Tractor Supply (NASDAQ:TSCO) Trading Down 2.5% on Analyst Downgrade

Tractor Supply (NASDAQ:TSCO) shares traded down 2.5% during trading on Wednesday after Evercore ISI lowered their price target on the stock from $295.00 to $290.00. Evercore ISI currently has an outperform rating on the stock. Tractor Supply traded as low as $258.69 and last traded at $259.50. 344,618 shares traded hands during trading, a decline of 70% from the average session volume of 1,152,921 shares. The stock had previously closed at $266.03.

Other equities research analysts have also issued research reports about the stock. Barclays raised their price target on shares of Tractor Supply from $234.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Piper Sandler raised their target price on Tractor Supply from $265.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. Telsey Advisory Group upped their price target on Tractor Supply from $280.00 to $305.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Benchmark reissued a “buy” rating and issued a $256.00 price objective on shares of Tractor Supply in a report on Monday, April 22nd. Finally, Mizuho reaffirmed a “neutral” rating and set a $250.00 price objective (up from $245.00) on shares of Tractor Supply in a report on Friday, April 26th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $253.96.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Tractor Supply by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 12,804,873 shares of the specialty retailer’s stock worth $2,753,432,000 after buying an additional 48,439 shares in the last quarter. Capital International Investors grew its holdings in shares of Tractor Supply by 7.6% during the 4th quarter. Capital International Investors now owns 6,233,852 shares of the specialty retailer’s stock valued at $1,340,589,000 after purchasing an additional 439,954 shares during the last quarter. Capital World Investors grew its holdings in shares of Tractor Supply by 10.0% during the 4th quarter. Capital World Investors now owns 5,849,188 shares of the specialty retailer’s stock valued at $1,257,751,000 after purchasing an additional 531,170 shares during the last quarter. Wellington Management Group LLP raised its position in Tractor Supply by 63.2% in the 4th quarter. Wellington Management Group LLP now owns 4,606,455 shares of the specialty retailer’s stock worth $990,526,000 after purchasing an additional 1,784,304 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in Tractor Supply by 12.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,330,621 shares of the specialty retailer’s stock worth $871,691,000 after purchasing an additional 368,859 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors.

Tractor Supply Trading Down 1.6 %

The firm’s 50-day simple moving average is $275.40 and its 200-day simple moving average is $251.43. The firm has a market capitalization of $28.21 billion, a PE ratio of 25.48, a price-to-earnings-growth ratio of 3.46 and a beta of 0.81. 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 issued 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. The company had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.40 billion. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. Tractor Supply’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.65 EPS. Equities analysts expect that Tractor Supply will post 10.34 earnings per share for the current year.

Tractor Supply Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Tuesday, May 28th were issued a dividend of $1.10 per share. The ex-dividend date of this dividend was Friday, May 24th. This represents a $4.40 dividend on an annualized basis and a yield of 1.68%. Tractor Supply’s dividend payout ratio is currently 42.84%.

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.