Tractor Supply (NASDAQ:TSCO) Declares Quarterly Dividend of $0.92

Tractor Supply (NASDAQ:TSCO) declared a quarterly dividend on Wednesday, February 12th, RTT News reports. Stockholders of record on Wednesday, February 26th will be given a dividend of 0.92 per share by the specialty retailer on Tuesday, March 11th. This represents a $3.68 annualized dividend and a dividend yield of 6.53%. The ex-dividend date of this dividend is Wednesday, February 26th. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22.

Tractor Supply has raised its dividend by an average of 28.4% per year over the last three years and has raised its dividend every year for the last 16 years. Tractor Supply has a dividend payout ratio of 38.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Tractor Supply to earn $2.41 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 38.2%.

Tractor Supply Stock Down 2.4 %

NASDAQ TSCO opened at $56.37 on Monday. Tractor Supply has a 12 month low of $46.90 and a 12 month high of $61.53. The company has a market capitalization of $30.10 billion, a P/E ratio of 27.63, a PEG ratio of 2.95 and a beta of 0.84. The company’s 50 day simple moving average is $54.87 and its 200 day simple moving average is $55.56. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20.

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

Insider Activity at Tractor Supply

In related news, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $54.59, for a total value of $4,809,106.05. Following the completion of the sale, the chief executive officer now owns 488,852 shares of the company’s stock, valued at approximately $26,686,430.68. The trade was a 15.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Colin Yankee sold 24,602 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $54.15, for a total transaction of $1,332,198.30. Following the transaction, the executive vice president now directly owns 33,645 shares in the company, valued at $1,821,876.75. The trade was a 42.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 134,143 shares of company stock valued at $7,315,961. 0.24% of the stock is owned by corporate insiders.

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Barclays dropped their price target on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Monday, December 30th. Wells Fargo & Company dropped their target price on shares of Tractor Supply from $65.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Bank of America upped their price target on shares of Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a research report on Thursday, January 16th. Truist Financial decreased their price objective on shares of Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Finally, Evercore ISI raised shares of Tractor Supply from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $59.22.

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.