Citigroup Upgrades Tractor Supply (NASDAQ:TSCO) to Strong-Buy

Citigroup upgraded shares of Tractor Supply (NASDAQ:TSCO) from a hold rating to a strong-buy rating in a research report report published on Friday morning, Zacks.com reports.

TSCO has been the topic of several other reports. Telsey Advisory Group reissued an outperform rating and issued a $305.00 target price on shares of Tractor Supply in a research report on Thursday, July 25th. Benchmark restated a buy rating and set a $280.00 target price on shares of Tractor Supply in a research report on Monday, September 30th. Truist Financial boosted their price objective on shares of Tractor Supply from $289.00 to $293.00 and gave the company a buy rating in a research report on Friday, July 26th. Melius Research initiated coverage on Tractor Supply in a research report on Monday, September 23rd. They set a buy rating and a $315.00 target price on the stock. Finally, Wedbush restated a neutral rating and issued a $270.00 price target on shares of Tractor Supply in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $261.70.

Tractor Supply Stock Down 0.4 %

TSCO opened at $293.86 on Friday. The stock has a market capitalization of $31.68 billion, a price-to-earnings ratio of 28.61, a PEG ratio of 3.74 and a beta of 0.80. The firm has a 50 day moving average price of $272.26 and a 200-day moving average price of $269.51. Tractor Supply has a twelve month low of $185.00 and a twelve month high of $298.36. The company has a quick ratio of 0.25, a current ratio of 1.43 and a debt-to-equity ratio of 0.76.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $3.93. The business had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.28 billion. Tractor Supply had a net margin of 7.65% and a return on equity of 51.84%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $3.83 EPS. Equities research analysts forecast that Tractor Supply will post 10.23 earnings per share for the current year.

Tractor Supply Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were given a $1.10 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $4.40 dividend on an annualized basis and a yield of 1.50%. Tractor Supply’s dividend payout ratio is presently 42.84%.

Insider Buying and Selling at Tractor Supply

In other news, SVP Matthew L. Rubin sold 540 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $262.35, for a total transaction of $141,669.00. Following the transaction, the senior vice president now owns 5,170 shares of the company’s stock, valued at approximately $1,356,349.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, SVP Matthew L. Rubin sold 540 shares of Tractor Supply stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $262.35, for a total transaction of $141,669.00. Following the completion of the sale, the senior vice president now owns 5,170 shares in the company, valued at $1,356,349.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kurt D. Barton sold 23,532 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 9,683 shares in the company, valued at $2,862,682.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On Tractor Supply

Several institutional investors have recently made changes to their positions in the company. Future Financial Wealth Managment LLC bought a new position in shares of Tractor Supply in the 1st quarter worth $26,000. LRI Investments LLC bought a new position in Tractor Supply in the first quarter worth about $28,000. Rise Advisors LLC lifted its position in shares of Tractor Supply by 157.1% during the first quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock valued at $28,000 after buying an additional 66 shares during the last quarter. Whittier Trust Co. boosted its holdings in shares of Tractor Supply by 60.9% in the 2nd quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock valued at $30,000 after buying an additional 42 shares in the last quarter. Finally, J.Safra Asset Management Corp grew its position in shares of Tractor Supply by 700.0% in the 1st quarter. J.Safra Asset Management Corp now owns 112 shares of the specialty retailer’s stock worth $29,000 after buying an additional 98 shares during the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

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.