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

Benchmark reaffirmed their buy rating on shares of Tractor Supply (NASDAQ:TSCO) in a research note published on Monday morning, Benzinga reports. The brokerage currently has a $280.00 target price on the specialty retailer’s stock.

A number of other research analysts also recently issued reports on TSCO. Telsey Advisory Group upped their target price on shares of Tractor Supply from $300.00 to $335.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. UBS Group upgraded shares of Tractor Supply from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Citigroup downgraded shares of Tractor Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. Wells Fargo & Company upped their target price on shares of Tractor Supply from $295.00 to $325.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Finally, Truist Financial upped their target price on shares of Tractor Supply from $293.00 to $325.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $272.50.

Tractor Supply Stock Down 6.1 %

Shares of NASDAQ:TSCO opened at $274.29 on Monday. Tractor Supply has a 12 month low of $185.00 and a 12 month high of $307.64. The company’s 50-day moving average price is $282.05 and its two-hundred day moving average price is $272.89. The company has a quick ratio of 0.25, a current ratio of 1.43 and a debt-to-equity ratio of 0.76. The firm has a market cap of $29.59 billion, a P/E ratio of 26.45, a P/E/G ratio of 3.66 and a beta of 0.80.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $3.93 EPS for the quarter, hitting analysts’ consensus estimates of $3.93. Tractor Supply had a net margin of 7.65% and a return on equity of 51.84%. The firm had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same quarter in the prior year, the firm earned $3.83 EPS. The company’s revenue was up 1.6% on a year-over-year basis. As a group, research analysts forecast that Tractor Supply will post 10.23 EPS for the current fiscal year.

Tractor Supply Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were issued a dividend of $1.10 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $4.40 annualized dividend and a yield of 1.60%. Tractor Supply’s dividend payout ratio (DPR) is currently 42.43%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Tractor Supply

Several hedge funds have recently made changes to their positions in the business. Henrickson Nauta Wealth Advisors Inc. grew its stake in shares of Tractor Supply by 3.2% during the 3rd quarter. Henrickson Nauta Wealth Advisors Inc. now owns 1,127 shares of the specialty retailer’s stock worth $328,000 after acquiring an additional 35 shares in the last quarter. Private Advisor Group LLC grew its stake in shares of Tractor Supply by 0.5% during the 3rd quarter. Private Advisor Group LLC now owns 7,693 shares of the specialty retailer’s stock worth $2,238,000 after acquiring an additional 37 shares in the last quarter. Signature Wealth Management Group grew its stake in shares of Tractor Supply by 0.5% in the second quarter. Signature Wealth Management Group now owns 6,999 shares of the specialty retailer’s stock valued at $1,890,000 after buying an additional 38 shares in the last quarter. X Square Capital LLC grew its stake in shares of Tractor Supply by 1.6% in the second quarter. X Square Capital LLC now owns 2,579 shares of the specialty retailer’s stock valued at $696,000 after buying an additional 41 shares in the last quarter. Finally, TCI Wealth Advisors Inc. grew its stake in shares of Tractor Supply by 5.1% in the third quarter. TCI Wealth Advisors Inc. now owns 846 shares of the specialty retailer’s stock valued at $246,000 after buying an additional 41 shares in the last quarter. 98.72% of the stock is owned by institutional investors.

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.