Telsey Advisory Group Reiterates “Outperform” Rating for Tractor Supply (NASDAQ:TSCO)

Telsey Advisory Group reaffirmed their outperform rating on shares of Tractor Supply (NASDAQ:TSCO) in a research note issued to investors on Thursday, Benzinga reports. They currently have a $335.00 price target on the specialty retailer’s stock.

A number of other brokerages have also recently issued reports on TSCO. Wells Fargo & Company upped their price objective on shares of Tractor Supply from $295.00 to $325.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Piper Sandler raised their price objective on Tractor Supply from $300.00 to $332.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Citigroup downgraded Tractor Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. Benchmark restated a “buy” rating and set a $280.00 target price on shares of Tractor Supply in a report on Monday, October 21st. Finally, UBS Group raised Tractor Supply from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Tractor Supply presently has a consensus rating of “Hold” and a consensus target price of $277.70.

Tractor Supply Price Performance

TSCO opened at $272.77 on Thursday. The company has a current ratio of 1.43, a quick ratio of 0.25 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $29.41 billion, a P/E ratio of 26.56, a PEG ratio of 3.66 and a beta of 0.80. The stock has a 50-day moving average price of $282.24 and a 200-day moving average price of $273.33. Tractor Supply has a 12-month low of $185.00 and a 12-month high of $307.64.

Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $3.93. The business had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.28 billion. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. Tractor Supply’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.83 earnings per share. Equities analysts predict that Tractor Supply will post 10.23 earnings per share for the current fiscal year.

Tractor Supply Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were paid a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Monday, August 26th. Tractor Supply’s dividend payout ratio (DPR) is presently 42.84%.

Insider Activity at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 540 shares of Tractor Supply stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $262.35, for a total transaction of $141,669.00. Following the completion of the transaction, the senior vice president now owns 5,170 shares in the company, valued at approximately $1,356,349.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Matthew L. Rubin sold 540 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $262.35, for a total value of $141,669.00. Following the completion of the transaction, the senior vice president now owns 5,170 shares of the company’s stock, valued at approximately $1,356,349.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kurt D. Barton sold 23,532 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total transaction of $6,957,000.48. Following the sale, the chief financial officer now directly owns 9,683 shares in the company, valued at $2,862,682.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On Tractor Supply

A number of hedge funds and other institutional investors have recently made changes to their positions in TSCO. Future Financial Wealth Managment LLC acquired a new stake in Tractor Supply in the 1st quarter worth about $26,000. LRI Investments LLC acquired a new stake in shares of Tractor Supply during the 1st quarter worth $28,000. Whittier Trust Co. raised its position in shares of Tractor Supply by 60.9% in the 2nd quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock worth $30,000 after buying an additional 42 shares during the period. J.Safra Asset Management Corp grew its position in Tractor Supply by 700.0% during the first quarter. J.Safra Asset Management Corp now owns 112 shares of the specialty retailer’s stock valued at $29,000 after acquiring an additional 98 shares during the period. Finally, OFI Invest Asset Management acquired a new stake in Tractor Supply during the second quarter worth about $33,000. 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.