Telsey Advisory Group Reiterates “Outperform” Rating for Tractor Supply (NASDAQ:TSCO)

Telsey Advisory Group restated their outperform rating on shares of Tractor Supply (NASDAQ:TSCO) in a research report report published on Thursday morning,Benzinga reports. Telsey Advisory Group currently has a $67.00 target price on the specialty retailer’s stock.

A number of other equities analysts also recently commented on the company. Barclays decreased their target price on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a report on Monday, December 30th. Stephens started coverage on shares of Tractor Supply in a report on Wednesday, April 9th. They issued an “equal weight” rating and a $56.00 price objective for the company. Truist Financial cut their target price on shares of Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Guggenheim reiterated a “buy” rating and set a $60.00 price target on shares of Tractor Supply in a research report on Friday, January 31st. Finally, Mizuho lifted their price objective on Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.07.

Tractor Supply Trading Up 1.5 %

Shares of TSCO opened at $50.11 on Thursday. The firm has a fifty day simple moving average of $53.84 and a two-hundred day simple moving average of $55.19. Tractor Supply has a twelve month low of $46.97 and a twelve month high of $61.53. The stock has a market capitalization of $26.64 billion, a P/E ratio of 24.56, a PEG ratio of 2.95 and a beta of 0.88. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82.

Tractor Supply (NASDAQ:TSCO) last posted its earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.28 by ($1.84). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. On average, research analysts anticipate that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were given a dividend of $0.92 per share. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 annualized dividend and a dividend yield of 7.34%. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s dividend payout ratio (DPR) is 45.10%.

Tractor Supply announced that its Board of Directors has approved a stock repurchase plan on Thursday, February 13th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to repurchase up to 3.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other Tractor Supply news, CFO Kurt D. Barton sold 12,146 shares of Tractor Supply stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $56.00, for a total value of $680,176.00. Following the completion of the sale, the chief financial officer now owns 47,715 shares of the company’s stock, valued at approximately $2,672,040. The trade was a 20.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Matthew L. Rubin sold 3,850 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total value of $222,106.50. Following the transaction, the senior vice president now directly owns 31,787 shares in the company, valued at $1,833,792.03. The trade was a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 137,993 shares of company stock valued at $7,538,068. Corporate insiders own 0.24% of the company’s stock.

Institutional Trading of Tractor Supply

A number of hedge funds have recently bought and sold shares of TSCO. Vanguard Group Inc. grew its stake in shares of Tractor Supply by 392.5% during the 4th quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer’s stock valued at $3,397,643,000 after purchasing an additional 51,031,178 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Tractor Supply by 401.8% in the fourth quarter. Wellington Management Group LLP now owns 23,789,249 shares of the specialty retailer’s stock worth $1,262,258,000 after buying an additional 19,048,385 shares during the last quarter. Alliancebernstein L.P. grew its position in Tractor Supply by 403.3% during the fourth quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer’s stock valued at $1,180,932,000 after buying an additional 17,834,643 shares during the period. Capital World Investors increased its holdings in Tractor Supply by 403.7% during the fourth quarter. Capital World Investors now owns 19,433,135 shares of the specialty retailer’s stock valued at $1,031,122,000 after buying an additional 15,575,311 shares during the last quarter. Finally, Capital International Investors raised its position in Tractor Supply by 334.7% in the fourth quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer’s stock worth $818,421,000 after acquiring an additional 11,880,010 shares during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.

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.