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

Benchmark reiterated their buy rating on shares of Tractor Supply (NASDAQ:TSCO) in a report issued on Monday, Benzinga reports. The firm currently has a $280.00 price target on the specialty retailer’s stock.

Several other equities analysts have also recently commented on the stock. Melius Research began coverage on shares of Tractor Supply in a research note on Monday, September 23rd. They set a “buy” rating and a $315.00 price objective for the company. Truist Financial lifted their price objective on shares of Tractor Supply from $293.00 to $325.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Citigroup downgraded Tractor Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. Robert W. Baird set a $320.00 price target on shares of Tractor Supply in a research report on Thursday, October 17th. Finally, Loop Capital upped their price objective on shares of Tractor Supply from $250.00 to $260.00 and gave the company a “hold” rating in a research note on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $272.50.

Tractor Supply Trading Up 0.2 %

Shares of TSCO stock opened at $292.09 on Monday. The stock has a market capitalization of $31.49 billion, a price-to-earnings ratio of 28.38, a PEG ratio of 3.74 and a beta of 0.80. The company’s fifty day simple moving average is $281.23 and its two-hundred day simple moving average is $272.74. Tractor Supply has a 1 year low of $185.00 and a 1 year high of $307.64. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.43 and a quick ratio of 0.25.

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

Tractor Supply Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date was Monday, August 26th. Tractor Supply’s dividend payout ratio (DPR) is 42.84%.

Insider Activity at Tractor Supply

In other news, SVP Matthew L. Rubin sold 540 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $262.35, for a total transaction of $141,669.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Matthew L. Rubin sold 540 shares of the company’s 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 sale, the senior vice president now directly owns 5,170 shares in the company, valued at approximately $1,356,349.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kurt D. Barton sold 23,532 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total value of $6,957,000.48. Following the sale, the chief financial officer now directly owns 9,683 shares in the company, valued at $2,862,682.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tractor Supply

Large investors have recently made changes to their positions in the company. Future Financial Wealth Managment LLC purchased a new stake in Tractor Supply in the first quarter worth about $26,000. LRI Investments LLC bought a new position in Tractor Supply in the first quarter worth about $28,000. J.Safra Asset Management Corp lifted its position in shares of Tractor Supply by 700.0% during the first quarter. J.Safra Asset Management Corp now owns 112 shares of the specialty retailer’s stock valued at $29,000 after buying an additional 98 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, OFI Invest Asset Management purchased a new position in shares of Tractor Supply in the 2nd quarter worth approximately $33,000. 98.72% of the stock is owned by hedge funds and other institutional investors.

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.