Tractor Supply’s (TSCO) “Outperform” Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group reissued their outperform rating on shares of Tractor Supply (NASDAQ:TSCO) in a report issued on Thursday morning, Benzinga reports. Telsey Advisory Group currently has a $335.00 price target on the specialty retailer’s stock.

TSCO has been the topic of several other reports. JPMorgan Chase & Co. lifted their price objective on Tractor Supply from $260.00 to $290.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Wells Fargo & Company lifted their target price on shares of Tractor Supply from $295.00 to $325.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Citigroup downgraded Tractor Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. Wedbush reiterated a “neutral” rating and issued a $270.00 target price on shares of Tractor Supply in a research note on Friday, July 26th. 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 report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $277.70.

Tractor Supply Stock Performance

NASDAQ TSCO opened at $272.77 on Thursday. The business has a 50 day moving average price of $282.24 and a 200 day moving average price of $273.19. The company has a market capitalization of $29.41 billion, a P/E ratio of 26.56, a PEG ratio of 3.66 and a beta of 0.80. Tractor Supply has a 1-year low of $185.00 and a 1-year high of $307.64. 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 (NASDAQ:TSCO) last posted its earnings results on Thursday, October 24th. The specialty retailer reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.01. The company had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.49 billion. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. Sell-side analysts expect that Tractor Supply will post 10.23 EPS for the current fiscal year.

Tractor Supply Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were given a $1.10 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $4.40 annualized dividend and a dividend yield of 1.61%. Tractor Supply’s payout ratio is 42.84%.

Insider Activity

In related 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 transaction of $6,957,000.48. Following the transaction, the chief financial officer now directly owns 9,683 shares in the company, valued at $2,862,682.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Matthew L. Rubin sold 540 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $262.35, for a total transaction of $141,669.00. Following the completion of the transaction, the senior vice president now owns 5,170 shares in the company, valued at approximately $1,356,349.50. This 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 accessible through the SEC website. Also, CFO Kurt D. Barton sold 23,532 shares of the company’s stock in a transaction dated 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 owns 9,683 shares of the company’s stock, valued at approximately $2,862,682.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On Tractor Supply

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TSCO. Future Financial Wealth Managment LLC bought a new stake in Tractor Supply during the 1st quarter valued at $26,000. LRI Investments LLC acquired a new position in shares of Tractor Supply during the first quarter valued at $28,000. J.Safra Asset Management Corp increased its stake in Tractor Supply by 700.0% during the 1st quarter. J.Safra Asset Management Corp now owns 112 shares of the specialty retailer’s stock valued at $29,000 after buying an additional 98 shares during the period. Whittier Trust Co. raised its position in shares of Tractor Supply by 60.9% during the 2nd quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock worth $30,000 after buying an additional 42 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new stake in shares of Tractor Supply in the 2nd quarter worth approximately $33,000. 98.72% of the stock is owned by institutional investors.

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.