Tractor Supply (NASDAQ:TSCO) Shares Cross Above 50-Day Moving Average – Here’s Why

Shares of Tractor Supply Company (NASDAQ:TSCO) passed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $33.31 and traded as high as $33.66. Tractor Supply shares last traded at $33.65, with a volume of 9,422,764 shares trading hands.

Analysts Set New Price Targets

A number of research firms recently commented on TSCO. UBS Group reaffirmed a “neutral” rating on shares of Tractor Supply in a research note on Monday, October 12th. Truist Financial set a $33.00 price objective on shares of Tractor Supply and gave the stock a “hold” rating in a research note on Monday, October 19th. Wall Street Zen upgraded shares of Tractor Supply from a “sell” rating to a “hold” rating in a research note on Saturday. JPMorgan Chase & Co. raised their target price on shares of Tractor Supply from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, October 23rd. Finally, Evercore restated an “outperform” rating and issued a $40.00 target price on shares of Tractor Supply in a research report on Tuesday, July 7th. Thirteen research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Tractor Supply presently has a consensus rating of “Hold” and a consensus price target of $38.62.

Tractor Supply Trading Up 0.9%

The company has a quick ratio of 0.20, a current ratio of 1.38 and a debt-to-equity ratio of 0.86. The company has a market cap of $17.80 billion, a P/E ratio of 18.25, a PEG ratio of 3.49 and a beta of 0.52. The firm’s 50 day moving average is $33.29 and its two-hundred day moving average is $38.27.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data on Thursday, October 22nd. The specialty retailer reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The company had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.82 billion. Tractor Supply had a return on equity of 40.05% and a net margin of 6.13%. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 earnings per share. As a group, equities research analysts anticipate that Tractor Supply Company will post 1.94 EPS for the current year.

Tractor Supply Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Stockholders of record on Monday, August 24th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, August 24th. Tractor Supply’s dividend payout ratio is 51.61%.

Insider Activity

In other news, Director Edna Morris bought 1,560 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was acquired at an average cost of $32.44 per share, with a total value of $50,606.40. Following the transaction, the director directly owned 279,720 shares of the company’s stock, valued at approximately $9,074,116.80. This represents a 0.56% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andre Hawaux purchased 3,150 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were purchased at an average cost of $31.83 per share, for a total transaction of $100,264.50. Following the completion of the purchase, the director owned 3,150 shares in the company, valued at $100,264.50. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 20,310 shares of company stock worth $652,411 in the last three months. Company insiders own 0.64% of the company’s stock.

Institutional Trading of Tractor Supply

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in Tractor Supply during the 2nd quarter worth approximately $1,500,967,000. State Street Corp boosted its holdings in Tractor Supply by 2.9% in the 2nd quarter. State Street Corp now owns 23,500,716 shares of the specialty retailer’s stock valued at $742,858,000 after purchasing an additional 665,648 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Tractor Supply by 1.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,267,878 shares of the specialty retailer’s stock valued at $238,639,000 after purchasing an additional 89,295 shares during the period. Van ECK Associates Corp grew its position in shares of Tractor Supply by 2,983.6% during the 2nd quarter. Van ECK Associates Corp now owns 5,144,955 shares of the specialty retailer’s stock valued at $162,632,000 after purchasing an additional 4,978,105 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Tractor Supply by 3.1% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,944,848 shares of the specialty retailer’s stock valued at $156,307,000 after buying an additional 150,285 shares during the period. Institutional investors own 98.72% of the company’s stock.

Tractor Supply Company Profile

Tractor Supply Company (NASDAQ:TSCO) is a specialty retailer serving the needs of farmers, ranchers, hobby farmers, pet owners, gardeners and other rural lifestyle customers. The company operates under the Tractor Supply banner and focuses on products that support everyday rural living, land maintenance and animal care.

Its merchandise includes livestock and pet feed, animal health and care products, fencing, hardware, tools, power equipment, lawn and garden supplies, work clothing, footwear, automotive products and seasonal goods.