Tractor Supply (NASDAQ:TSCO) Shares Gap Down Following Weak Earnings

Tractor Supply (NASDAQ:TSCO) shares gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $57.16, but opened at $54.04. Tractor Supply shares last traded at $54.83, with a volume of 1,445,016 shares changing hands.

The specialty retailer reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.28 by ($1.84). Tractor Supply had a net margin of 7.53% and a return on equity of 50.19%.

Tractor Supply Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were given a dividend of $0.22 per share. The ex-dividend date was Monday, November 25th. This represents a $0.88 dividend on an annualized basis and a yield of 1.62%. Tractor Supply’s payout ratio is presently 42.80%.

Wall Street Analyst Weigh In

TSCO has been the topic of a number of research reports. Bank of America upped their target price on shares of Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a research report on Thursday, January 16th. Citigroup downgraded shares of Tractor Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. UBS Group increased their price target on shares of Tractor Supply from $54.40 to $56.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Evercore ISI upgraded shares of Tractor Supply from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 15th. Finally, Wells Fargo & Company cut their price target on shares of Tractor Supply from $65.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Tractor Supply presently has an average rating of “Moderate Buy” and an average price target of $58.58.

Hedge Funds Weigh In On Tractor Supply

Several hedge funds have recently made changes to their positions in the business. Henrickson Nauta Wealth Advisors Inc. grew its stake in shares of Tractor Supply by 3.2% during the 3rd quarter. Henrickson Nauta Wealth Advisors Inc. now owns 1,127 shares of the specialty retailer’s stock worth $328,000 after acquiring an additional 35 shares in the last quarter. Private Advisor Group LLC grew its stake in shares of Tractor Supply by 0.5% during the 3rd quarter. Private Advisor Group LLC now owns 7,693 shares of the specialty retailer’s stock worth $2,238,000 after acquiring an additional 37 shares in the last quarter. Baldwin Investment Management LLC grew its stake in shares of Tractor Supply by 0.3% during the 3rd quarter. Baldwin Investment Management LLC now owns 11,402 shares of the specialty retailer’s stock worth $3,317,000 after acquiring an additional 38 shares in the last quarter. TCI Wealth Advisors Inc. grew its stake in shares of Tractor Supply by 5.1% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 846 shares of the specialty retailer’s stock worth $246,000 after acquiring an additional 41 shares in the last quarter. Finally, Huntington National Bank grew its stake in shares of Tractor Supply by 0.7% during the 3rd quarter. Huntington National Bank now owns 5,538 shares of the specialty retailer’s stock worth $1,611,000 after acquiring an additional 41 shares in the last quarter. 98.72% of the stock is owned by institutional investors.

Tractor Supply Stock Down 5.0 %

The company has a market capitalization of $29.00 billion, a P/E ratio of 26.41, a PEG ratio of 3.31 and a beta of 0.84. The company has a current ratio of 1.48, a quick ratio of 0.17 and a debt-to-equity ratio of 0.81. The firm’s 50 day moving average price is $55.28 and its two-hundred day moving average price is $55.23.

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.