Benchmark Reaffirms Buy Rating for Tractor Supply (NASDAQ:TSCO)

Benchmark reissued their buy rating on shares of Tractor Supply (NASDAQ:TSCO) in a research report report published on Monday, Benzinga reports. Benchmark currently has a $280.00 price objective on the specialty retailer’s stock.

A number of other equities analysts have also recently commented on TSCO. Robert W. Baird set a $320.00 price objective on shares of Tractor Supply in a research report on Thursday, October 17th. Truist Financial lifted their price objective on shares of Tractor Supply from $293.00 to $325.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Melius Research initiated coverage on shares of Tractor Supply in a research report on Monday, September 23rd. They set a “buy” rating and a $315.00 price objective for the company. Piper Sandler lifted their price objective on shares of Tractor Supply from $300.00 to $332.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Finally, UBS Group raised shares of Tractor Supply from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Tractor Supply has a consensus rating of “Moderate Buy” and an average price target of $272.50.

Tractor Supply Price Performance

NASDAQ:TSCO opened at $274.29 on Monday. Tractor Supply has a 1-year low of $185.00 and a 1-year high of $307.64. The company has a current ratio of 1.43, a quick ratio of 0.25 and a debt-to-equity ratio of 0.76. The firm has a fifty day simple moving average of $282.05 and a 200 day simple moving average of $272.89. The stock has a market capitalization of $29.59 billion, a PE ratio of 26.45, a P/E/G ratio of 3.66 and a beta of 0.80.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $3.93 EPS for the quarter, hitting analysts’ consensus estimates of $3.93. Tractor Supply had a net margin of 7.65% and a return on equity of 51.84%. The firm had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $4.28 billion. During the same period in the previous year, the business posted $3.83 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, research analysts expect that Tractor Supply will post 10.23 EPS for the current fiscal year.

Tractor Supply Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Monday, August 26th. Tractor Supply’s dividend payout ratio (DPR) is presently 42.43%.

Insider Activity at Tractor Supply

In related news, CFO Kurt D. Barton sold 23,532 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total value of $6,957,000.48. Following the completion of the transaction, the chief financial officer now owns 9,683 shares of the company’s stock, valued at $2,862,682.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Tractor Supply news, CFO Kurt D. Barton sold 23,532 shares of Tractor Supply stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total value of $6,957,000.48. Following the transaction, the chief financial officer now owns 9,683 shares in the company, valued at $2,862,682.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Matthew L. Rubin sold 540 shares of Tractor Supply stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $262.35, for a total value of $141,669.00. Following the completion of the transaction, the senior vice president now owns 5,170 shares in the company, valued at approximately $1,356,349.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.

Institutional Trading of Tractor Supply

Several hedge funds and other institutional investors have recently made changes to their positions in TSCO. Future Financial Wealth Managment LLC bought a new stake in shares of Tractor Supply during the first quarter worth about $26,000. LRI Investments LLC bought a new stake in shares of Tractor Supply during the first quarter worth about $28,000. J.Safra Asset Management Corp grew its holdings in shares of Tractor Supply by 700.0% during the first quarter. J.Safra Asset Management Corp now owns 112 shares of the specialty retailer’s stock worth $29,000 after purchasing an additional 98 shares during the last quarter. Whittier Trust Co. grew its holdings in shares of Tractor Supply by 60.9% during the second quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock worth $30,000 after purchasing an additional 42 shares during the last quarter. Finally, OFI Invest Asset Management bought a new stake in shares of Tractor Supply during the second quarter worth about $33,000. 98.72% of the stock is currently owned by institutional investors.

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.