Tractor Supply (NASDAQ:TSCO) Plans $1.10 Quarterly Dividend

Tractor Supply (NASDAQ:TSCO) announced a quarterly dividend on Thursday, November 7th, RTT News reports. Stockholders of record on Monday, November 25th will be given a dividend of 1.10 per share by the specialty retailer on Tuesday, December 10th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.51%.

Tractor Supply has increased its dividend by an average of 40.1% annually over the last three years and has raised its dividend annually for the last 15 consecutive years. Tractor Supply has a dividend payout ratio of 39.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Tractor Supply to earn $11.01 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 40.0%.

Tractor Supply Stock Performance

Shares of NASDAQ TSCO traded up $2.34 during mid-day trading on Thursday, reaching $291.29. 51,228 shares of the company’s stock were exchanged, compared to its average volume of 1,054,173. The firm has a market capitalization of $31.42 billion, a price-to-earnings ratio of 28.11, a price-to-earnings-growth ratio of 3.39 and a beta of 0.82. Tractor Supply has a 52 week low of $193.60 and a 52 week high of $307.64. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.48 and a quick ratio of 0.17. The firm has a 50-day moving average price of $282.75 and a two-hundred day moving average price of $274.53.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TSCO. Truist Financial lowered their target price on Tractor Supply from $325.00 to $317.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. UBS Group lifted their target price on Tractor Supply from $272.00 to $280.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Benchmark boosted their price objective on Tractor Supply from $280.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Barclays boosted their price objective on Tractor Supply from $240.00 to $250.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Finally, Evercore ISI cut Tractor Supply from an “outperform” rating to an “in-line” rating and set a $300.00 price objective on the stock. in a research note on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $282.82.

Insiders Place Their Bets

In other Tractor Supply news, SVP Matthew L. Rubin sold 540 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $262.35, for a total value of $141,669.00. Following the completion of the sale, the senior vice president now owns 5,170 shares of the company’s stock, valued at $1,356,349.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Tractor Supply news, SVP Matthew L. Rubin sold 540 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $262.35, for a total value of $141,669.00. Following the completion of the sale, the senior vice president now owns 5,170 shares of the company’s stock, valued at $1,356,349.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kurt D. Barton sold 23,532 shares of the company’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 9,683 shares of the company’s stock, valued at approximately $2,862,682.12. 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.

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.