Tractor Supply (NASDAQ:TSCO) Announces Quarterly Dividend of $1.10

Tractor Supply (NASDAQ:TSCO) announced a quarterly dividend on Thursday, May 9th, RTT News reports. Stockholders of record on Tuesday, May 28th will be given a dividend of 1.10 per share by the specialty retailer on Tuesday, June 11th. This represents a $4.40 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Friday, May 24th.

Tractor Supply has raised its dividend by an average of 40.1% per year over the last three years and has raised its dividend every year for the last 15 years. Tractor Supply has a dividend payout ratio of 38.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Tractor Supply to earn $11.37 per share next year, which means the company should continue to be able to cover its $4.40 annual dividend with an expected future payout ratio of 38.7%.

Tractor Supply Stock Up 0.6 %

TSCO stock opened at $285.68 on Wednesday. The company’s 50 day simple moving average is $261.76 and its 200-day simple moving average is $236.09. The firm has a market capitalization of $30.80 billion, a PE ratio of 27.82, a P/E/G ratio of 3.57 and a beta of 0.82. Tractor Supply has a 12 month low of $185.00 and a 12 month high of $287.89. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.40 and a quick ratio of 0.19.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 EPS for the quarter, beating the consensus estimate of $1.70 by $0.13. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.40 billion. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.65 earnings per share. Equities analysts expect that Tractor Supply will post 10.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Kurt D. Barton sold 4,335 shares of Tractor Supply stock in a transaction 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 sale, the chief financial officer now owns 20,678 shares of the company’s stock, valued at approximately $5,314,246. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Kurt D. Barton sold 4,335 shares of Tractor Supply stock in a transaction 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 sale, the chief financial officer now owns 20,678 shares of the company’s stock, valued at approximately $5,314,246. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Colin Yankee sold 8,675 shares of Tractor Supply stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $250.00, for a total transaction of $2,168,750.00. Following the sale, the executive vice president now directly owns 9,673 shares in the company, valued at approximately $2,418,250. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TSCO. Benchmark restated a “buy” rating and set a $256.00 target price on shares of Tractor Supply in a research report on Monday, April 22nd. The Goldman Sachs Group raised their target price on shares of Tractor Supply from $230.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. JPMorgan Chase & Co. lifted their price target on shares of Tractor Supply from $241.00 to $263.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Morgan Stanley lifted their price target on shares of Tractor Supply from $195.00 to $235.00 and gave the company an “underweight” rating in a report on Friday, April 26th. Finally, Truist Financial lifted their price target on shares of Tractor Supply from $277.00 to $289.00 and gave the company a “buy” rating in a report on Friday, April 26th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $253.96.

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.