Tractor Supply (NASDAQ:TSCO) Receives “Buy” Rating from Benchmark

Benchmark reiterated their buy rating on shares of Tractor Supply (NASDAQ:TSCO) in a report published on Monday, Benzinga reports. They currently have a $280.00 price target on the specialty retailer’s stock.

TSCO has been the subject of several other research reports. Melius Research started coverage on Tractor Supply in a research report on Monday, September 23rd. They issued a buy rating and a $315.00 price target for the company. Evercore ISI lowered their price target on Tractor Supply from $290.00 to $280.00 and set an outperform rating for the company in a research report on Friday, July 26th. Loop Capital boosted their price objective on shares of Tractor Supply from $250.00 to $260.00 and gave the company a hold rating in a research report on Friday, September 6th. Wedbush restated a neutral rating and issued a $270.00 target price on shares of Tractor Supply in a report on Friday, July 26th. Finally, Truist Financial upped their price target on shares of Tractor Supply from $289.00 to $293.00 and gave the company a buy rating in a report on Friday, July 26th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Tractor Supply has an average rating of Hold and a consensus target price of $261.70.

Tractor Supply Trading Down 2.1 %

Shares of Tractor Supply stock opened at $291.85 on Monday. Tractor Supply has a twelve month low of $185.00 and a twelve month high of $298.36. The company has a quick ratio of 0.25, a current ratio of 1.43 and a debt-to-equity ratio of 0.76. The business has a 50-day moving average price of $270.35 and a 200-day moving average price of $268.71. The firm has a market cap of $31.46 billion, a price-to-earnings ratio of 28.29, a PEG ratio of 3.59 and a beta of 0.80.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $3.93. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. The business had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter in the previous year, the company posted $3.83 EPS. The company’s revenue was up 1.6% compared to the same quarter last year. Equities research analysts anticipate that Tractor Supply will post 10.23 EPS for the current fiscal year.

Tractor Supply Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were issued a dividend of $1.10 per share. The ex-dividend date was Monday, August 26th. This represents a $4.40 dividend on an annualized basis and a yield of 1.51%. Tractor Supply’s dividend payout ratio is currently 42.84%.

Insider Buying and Selling at Tractor Supply

In other news, SVP Matthew L. Rubin sold 540 shares of the business’s stock in a transaction on Monday, August 12th. The stock was 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 directly owns 5,170 shares of the company’s stock, valued at approximately $1,356,349.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, SVP Matthew L. Rubin sold 540 shares of the firm’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 sale, the senior vice president now directly owns 5,170 shares in the company, valued at approximately $1,356,349.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kurt D. Barton sold 23,532 shares of Tractor Supply stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now directly owns 9,683 shares in the company, valued at approximately $2,862,682.12. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On Tractor Supply

Large investors have recently made changes to their positions in the business. Czech National Bank boosted its position in shares of Tractor Supply by 7.0% in the 3rd quarter. Czech National Bank now owns 21,974 shares of the specialty retailer’s stock worth $6,393,000 after purchasing an additional 1,429 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in Tractor Supply in the second quarter valued at about $13,353,000. Clearbridge Investments LLC boosted its holdings in Tractor Supply by 67.4% in the second quarter. Clearbridge Investments LLC now owns 403,710 shares of the specialty retailer’s stock worth $109,002,000 after acquiring an additional 162,533 shares in the last quarter. Fiera Capital Corp grew its stake in shares of Tractor Supply by 41.8% during the second quarter. Fiera Capital Corp now owns 25,521 shares of the specialty retailer’s stock worth $6,891,000 after acquiring an additional 7,523 shares during the last quarter. Finally, Quarry LP increased its holdings in shares of Tractor Supply by 7,700.0% during the second quarter. Quarry LP now owns 156 shares of the specialty retailer’s stock valued at $42,000 after acquiring an additional 154 shares in the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

About Tractor Supply

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.