Tractor Supply (NASDAQ:TSCO) Shares Down 2.5% After Analyst Downgrade

Tractor Supply (NASDAQ:TSCO) shares fell 2.5% on Wednesday after Evercore ISI lowered their price target on the stock from $295.00 to $290.00. Evercore ISI currently has an outperform rating on the stock. Tractor Supply traded as low as $258.69 and last traded at $259.50. 344,618 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 1,152,921 shares. The stock had previously closed at $266.03.

A number of other equities research analysts also recently issued reports on TSCO. 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 report on Monday, March 25th. Raymond James raised their price target on shares of Tractor Supply from $250.00 to $285.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Morgan Stanley upped their price target on shares of Tractor Supply from $195.00 to $235.00 and gave the stock an “underweight” rating in a report on Friday, April 26th. Wedbush reissued a “neutral” rating and set a $235.00 price objective on shares of Tractor Supply in a research note on Tuesday, April 23rd. Finally, TD Cowen boosted their target price on Tractor Supply from $250.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $253.96.

Institutional Trading of Tractor Supply

Hedge funds and other institutional investors have recently modified their holdings of the business. Wedmont Private Capital grew its holdings in Tractor Supply by 3.6% in the first quarter. Wedmont Private Capital now owns 1,309 shares of the specialty retailer’s stock worth $331,000 after purchasing an additional 45 shares during the period. Teachers Retirement System of The State of Kentucky raised its stake in Tractor Supply by 998.2% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 109,403 shares of the specialty retailer’s stock valued at $23,525,000 after buying an additional 99,441 shares during the last quarter. Scotia Capital Inc. grew its stake in shares of Tractor Supply by 792.9% in the fourth quarter. Scotia Capital Inc. now owns 19,438 shares of the specialty retailer’s stock worth $4,180,000 after acquiring an additional 17,261 shares during the last quarter. WCM Investment Management LLC purchased a new stake in shares of Tractor Supply in the fourth quarter worth $782,000. Finally, Vanguard Group Inc. increased its holdings in shares of Tractor Supply by 0.4% during 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 acquiring an additional 48,439 shares in the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

Tractor Supply Trading Down 2.4 %

The stock has a market cap of $27.98 billion, a PE ratio of 25.90, a price-to-earnings-growth ratio of 3.51 and a beta of 0.81. The firm has a 50-day moving average price of $275.40 and a 200-day moving average price of $251.29. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.19 and a current ratio of 1.40.

Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.13. The firm had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.40 billion. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The business’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.65 earnings per share. As a group, equities analysts anticipate that Tractor Supply will post 10.34 EPS for the current fiscal year.

Tractor Supply Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 28th were issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date was Friday, May 24th. Tractor Supply’s payout ratio is presently 42.84%.

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.