Tractor Supply’s (TSCO) Neutral Rating Reaffirmed at Wedbush

Wedbush restated their neutral rating on shares of Tractor Supply (NASDAQ:TSCO) in a research report report published on Tuesday, Benzinga reports. Wedbush currently has a $235.00 price target on the specialty retailer’s stock.

A number of other equities research analysts also recently weighed in on TSCO. Guggenheim raised their target price on Tractor Supply from $210.00 to $255.00 and gave the company a buy rating in a report on Friday, February 2nd. UBS Group raised their target price on Tractor Supply from $220.00 to $240.00 and gave the company a neutral rating in a report on Friday, February 2nd. Wells Fargo & Company raised their target price on Tractor Supply from $250.00 to $285.00 and gave the company an overweight rating in a report on Monday, March 25th. Truist Financial raised their target price on Tractor Supply from $256.00 to $277.00 and gave the company a buy rating in a report on Tuesday, April 2nd. Finally, Barclays raised their target price on Tractor Supply from $192.00 to $234.00 and gave the company an equal weight rating in a report on Wednesday, April 17th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Tractor Supply presently has a consensus rating of Hold and a consensus target price of $241.65.

Tractor Supply Price Performance

Shares of NASDAQ TSCO opened at $255.96 on Tuesday. The firm has a market cap of $27.63 billion, a P/E ratio of 25.37, a price-to-earnings-growth ratio of 3.80 and a beta of 0.84. The company has a current ratio of 1.50, a quick ratio of 0.28 and a debt-to-equity ratio of 0.82. Tractor Supply has a 1-year low of $185.00 and a 1-year high of $268.02. The business’s 50 day moving average is $250.69 and its 200-day moving average is $225.60.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Thursday, February 1st. The specialty retailer reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.06. The business had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.67 billion. Tractor Supply had a return on equity of 53.60% and a net margin of 7.61%. The firm’s quarterly revenue was down 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.43 earnings per share. Equities research analysts predict that Tractor Supply will post 10.2 earnings per share for the current year.

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were paid a dividend of $1.10 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $4.40 dividend on an annualized basis and a yield of 1.72%. This is an increase from Tractor Supply’s previous quarterly dividend of $1.03. Tractor Supply’s payout ratio is 43.61%.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, CFO Kurt D. Barton sold 4,335 shares of Tractor Supply stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the completion of the transaction, the chief financial officer now owns 20,678 shares in the company, valued at approximately $5,314,246. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Tractor Supply news, EVP Colin Yankee sold 8,675 shares of Tractor Supply stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $250.00, for a total transaction of $2,168,750.00. Following the completion of the transaction, the executive vice president now owns 9,673 shares in the company, valued at approximately $2,418,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kurt D. Barton sold 4,335 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $257.00, for a total value of $1,114,095.00. Following the completion of the transaction, the chief financial officer now owns 20,678 shares in the company, valued at approximately $5,314,246. The disclosure for this sale can be found here. In the last quarter, insiders sold 90,090 shares of company stock worth $21,201,877. Insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On Tractor Supply

A number of hedge funds and other institutional investors have recently modified their holdings of TSCO. Wellington Management Group LLP boosted its stake in shares of Tractor Supply by 9,370.6% in the 3rd quarter. Wellington Management Group LLP now owns 2,822,151 shares of the specialty retailer’s stock worth $573,038,000 after buying an additional 2,792,352 shares during the last quarter. Norges Bank purchased a new position in shares of Tractor Supply in the 4th quarter worth approximately $260,560,000. Invesco Ltd. boosted its stake in shares of Tractor Supply by 76.7% in the 3rd quarter. Invesco Ltd. now owns 2,024,182 shares of the specialty retailer’s stock worth $411,010,000 after buying an additional 878,874 shares during the last quarter. Capital World Investors boosted its stake in shares of Tractor Supply by 10.0% in the 4th quarter. Capital World Investors now owns 5,849,188 shares of the specialty retailer’s stock worth $1,257,751,000 after buying an additional 531,170 shares during the last quarter. Finally, Capital International Investors boosted its stake in shares of Tractor Supply by 7.6% in the 4th quarter. Capital International Investors now owns 6,233,852 shares of the specialty retailer’s stock worth $1,340,589,000 after buying an additional 439,954 shares during the last quarter. Hedge funds and other 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.