Tractor Supply’s (TSCO) “Buy” Rating Reaffirmed at DA Davidson

DA Davidson reaffirmed their buy rating on shares of Tractor Supply (NASDAQ:TSCO) in a research report report published on Thursday,Benzinga reports. The brokerage currently has a $60.00 price objective on the specialty retailer’s stock.

A number of other equities research analysts have also commented on the company. Mizuho decreased their price target on Tractor Supply from $65.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, January 30th. Bank of America assumed coverage on Tractor Supply in a research report on Tuesday, April 7th. They set a “neutral” rating and a $47.00 price target on the stock. TD Cowen lowered their target price on Tractor Supply from $55.00 to $53.00 and set a “hold” rating for the company in a research note on Friday, January 30th. Citigroup lowered their target price on Tractor Supply from $61.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. Finally, Stephens set a $53.00 target price on Tractor Supply and gave the company an “equal weight” rating in a research note on Thursday, January 22nd. Fourteen research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.09.

Tractor Supply Stock Down 0.3%

NASDAQ TSCO opened at $44.63 on Thursday. The firm has a market cap of $23.48 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 2.38 and a beta of 0.75. Tractor Supply has a one year low of $43.23 and a one year high of $63.99. The stock’s 50 day simple moving average is $48.91 and its 200 day simple moving average is $51.86. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.34 and a quick ratio of 0.16.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, January 29th. The specialty retailer reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.03). The business had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $4.03 billion. Tractor Supply had a return on equity of 44.36% and a net margin of 7.06%.The firm’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the company earned $0.44 earnings per share. As a group, sell-side analysts forecast that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th were given a $0.24 dividend. The ex-dividend date was Tuesday, February 24th. This represents a $0.96 annualized dividend and a dividend yield of 2.2%. This is an increase from Tractor Supply’s previous quarterly dividend of $0.23. Tractor Supply’s dividend payout ratio is 46.38%.

Insiders Place Their Bets

In other news, EVP Robert D. Mills sold 62,950 shares of the firm’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $54.12, for a total value of $3,406,854.00. Following the transaction, the executive vice president directly owned 122,834 shares in the company, valued at $6,647,776.08. This trade represents a 33.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Harry A. Lawton III sold 84,670 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $53.16, for a total value of $4,501,057.20. Following the completion of the transaction, the chief executive officer owned 606,842 shares in the company, valued at $32,259,720.72. This represents a 12.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 222,348 shares of company stock worth $11,959,621 over the last three months. Insiders own 0.64% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TSCO. Norges Bank bought a new position in Tractor Supply during the fourth quarter worth about $303,862,000. Victory Capital Management Inc. lifted its holdings in Tractor Supply by 719.1% during the third quarter. Victory Capital Management Inc. now owns 4,508,661 shares of the specialty retailer’s stock worth $256,408,000 after acquiring an additional 3,958,205 shares in the last quarter. Select Equity Group L.P. raised its stake in shares of Tractor Supply by 41.9% in the 2nd quarter. Select Equity Group L.P. now owns 12,713,409 shares of the specialty retailer’s stock valued at $670,887,000 after purchasing an additional 3,753,414 shares during the period. APG Asset Management N.V. raised its stake in shares of Tractor Supply by 505.1% in the 3rd quarter. APG Asset Management N.V. now owns 4,329,556 shares of the specialty retailer’s stock valued at $246,222,000 after purchasing an additional 3,614,097 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Tractor Supply by 18.4% in the 4th quarter. Invesco Ltd. now owns 17,433,611 shares of the specialty retailer’s stock valued at $871,855,000 after purchasing an additional 2,706,819 shares during the period. 98.72% of the stock is currently owned by institutional investors.

Tractor Supply Company Profile

Tractor Supply Company (NASDAQ: TSCO) is a specialty retailer focused on products for the home, farm, ranch and outdoors. The company operates a network of physical retail locations complemented by an e-commerce platform, offering a one-stop source of supplies and equipment for customers with rural and suburban lifestyles. Its merchandise assortment targets a range of needs, from animal and livestock care to maintenance, outdoor power equipment, and seasonal products.

Product categories include animal feed and supplies, pet products, fencing and fencing supplies, equine equipment, lawn and garden tools, work clothing and footwear, and small agricultural and outdoor power equipment.