Tractor Supply (NASDAQ:TSCO) Receives $59.07 Average Price Target from Brokerages

Tractor Supply (NASDAQ:TSCO) has earned an average recommendation of “Moderate Buy” from the twenty-two analysts that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, twelve have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $59.07.

Several brokerages have commented on TSCO. Truist Financial dropped their target price on shares of Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Barclays dropped their price objective on shares of Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating on the stock in a report on Monday, December 30th. Bank of America upped their target price on shares of Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a research note on Thursday, January 16th. Guggenheim reissued a “buy” rating and issued a $60.00 price target on shares of Tractor Supply in a research note on Friday, January 31st. Finally, Stephens began coverage on Tractor Supply in a report on Wednesday, April 9th. They issued an “equal weight” rating and a $56.00 price target on the stock.

Insider Buying and Selling

In related news, EVP Colin Yankee sold 24,602 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $54.15, for a total transaction of $1,332,198.30. Following the sale, the executive vice president now directly owns 33,645 shares in the company, valued at approximately $1,821,876.75. This represents a 42.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Harry A. Lawton III sold 88,095 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $54.59, for a total value of $4,809,106.05. Following the sale, the chief executive officer now owns 488,852 shares in the company, valued at approximately $26,686,430.68. This represents a 15.27 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 137,993 shares of company stock valued at $7,538,068. 0.65% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TSCO. Vanguard Group Inc. increased its stake in Tractor Supply by 392.5% in the 4th quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer’s stock worth $3,397,643,000 after acquiring an additional 51,031,178 shares during the last quarter. Wellington Management Group LLP increased its position 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 purchasing an additional 19,048,385 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Tractor Supply by 403.3% in the fourth quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer’s stock worth $1,180,932,000 after purchasing an additional 17,834,643 shares during the last quarter. Capital World Investors raised its stake in Tractor Supply by 403.7% in 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 purchasing an additional 15,575,311 shares in the last quarter. Finally, Capital International Investors lifted its position in Tractor Supply by 334.7% during the fourth quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer’s stock valued at $818,421,000 after purchasing an additional 11,880,010 shares during the last quarter. 98.72% of the stock is owned by institutional investors.

Tractor Supply Price Performance

TSCO opened at $50.28 on Friday. The company has a fifty day simple moving average of $53.48 and a 200 day simple moving average of $54.97. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. The stock has a market cap of $26.73 billion, a P/E ratio of 24.65, a P/E/G ratio of 2.95 and a beta of 0.88. Tractor Supply has a 12 month low of $46.97 and a 12 month high of $61.53.

Tractor Supply (NASDAQ:TSCO) last announced 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 return on equity of 49.01% and a net margin of 7.40%. On average, research analysts expect that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 7.32%. The ex-dividend date of this dividend was Wednesday, February 26th. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s payout ratio is presently 45.10%.

Tractor Supply announced that its Board of Directors has approved a share buyback program 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 programs are usually a sign that the company’s management believes its stock is undervalued.

About Tractor Supply

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.