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

Tractor Supply (NASDAQ:TSCO) declared a quarterly dividend on Wednesday, August 7th, RTT News reports. Shareholders of record on Monday, August 26th will be paid a dividend of 1.10 per share by the specialty retailer on Tuesday, September 10th. This represents a $4.40 annualized dividend and a yield of 1.63%. The ex-dividend date is Monday, August 26th.

Tractor Supply has raised its dividend by an average of 40.1% annually over the last three years and has raised its dividend every year for the last 15 years. Tractor Supply has a payout ratio of 39.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Tractor Supply to earn $11.13 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 39.5%.

Tractor Supply Price Performance

Shares of TSCO opened at $269.18 on Friday. The stock has a market capitalization of $29.02 billion, a PE ratio of 26.21, a PEG ratio of 3.31 and a beta of 0.81. The company has a 50 day moving average price of $266.67 and a 200-day moving average price of $262.21. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.25 and a current ratio of 1.43. Tractor Supply has a fifty-two week low of $185.00 and a fifty-two week high of $290.38.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $3.93. The business had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.28 billion. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the firm earned $3.83 EPS. Equities analysts predict that Tractor Supply will post 10.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on TSCO shares. Benchmark reissued a “buy” rating and set a $280.00 price target on shares of Tractor Supply in a research report on Friday, July 26th. Evercore ISI lowered their target price on shares of Tractor Supply from $290.00 to $280.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Piper Sandler upped their price target on Tractor Supply from $265.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. Telsey Advisory Group reiterated an “outperform” rating and set a $305.00 price objective on shares of Tractor Supply in a report on Thursday, July 25th. Finally, Truist Financial boosted their target price on Tractor Supply from $289.00 to $293.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Tractor Supply has a consensus rating of “Hold” and an average target price of $256.58.

Insider Buying and Selling

In other Tractor Supply news, SVP Matthew L. Rubin sold 540 shares of the business’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 transaction, the senior vice president now directly owns 5,170 shares of the company’s stock, valued at $1,356,349.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.24% of the stock is owned by corporate 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.