Tractor Supply (NASDAQ:TSCO – Get Free Report) announced a quarterly dividend on Thursday, May 9th, RTT News reports. Investors of record on Tuesday, May 28th will be given a dividend of 1.10 per share by the specialty retailer on Tuesday, June 11th. This represents a $4.40 annualized dividend and a yield of 1.63%.
Tractor Supply has raised its dividend by an average of 40.1% per year over the last three years and has increased its dividend every year for the last 15 years. Tractor Supply has a payout ratio of 38.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Tractor Supply to earn $11.34 per share next year, which means the company should continue to be able to cover its $4.40 annual dividend with an expected future payout ratio of 38.8%.
Tractor Supply Trading Up 1.1 %
Shares of NASDAQ TSCO opened at $269.70 on Friday. The firm’s 50 day moving average price is $257.31 and its 200-day moving average price is $230.83. The company has a market cap of $29.11 billion, a PE ratio of 26.26, a P/E/G ratio of 3.41 and a beta of 0.82. Tractor Supply has a 52-week low of $185.00 and a 52-week high of $279.38. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.19 and a current ratio of 1.40.
Insider Buying and Selling
In related news, CFO Kurt D. Barton sold 4,335 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the completion of the sale, the chief financial officer now owns 20,678 shares in the company, valued at $5,314,246. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Kurt D. Barton sold 4,335 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the completion of the transaction, the chief financial officer now directly owns 20,678 shares of the company’s stock, valued at $5,314,246. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Colin Yankee sold 8,675 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $250.00, for a total value of $2,168,750.00. Following the transaction, the executive vice president now directly owns 9,673 shares of the company’s stock, valued at $2,418,250. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,470 shares of company stock worth $14,773,121. 0.58% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on the stock. Mizuho reissued a “neutral” rating and set a $250.00 price objective (up from $245.00) on shares of Tractor Supply in a report on Friday, April 26th. Morgan Stanley boosted their price objective on shares of Tractor Supply from $195.00 to $235.00 and gave the company an “underweight” rating in a report on Friday, April 26th. Barclays boosted their price objective on shares of Tractor Supply from $234.00 to $240.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Guggenheim boosted their price objective on shares of Tractor Supply from $210.00 to $255.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Stephens cut shares of Tractor Supply from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $226.00 to $240.00 in a report on Tuesday, January 23rd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Tractor Supply presently has an average rating of “Hold” and an average target price of $253.54.
Read Our Latest Stock Report on TSCO
Tractor Supply Company Profile
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.
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