Wedbush Reaffirms Neutral Rating for Tractor Supply (NASDAQ:TSCO)

Wedbush restated their neutral rating on shares of Tractor Supply (NASDAQ:TSCO) in a research report sent to investors on Tuesday, Benzinga reports. The firm currently has a $235.00 price target on the specialty retailer’s stock.

Other analysts have also issued reports about the stock. Benchmark reiterated a buy rating and set a $256.00 target price on shares of Tractor Supply in a report on Monday. Wells Fargo & Company increased their price target on shares of Tractor Supply from $250.00 to $285.00 and gave the stock an overweight rating in a research note on Monday, March 25th. Morgan Stanley reissued an underweight rating and issued a $195.00 price target on shares of Tractor Supply in a research note on Tuesday, January 16th. Mizuho initiated coverage on shares of Tractor Supply in a research note on Tuesday, March 19th. They issued a neutral rating and a $245.00 price target for the company. Finally, The Goldman Sachs Group increased their price target on shares of Tractor Supply from $230.00 to $262.00 and gave the stock a buy rating in a research note on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $241.65.

Tractor Supply Stock Performance

Tractor Supply stock opened at $255.96 on Tuesday. The company has a current ratio of 1.50, a quick ratio of 0.28 and a debt-to-equity ratio of 0.82. The firm has a 50-day moving average of $250.69 and a 200-day moving average of $225.60. The firm has a market cap of $27.63 billion, a P/E ratio of 25.37, a P/E/G ratio of 3.80 and a beta of 0.84. Tractor Supply has a 1-year low of $185.00 and a 1-year high of $268.02.

Tractor Supply (NASDAQ:TSCO) last posted its earnings results on Thursday, February 1st. The specialty retailer reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.06. The company had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.67 billion. Tractor Supply had a net margin of 7.61% and a return on equity of 53.60%. Tractor Supply’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.43 earnings per share. Sell-side analysts expect that Tractor Supply will post 10.2 EPS for the current year.

Tractor Supply Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were given a dividend of $1.10 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $4.40 annualized dividend and a dividend yield of 1.72%. This is an increase from Tractor Supply’s previous quarterly dividend of $1.03. Tractor Supply’s dividend payout ratio (DPR) is 43.61%.

Insider Activity at Tractor Supply

In related news, EVP Colin Yankee sold 8,675 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $250.00, for a total transaction of $2,168,750.00. Following the completion of the sale, the executive vice president now owns 9,673 shares of the company’s stock, valued at $2,418,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Kurt D. Barton sold 401 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $232.06, for a total transaction of $93,056.06. Following the completion of the sale, the chief financial officer now owns 25,013 shares of the company’s stock, valued at $5,804,516.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Colin Yankee sold 8,675 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $250.00, for a total transaction 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 approximately $2,418,250. The disclosure for this sale can be found here. Insiders sold 90,090 shares of company stock valued at $21,201,877 over the last 90 days. Corporate insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On Tractor Supply

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. WCM Investment Management LLC purchased a new stake in Tractor Supply in the fourth quarter worth approximately $782,000. LPL Financial LLC boosted its holdings in Tractor Supply by 4.6% in the third quarter. LPL Financial LLC now owns 113,873 shares of the specialty retailer’s stock worth $23,122,000 after purchasing an additional 5,014 shares during the last quarter. Impax Asset Management Group plc boosted its holdings in Tractor Supply by 2,120.1% in the fourth quarter. Impax Asset Management Group plc now owns 121,817 shares of the specialty retailer’s stock worth $26,194,000 after purchasing an additional 116,330 shares during the last quarter. Simon Quick Advisors LLC boosted its holdings in Tractor Supply by 21.1% in the third quarter. Simon Quick Advisors LLC now owns 1,551 shares of the specialty retailer’s stock worth $315,000 after purchasing an additional 270 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in Tractor Supply by 32,987.5% in the fourth quarter. International Assets Investment Management LLC now owns 270,325 shares of the specialty retailer’s stock worth $58,128,000 after purchasing an additional 269,508 shares during 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.