Tractor Supply’s (TSCO) Neutral Rating Reiterated at Wedbush

Wedbush reissued their neutral rating on shares of Tractor Supply (NASDAQ:TSCO) in a report issued on Tuesday, Benzinga reports. Wedbush currently has a $235.00 price target on the specialty retailer’s stock.

TSCO has been the topic of several other reports. Raymond James downgraded shares of Tractor Supply from a strong-buy rating to an outperform rating and lifted their target price for the stock from $230.00 to $250.00 in a research report on Friday, February 2nd. Evercore ISI cut their target price on shares of Tractor Supply from $280.00 to $275.00 and set an outperform rating on the stock in a research report on Tuesday, April 16th. Telsey Advisory Group lifted their target price on shares of Tractor Supply from $250.00 to $275.00 and gave the stock an outperform rating in a research report on Friday, April 19th. Barclays lifted their target price on shares of Tractor Supply from $192.00 to $234.00 and gave the stock an equal weight rating in a research report on Wednesday, April 17th. Finally, Wells Fargo & Company lifted their target price on shares of Tractor Supply from $250.00 to $285.00 and gave the stock an overweight rating in a research report on Monday, March 25th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $241.65.

Tractor Supply Trading Up 2.8 %

TSCO opened at $265.26 on Tuesday. The company’s 50 day moving average is $251.70 and its 200-day moving average is $226.10. Tractor Supply has a 1-year low of $185.00 and a 1-year high of $268.02. The company has a current ratio of 1.50, a quick ratio of 0.28 and a debt-to-equity ratio of 0.82. The company has a market cap of $28.63 billion, a P/E ratio of 26.29, a PEG ratio of 3.88 and a beta of 0.84.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings results on Thursday, February 1st. The specialty retailer reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.06. Tractor Supply had a net margin of 7.61% and a return on equity of 53.60%. The company had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.67 billion. During the same period last year, the company posted $2.43 EPS. The firm’s quarterly revenue was down 8.6% compared to the same quarter last year. Equities research analysts predict that Tractor Supply will post 10.2 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date was Friday, February 23rd. This is a positive change from Tractor Supply’s previous quarterly dividend of $1.03. Tractor Supply’s payout ratio is 43.61%.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, EVP Colin Yankee sold 8,675 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $250.00, for a total transaction of $2,168,750.00. Following the completion of the sale, the executive vice president now owns 9,673 shares in the company, valued at approximately $2,418,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Tractor Supply news, EVP Colin Yankee sold 8,675 shares of Tractor Supply stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $250.00, for a total transaction of $2,168,750.00. Following the transaction, the executive vice president now directly owns 9,673 shares of the company’s stock, valued at approximately $2,418,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kurt D. Barton sold 4,335 shares of Tractor Supply stock in a transaction on Friday, March 15th. The stock was sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the transaction, the chief financial officer now directly owns 20,678 shares in the company, valued at $5,314,246. The disclosure for this sale can be found here. In the last 90 days, insiders sold 90,090 shares of company stock worth $21,201,877. 0.24% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tractor Supply

A number of hedge funds and other institutional investors have recently made changes to their positions in TSCO. CWM LLC increased its position in shares of Tractor Supply by 27.7% during the third quarter. CWM LLC now owns 3,175 shares of the specialty retailer’s stock valued at $645,000 after buying an additional 689 shares during the period. AE Wealth Management LLC increased its position in shares of Tractor Supply by 13.4% during the third quarter. AE Wealth Management LLC now owns 8,125 shares of the specialty retailer’s stock valued at $1,650,000 after buying an additional 960 shares during the period. HB Wealth Management LLC increased its position in shares of Tractor Supply by 23.2% during the third quarter. HB Wealth Management LLC now owns 1,903 shares of the specialty retailer’s stock valued at $386,000 after buying an additional 358 shares during the period. GHP Investment Advisors Inc. increased its position in shares of Tractor Supply by 3.4% during the third quarter. GHP Investment Advisors Inc. now owns 21,241 shares of the specialty retailer’s stock valued at $4,264,000 after buying an additional 702 shares during the period. Finally, KFG Wealth Management LLC increased its position in shares of Tractor Supply by 11.0% during the third quarter. KFG Wealth Management LLC now owns 3,144 shares of the specialty retailer’s stock valued at $638,000 after buying an additional 311 shares during the period. 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.