Tractor Supply (NASDAQ:TSCO) Shares Down 4.6%

Shares of Tractor Supply (NASDAQ:TSCO) dropped 4.6% on Tuesday . The company traded as low as $264.28 and last traded at $264.57. Approximately 380,691 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 1,129,918 shares. The stock had previously closed at $277.37.

Analyst Upgrades and Downgrades

TSCO has been the topic of a number of research reports. Wedbush reissued a “neutral” rating and issued a $235.00 price objective on shares of Tractor Supply in a report on Tuesday, April 23rd. Benchmark restated a “buy” rating and issued a $256.00 target price on shares of Tractor Supply in a research note on Monday, April 22nd. JPMorgan Chase & Co. upped their target price on Tractor Supply from $241.00 to $263.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. TD Cowen upped their target price on Tractor Supply from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, Truist Financial upped their target price on Tractor Supply from $277.00 to $289.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $254.17.

Tractor Supply Stock Performance

The firm has a market cap of $28.79 billion, a PE ratio of 26.00, a P/E/G ratio of 3.44 and a beta of 0.83. The firm has a 50-day moving average price of $274.16 and a two-hundred day moving average price of $249.68. The company has a quick ratio of 0.19, a current ratio of 1.40 and a debt-to-equity ratio of 0.83.

Tractor Supply (NASDAQ:TSCO) last released its earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.13. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. The business had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter last year, the business posted $1.65 earnings per share. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. Research analysts forecast that Tractor Supply will post 10.34 EPS for the current fiscal year.

Tractor Supply Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Tuesday, May 28th were issued a $1.10 dividend. The ex-dividend date of this dividend was Friday, May 24th. This represents a $4.40 annualized dividend and a dividend yield of 1.65%. Tractor Supply’s dividend payout ratio is presently 42.84%.

Institutional Investors Weigh In On Tractor Supply

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Citizens National Bank Trust Department increased its holdings in shares of Tractor Supply by 0.5% in the fourth quarter. Citizens National Bank Trust Department now owns 9,700 shares of the specialty retailer’s stock valued at $2,086,000 after purchasing an additional 45 shares during the last quarter. Lindbrook Capital LLC increased its holdings in shares of Tractor Supply by 10.9% in the first quarter. Lindbrook Capital LLC now owns 459 shares of the specialty retailer’s stock valued at $120,000 after purchasing an additional 45 shares during the last quarter. Wedmont Private Capital increased its stake in Tractor Supply by 3.6% during the first quarter. Wedmont Private Capital now owns 1,309 shares of the specialty retailer’s stock worth $331,000 after acquiring an additional 45 shares during the last quarter. Wahed Invest LLC increased its stake in Tractor Supply by 2.8% during the fourth quarter. Wahed Invest LLC now owns 1,783 shares of the specialty retailer’s stock worth $383,000 after acquiring an additional 49 shares during the last quarter. Finally, Fidelis Capital Partners LLC increased its stake in Tractor Supply by 5.0% during the fourth quarter. Fidelis Capital Partners LLC now owns 1,116 shares of the specialty retailer’s stock worth $240,000 after acquiring an additional 53 shares during the last quarter. Institutional investors and hedge funds 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.