Tractor Supply (NASDAQ:TSCO) Research Coverage Started at Stephens

Stephens initiated coverage on shares of Tractor Supply (NASDAQ:TSCO) in a research note published on Wednesday morning, MarketBeat Ratings reports. The brokerage issued an equal weight rating and a $56.00 target price on the specialty retailer’s stock.

Several other equities analysts also recently commented on the company. JPMorgan Chase & Co. increased their price target on Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Barclays dropped their target price on shares of Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating on the stock in a report on Monday, December 30th. Mizuho upped their price target on shares of Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Truist Financial dropped their price objective on Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Finally, Loop Capital increased their target price on Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Tractor Supply has an average rating of “Moderate Buy” and a consensus target price of $59.07.

Tractor Supply Stock Performance

Shares of TSCO opened at $51.67 on Wednesday. The firm has a market cap of $27.47 billion, a price-to-earnings ratio of 25.33, a price-to-earnings-growth ratio of 2.95 and a beta of 0.88. The company’s fifty day moving average is $54.07 and its 200-day moving average is $55.36. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. Tractor Supply has a 12 month low of $46.97 and a 12 month high of $61.53.

Tractor Supply (NASDAQ:TSCO) last posted its earnings results on Thursday, January 30th. The specialty retailer reported $0.44 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%. Equities analysts expect that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were given 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 annualized dividend and a dividend yield of 7.12%. The ex-dividend date of this dividend was Wednesday, February 26th. Tractor Supply’s payout ratio is 45.10%.

Tractor Supply declared that its board has initiated a stock buyback program on Thursday, February 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the specialty retailer to buy up to 3.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, SVP Matthew L. Rubin sold 3,850 shares of the 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 sale, the senior vice president now directly owns 31,787 shares in the company, valued at $1,833,792.03. This represents a 10.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Harry A. Lawton III sold 88,095 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $54.59, for a total value of $4,809,106.05. Following the completion of the sale, the chief executive officer now owns 488,852 shares of the company’s stock, valued at approximately $26,686,430.68. This trade represents a 15.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 137,993 shares of company stock worth $7,538,068 over the last quarter. Company insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On Tractor Supply

A number of institutional investors and hedge funds have recently modified their holdings of the business. Coppell Advisory Solutions LLC grew its holdings in Tractor Supply by 944.4% during the fourth quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 425 shares during the period. Smithfield Trust Co increased its position in shares of Tractor Supply by 286.2% in the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 352 shares in the last quarter. Future Financial Wealth Managment LLC raised its stake in Tractor Supply by 400.0% during the 4th quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer’s stock worth $27,000 after buying an additional 400 shares during the period. Archer Investment Corp lifted its holdings in Tractor Supply by 400.0% during the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 400 shares in the last quarter. Finally, PrairieView Partners LLC grew its stake in Tractor Supply by 400.0% in the fourth quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 400 shares during the period. 98.72% of the stock is owned by institutional investors.

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.