Tractor Supply (NASDAQ:TSCO) Rating Reiterated by Benchmark

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

Other equities research analysts have also issued research reports about the company. UBS Group upgraded Tractor Supply from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Robert W. Baird set a $320.00 price objective on shares of Tractor Supply in a research note on Thursday. Citigroup lowered shares of Tractor Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 17th. Evercore ISI lowered shares of Tractor Supply from an “outperform” rating to an “in-line” rating and set a $300.00 price objective on the stock. in a report on Thursday, October 3rd. Finally, Piper Sandler raised their target price on Tractor Supply from $300.00 to $332.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Tractor Supply has an average rating of “Moderate Buy” and a consensus target price of $272.50.

Tractor Supply Price Performance

Tractor Supply stock opened at $294.60 on Monday. The firm has a market cap of $31.78 billion, a P/E ratio of 28.30, a P/E/G ratio of 3.74 and a beta of 0.80. The stock’s 50 day moving average is $279.96 and its 200 day moving average is $272.17. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.43 and a quick ratio of 0.25. Tractor Supply has a one year low of $185.00 and a one year high of $307.64.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $3.93 EPS for the quarter, meeting analysts’ consensus estimates of $3.93. Tractor Supply had a net margin of 7.65% and a return on equity of 51.84%. The company had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same period in the prior year, the firm posted $3.83 EPS. The company’s quarterly revenue was up 1.6% on a year-over-year basis. As a group, research analysts expect that Tractor Supply will post 10.23 EPS for the current year.

Tractor Supply Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were given a dividend of $1.10 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $4.40 dividend on an annualized basis and a yield of 1.49%. Tractor Supply’s dividend payout ratio is presently 42.43%.

Insider Activity at Tractor Supply

In other news, CFO Kurt D. Barton sold 23,532 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total value of $6,957,000.48. Following the completion of the transaction, the chief financial officer now directly owns 9,683 shares of the company’s stock, valued at $2,862,682.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Matthew L. Rubin sold 540 shares of Tractor Supply stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $262.35, for a total transaction of $141,669.00. Following the completion of the sale, the senior vice president now owns 5,170 shares in the company, valued at approximately $1,356,349.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kurt D. Barton sold 23,532 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $295.64, for a total transaction of $6,957,000.48. Following the completion of the sale, the chief financial officer now directly owns 9,683 shares in the company, valued at $2,862,682.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted its position in Tractor Supply by 527.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 26,501 shares of the specialty retailer’s stock worth $7,155,000 after buying an additional 22,279 shares during the last quarter. Ballentine Partners LLC increased its holdings in shares of Tractor Supply by 2.1% in the second quarter. Ballentine Partners LLC now owns 4,504 shares of the specialty retailer’s stock worth $1,216,000 after buying an additional 93 shares during the period. Janney Montgomery Scott LLC grew its position in Tractor Supply by 3.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 143,749 shares of the specialty retailer’s stock worth $37,622,000 after acquiring an additional 4,788 shares during the last quarter. Clearbridge Investments LLC boosted its stake in shares of Tractor Supply by 11,952.8% during the first quarter. Clearbridge Investments LLC now owns 241,177 shares of the specialty retailer’s stock valued at $63,121,000 after purchasing an additional 239,176 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of 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 buying an additional 368,859 shares during the period. Institutional investors 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.