend payout ratio (DPR) is 45.10%.

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.