Tractor Supply (NASDAQ:TSCO) Given Buy Rating at Benchmark

Benchmark reiterated their buy rating on shares of Tractor Supply (NASDAQ:TSCO) in a research report report published on Monday morning, Benzinga reports. They currently have a $256.00 target price on the specialty retailer’s stock.

Several other equities research analysts have also recently weighed in on TSCO. Wedbush upped their price target on Tractor Supply from $200.00 to $235.00 and gave the stock a neutral rating in a research note on Friday, February 2nd. The Goldman Sachs Group upped their price target on Tractor Supply from $230.00 to $262.00 and gave the stock a buy rating in a research note on Friday, February 2nd. Morgan Stanley reaffirmed an underweight rating and issued a $195.00 price target on shares of Tractor Supply in a research note on Tuesday, January 16th. Raymond James cut Tractor Supply from a strong-buy rating to an outperform rating and increased their target price for the stock from $230.00 to $250.00 in a research note on Friday, February 2nd. Finally, Guggenheim increased their target price on Tractor Supply from $210.00 to $255.00 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 given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Tractor Supply has an average rating of Hold and an average target price of $241.65.

Tractor Supply Price Performance

TSCO opened at $253.38 on Monday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.28 and a current ratio of 1.50. Tractor Supply has a 52-week low of $185.00 and a 52-week high of $268.02. The stock has a market capitalization of $27.35 billion, a PE ratio of 25.11, a price-to-earnings-growth ratio of 3.80 and a beta of 0.84. The stock’s 50 day moving average price is $250.24 and its 200-day moving average price is $225.24.

Tractor Supply (NASDAQ:TSCO) last posted its earnings results on Thursday, February 1st. The specialty retailer reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.06. Tractor Supply had a return on equity of 53.60% and a net margin of 7.61%. The firm had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.67 billion. During the same period in the previous year, the firm earned $2.43 earnings per share. The business’s revenue was down 8.6% compared to the same quarter last year. On average, equities research analysts predict that Tractor Supply will post 10.2 EPS for the current year.

Tractor Supply Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were paid a $1.10 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $4.40 annualized dividend and a dividend yield of 1.74%. 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 Transactions at Tractor Supply

In other news, SVP Matthew L. Rubin sold 725 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $238.09, for a total value of $172,615.25. Following the transaction, the senior vice president now owns 5,710 shares of the company’s stock, valued at $1,359,493.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Matthew L. Rubin sold 725 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $238.09, for a total transaction of $172,615.25. Following the completion of the sale, the senior vice president now owns 5,710 shares in the company, valued at $1,359,493.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Harry A. Lawton III sold 20,500 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $232.93, for a total value of $4,775,065.00. Following the sale, the chief executive officer now owns 95,192 shares of the company’s stock, valued at approximately $22,173,072.56. The disclosure for this sale can be found here. Insiders have sold 90,090 shares of company stock valued at $21,201,877 over the last quarter. 0.24% of the stock is currently owned by company insiders.

Institutional Trading of Tractor Supply

Institutional investors have recently made changes to their positions in the business. OFI Invest Asset Management purchased a new stake in shares of Tractor Supply during the third quarter worth about $25,000. Future Financial Wealth Managment LLC purchased a new position in Tractor Supply during the 1st quarter valued at approximately $26,000. Private Wealth Management Group LLC purchased a new position in Tractor Supply during the 4th quarter valued at approximately $27,000. Pinnacle Bancorp Inc. purchased a new position in Tractor Supply during the 4th quarter valued at approximately $28,000. Finally, Rise Advisors LLC grew its holdings in Tractor Supply by 157.1% during the 1st quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock valued at $28,000 after buying an additional 66 shares in 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.