Shares of Tractor Supply (NASDAQ:TSCO – Get Free Report) were down 2.5% during trading on Wednesday after Evercore ISI lowered their price target on the stock from $295.00 to $290.00. Evercore ISI currently has an outperform rating on the stock. Tractor Supply traded as low as $258.69 and last traded at $259.50. Approximately 344,618 shares changed hands during trading, a decline of 70% from the average daily volume of 1,152,921 shares. The stock had previously closed at $266.03.
Several other analysts also recently issued reports on TSCO. TD Cowen boosted their price objective on Tractor Supply from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Truist Financial boosted their target price on Tractor Supply from $277.00 to $289.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Morgan Stanley boosted their target price on Tractor Supply from $195.00 to $235.00 and gave the company an “underweight” rating in a research note on Friday, April 26th. Wells Fargo & Company upped their price objective on Tractor Supply from $250.00 to $285.00 and gave the company an “overweight” rating in a report on Monday, March 25th. Finally, Piper Sandler raised their price objective on Tractor Supply from $265.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. Two 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $253.96.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in TSCO. Future Financial Wealth Managment LLC purchased a new stake in Tractor Supply during the 1st quarter worth $26,000. LRI Investments LLC acquired a new stake in shares of Tractor Supply during the 1st quarter valued at $28,000. Rise Advisors LLC lifted its stake in shares of Tractor Supply by 157.1% in the 1st quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock valued at $28,000 after purchasing an additional 66 shares during the last quarter. J.Safra Asset Management Corp increased its holdings in shares of Tractor Supply by 700.0% during the 1st 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 period. Finally, Private Wealth Management Group LLC bought a new stake in Tractor Supply in the fourth quarter valued at about $27,000. 98.72% of the stock is currently owned by hedge funds and other institutional investors.
Tractor Supply Stock Performance
The stock has a market capitalization of $28.21 billion, a price-to-earnings ratio of 25.27, a price-to-earnings-growth ratio of 3.51 and a beta of 0.81. The company has a quick ratio of 0.19, a current ratio of 1.40 and a debt-to-equity ratio of 0.83. The stock’s 50-day simple moving average is $275.40 and its 200 day simple moving average is $251.29.
Tractor Supply (NASDAQ:TSCO – Get Free Report) last posted its quarterly earnings data on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.13. The firm had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.40 billion. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.65 EPS. Analysts expect that Tractor Supply will post 10.34 earnings per share for the current fiscal year.
Tractor Supply Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 28th were given a $1.10 dividend. The ex-dividend date was Friday, May 24th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.68%. Tractor Supply’s dividend payout ratio (DPR) is currently 42.84%.
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.