Tractor Supply (NASDAQ:TSCO) Hits New 52-Week Low – Time to Sell?

Shares of Tractor Supply Company (NASDAQ:TSCO) reached a new 52-week low on Tuesday . The company traded as low as $44.44 and last traded at $45.47, with a volume of 1012024 shares traded. The stock had previously closed at $45.67.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on TSCO shares. Wall Street Zen lowered shares of Tractor Supply from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Citigroup reissued a “buy” rating and issued a $61.00 price objective (down from $66.00) on shares of Tractor Supply in a report on Friday, January 16th. Truist Financial set a $55.00 target price on Tractor Supply and gave the stock a “hold” rating in a research report on Friday, January 16th. Weiss Ratings reissued a “hold (c+)” rating on shares of Tractor Supply in a research report on Monday, December 29th. Finally, Telsey Advisory Group decreased their price objective on shares of Tractor Supply from $70.00 to $63.00 and set an “outperform” rating for the company in a report on Thursday, January 29th. Fifteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $59.78.

Tractor Supply Price Performance

The company has a debt-to-equity ratio of 0.70, a current ratio of 1.34 and a quick ratio of 0.16. The stock’s fifty day simple moving average is $51.76 and its 200-day simple moving average is $53.53. The company has a market capitalization of $24.06 billion, a P/E ratio of 22.07, a PEG ratio of 2.29 and a beta of 0.72.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Thursday, January 29th. The specialty retailer reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.03). The business had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $4.03 billion. Tractor Supply had a net margin of 7.06% and a return on equity of 44.36%. Tractor Supply’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.44 EPS. On average, equities analysts forecast that Tractor Supply Company will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th were paid a $0.24 dividend. The ex-dividend date was Tuesday, February 24th. This is a boost from Tractor Supply’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. Tractor Supply’s dividend payout ratio is 46.38%.

Insider Activity

In other Tractor Supply news, CEO Harry A. Lawton III sold 84,670 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $53.16, for a total value of $4,501,057.20. Following the completion of the sale, the chief executive officer owned 606,842 shares in the company, valued at approximately $32,259,720.72. This trade represents a 12.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert D. Mills sold 62,950 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $54.12, for a total value of $3,406,854.00. Following the sale, the executive vice president owned 122,834 shares in the company, valued at approximately $6,647,776.08. This represents a 33.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 222,348 shares of company stock valued at $11,959,621. Corporate insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Tractor Supply

A number of institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its holdings in shares of Tractor Supply by 1.6% in the 3rd quarter. Wellington Management Group LLP now owns 25,931,699 shares of the specialty retailer’s stock worth $1,474,736,000 after buying an additional 420,731 shares in the last quarter. Capital International Investors raised its stake in shares of Tractor Supply by 3.9% in the fourth quarter. Capital International Investors now owns 24,279,046 shares of the specialty retailer’s stock valued at $1,214,390,000 after acquiring an additional 902,659 shares during the last quarter. State Street Corp boosted its holdings in shares of Tractor Supply by 0.7% in the 4th quarter. State Street Corp now owns 23,051,776 shares of the specialty retailer’s stock worth $1,152,819,000 after acquiring an additional 162,774 shares in the last quarter. Invesco Ltd. grew its position in Tractor Supply by 18.4% during the 4th quarter. Invesco Ltd. now owns 17,433,611 shares of the specialty retailer’s stock worth $871,855,000 after acquiring an additional 2,706,819 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Tractor Supply by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 15,873,514 shares of the specialty retailer’s stock worth $791,703,000 after purchasing an additional 184,457 shares during the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

Tractor Supply Company Profile

Tractor Supply Company (NASDAQ: TSCO) is a specialty retailer focused on products for the home, farm, ranch and outdoors. The company operates a network of physical retail locations complemented by an e-commerce platform, offering a one-stop source of supplies and equipment for customers with rural and suburban lifestyles. Its merchandise assortment targets a range of needs, from animal and livestock care to maintenance, outdoor power equipment, and seasonal products.

Product categories include animal feed and supplies, pet products, fencing and fencing supplies, equine equipment, lawn and garden tools, work clothing and footwear, and small agricultural and outdoor power equipment.