Tractor Supply (NASDAQ:TSCO) Cut to “In-Line” at Evercore ISI

Evercore ISI downgraded shares of Tractor Supply (NASDAQ:TSCO) from an outperform rating to an in-line rating in a report released on Thursday morning, Marketbeat Ratings reports. They currently have $300.00 price objective on the specialty retailer’s stock.

Other equities research analysts have also recently issued reports about the company. Benchmark reaffirmed a buy rating and issued a $280.00 target price on shares of Tractor Supply in a report on Monday, September 30th. Melius Research assumed coverage on Tractor Supply in a research note on Monday, September 23rd. They issued a buy rating and a $315.00 price objective on the stock. Wells Fargo & Company increased their target price on Tractor Supply from $285.00 to $295.00 and gave the company an overweight rating in a research report on Monday, July 22nd. Loop Capital upped their price target on shares of Tractor Supply from $250.00 to $260.00 and gave the company a hold rating in a research note on Friday, September 6th. Finally, Truist Financial lifted their price objective on shares of Tractor Supply from $289.00 to $293.00 and gave the stock a buy rating in a research note on Friday, July 26th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Tractor Supply presently has an average rating of Hold and a consensus price target of $261.70.

Tractor Supply Stock Performance

NASDAQ:TSCO opened at $294.97 on Thursday. The stock has a 50-day moving average price of $271.68 and a 200 day moving average price of $269.14. The company has a current ratio of 1.43, a quick ratio of 0.25 and a debt-to-equity ratio of 0.76. Tractor Supply has a 12-month low of $185.00 and a 12-month high of $298.36. The stock has a market capitalization of $31.82 billion, a P/E ratio of 28.72, a P/E/G ratio of 3.74 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, meeting the consensus estimate of $3.93. Tractor Supply had a net margin of 7.65% and a return on equity of 51.84%. The firm had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.28 billion. During the same quarter last year, the business posted $3.83 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. Equities research analysts forecast that Tractor Supply will post 10.23 EPS for the current fiscal year.

Tractor Supply Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend was Monday, August 26th. Tractor Supply’s dividend payout ratio is currently 42.84%.

Insider Transactions at Tractor Supply

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

Institutional Investors Weigh In On Tractor Supply

Several hedge funds have recently modified their holdings of TSCO. Wedmont Private Capital lifted its holdings 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 buying an additional 45 shares during the period. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Tractor Supply by 998.2% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 109,403 shares of the specialty retailer’s stock worth $23,525,000 after purchasing an additional 99,441 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Tractor Supply by 527.7% during the second quarter. Assenagon Asset Management S.A. now owns 26,501 shares of the specialty retailer’s stock valued at $7,155,000 after purchasing an additional 22,279 shares in the last quarter. Vanguard Group Inc. grew 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 valued at $2,753,432,000 after purchasing an additional 48,439 shares during the last quarter. Finally, Congress Asset Management Co. MA raised its holdings in Tractor Supply by 7.2% in the first quarter. Congress Asset Management Co. MA now owns 163,875 shares of the specialty retailer’s stock worth $42,889,000 after purchasing an additional 10,980 shares in the last quarter. Hedge funds and other 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.