Tractor Supply (NASDAQ:TSCO) to Issue Quarterly Dividend of $1.10

Tractor Supply (NASDAQ:TSCO) announced a quarterly dividend on Wednesday, November 6th,RTT News reports. Shareholders of record on Monday, November 25th will be paid a dividend of 1.10 per share by the specialty retailer on Tuesday, December 10th. This represents a $4.40 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Monday, November 25th.

Tractor Supply has raised its dividend payment by an average of 40.1% per year over the last three years and has raised its dividend annually for the last 15 consecutive years. Tractor Supply has a payout ratio of 39.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Tractor Supply to earn $11.00 per share next year, which means the company should continue to be able to cover its $4.40 annual dividend with an expected future payout ratio of 40.0%.

Tractor Supply Price Performance

Shares of NASDAQ TSCO opened at $281.71 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.48 and a quick ratio of 0.17. The business has a 50-day moving average of $284.18 and a 200-day moving average of $275.51. The stock has a market capitalization of $30.10 billion, a price-to-earnings ratio of 27.40, a PEG ratio of 3.43 and a beta of 0.82. Tractor Supply has a fifty-two week low of $197.00 and a fifty-two week high of $307.64.

Insider Transactions at Tractor Supply

In related news, CFO Kurt D. Barton sold 23,532 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now owns 9,683 shares of the company’s stock, valued at $2,862,682.12. This represents a 70.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on TSCO shares. Raymond James boosted their price target on Tractor Supply from $285.00 to $290.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Melius Research initiated coverage on shares of Tractor Supply in a report on Monday, September 23rd. They set a “buy” rating and a $315.00 target price on the stock. DA Davidson increased their price target on shares of Tractor Supply from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Gordon Haskett lowered shares of Tractor Supply from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, October 24th. Finally, Barclays raised their target price on shares of Tractor Supply from $240.00 to $250.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $282.82.

About Tractor Supply

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.