Benchmark Reiterates Buy Rating for Tractor Supply (NASDAQ:TSCO)

Benchmark reiterated their buy rating on shares of Tractor Supply (NASDAQ:TSCOFree Report) in a report published on Wednesday morning, Benzinga reports. They currently have a $256.00 target price on the specialty retailer’s stock.

A number of other analysts also recently weighed in on the company. Wedbush increased their price target on Tractor Supply from $200.00 to $235.00 and gave the stock a neutral rating in a report on Friday, February 2nd. Bank of America downgraded Tractor Supply from a neutral rating to an underperform rating and lowered their target price for the stock from $207.00 to $171.00 in a report on Friday, December 15th. Mizuho initiated coverage on Tractor Supply in a report on Tuesday, March 19th. They set a neutral rating and a $245.00 price target on the stock. The Goldman Sachs Group lifted their price objective on shares of Tractor Supply from $230.00 to $262.00 and gave the company a buy rating in a research note on Friday, February 2nd. Finally, Raymond James lowered shares of Tractor Supply from a strong-buy rating to an outperform rating and increased their target price for the stock from $230.00 to $250.00 in a research note on Friday, February 2nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $239.83.

View Our Latest Report on Tractor Supply

Tractor Supply Price Performance

Tractor Supply stock opened at $252.14 on Wednesday. The stock’s 50 day moving average is $245.40 and its 200 day moving average is $221.08. Tractor Supply has a one year low of $185.00 and a one year high of $268.02. The firm has a market cap of $27.21 billion, a P/E ratio of 24.99, a P/E/G ratio of 3.88 and a beta of 0.84. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.50 and a quick ratio of 0.28.

Tractor Supply (NASDAQ:TSCOGet Free Report) last issued its quarterly earnings results on Thursday, February 1st. The specialty retailer reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.06. Tractor Supply had a net margin of 7.61% and a return on equity of 53.60%. The firm had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.67 billion. During the same quarter in the previous year, the company earned $2.43 EPS. The company’s revenue for the quarter was down 8.6% on a year-over-year basis. As a group, research analysts expect that Tractor Supply will post 10.19 EPS for the current year.

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.75%. This is an increase from Tractor Supply’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Friday, February 23rd. Tractor Supply’s payout ratio is currently 43.61%.

Insider Transactions at Tractor Supply

In related news, CFO Kurt D. Barton sold 4,335 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the transaction, the chief financial officer now directly owns 20,678 shares in the company, valued at $5,314,246. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Tractor Supply news, CFO Kurt D. Barton sold 4,335 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $257.00, for a total value of $1,114,095.00. Following the transaction, the chief financial officer now owns 20,678 shares of the company’s stock, valued at $5,314,246. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Colin Yankee sold 8,675 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $250.00, for a total value of $2,168,750.00. Following the sale, the executive vice president now directly owns 9,673 shares of the company’s stock, valued at $2,418,250. The disclosure for this sale can be found here. Insiders sold a total of 90,090 shares of company stock worth $21,201,877 in the last quarter. 0.24% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pacific Center for Financial Services purchased a new position in Tractor Supply in the first quarter valued at approximately $26,000. Compass Wealth Management LLC bought a new stake in shares of Tractor Supply in the fourth quarter valued at $25,000. Private Wealth Management Group LLC purchased a new position in shares of Tractor Supply during the 4th quarter valued at $27,000. OFI Invest Asset Management bought a new position in shares of Tractor Supply during the 3rd quarter worth $25,000. Finally, ST Germain D J Co. Inc. purchased a new stake in Tractor Supply in the 2nd quarter worth about $29,000. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

About Tractor Supply

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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.

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Analyst Recommendations for Tractor Supply (NASDAQ:TSCO)

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