Wedbush Reaffirms Neutral Rating for Tractor Supply (NASDAQ:TSCO)

Wedbush reaffirmed their neutral rating on shares of Tractor Supply (NASDAQ:TSCO) in a research note released on Tuesday, Benzinga reports. The brokerage currently has a $235.00 price objective on the specialty retailer’s stock.

Several other research analysts also recently commented on TSCO. Telsey Advisory Group lifted their price target on Tractor Supply from $250.00 to $275.00 and gave the stock an outperform rating in a research report on Friday, April 19th. UBS Group boosted their target price on shares of Tractor Supply from $220.00 to $240.00 and gave the stock a neutral rating in a research report on Friday, February 2nd. The Goldman Sachs Group increased their price target on shares of Tractor Supply from $230.00 to $262.00 and gave the company a buy rating in a report on Friday, February 2nd. Truist Financial raised their price target on shares of Tractor Supply from $256.00 to $277.00 and gave the stock a buy rating in a research report on Tuesday, April 2nd. Finally, Barclays upped their price objective on shares of Tractor Supply from $192.00 to $234.00 and gave the company an equal weight rating in a research report on Wednesday, April 17th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $248.17.

Tractor Supply Stock Up 3.3 %

TSCO opened at $273.90 on Tuesday. Tractor Supply has a twelve month low of $185.00 and a twelve month high of $274.66. The firm has a market cap of $29.56 billion, a P/E ratio of 27.15, a price-to-earnings-growth ratio of 3.88 and a beta of 0.84. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.28 and a current ratio of 1.50. The business has a 50 day moving average price of $252.44 and a 200 day moving average price of $226.59.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Thursday, April 25th. The specialty retailer reported $1.83 EPS for the quarter, topping the consensus estimate of $1.70 by $0.13. The firm had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.40 billion. Tractor Supply had a net margin of 7.61% and a return on equity of 53.60%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.65 EPS. Research analysts forecast that Tractor Supply will post 10.2 EPS for the current year.

Tractor Supply Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were issued a dividend of $1.10 per share. This is an increase from Tractor Supply’s previous quarterly dividend of $1.03. This represents a $4.40 annualized dividend and a yield of 1.61%. The ex-dividend date was Friday, February 23rd. Tractor Supply’s dividend payout ratio (DPR) is currently 43.61%.

Insider Buying and Selling at Tractor Supply

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. CWM LLC raised its stake in shares of Tractor Supply by 27.7% in the third quarter. CWM LLC now owns 3,175 shares of the specialty retailer’s stock worth $645,000 after acquiring an additional 689 shares during the last quarter. AE Wealth Management LLC raised its position in Tractor Supply by 13.4% in the 3rd quarter. AE Wealth Management LLC now owns 8,125 shares of the specialty retailer’s stock worth $1,650,000 after purchasing an additional 960 shares during the last quarter. HB Wealth Management LLC lifted its holdings in Tractor Supply by 23.2% during the 3rd quarter. HB Wealth Management LLC now owns 1,903 shares of the specialty retailer’s stock worth $386,000 after buying an additional 358 shares in the last quarter. GHP Investment Advisors Inc. boosted its position in Tractor Supply by 3.4% in the 3rd 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 last quarter. Finally, KFG Wealth Management LLC increased its stake in shares of Tractor Supply by 11.0% in the 3rd 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 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.