Tractor Supply (NASDAQ:TSCO) Trading Up 4.2% – Still a Buy?

Shares of Tractor Supply (NASDAQ:TSCO) rose 4.2% on Monday . The company traded as high as $59.50 and last traded at $59.27. Approximately 750,725 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 5,229,258 shares. The stock had previously closed at $56.89.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wells Fargo & Company decreased their target price on Tractor Supply from $65.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Truist Financial cut their target price on shares of Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Barclays lowered their price objective on shares of Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a report on Monday, December 30th. Telsey Advisory Group reiterated an “outperform” rating and set a $67.00 target price on shares of Tractor Supply in a report on Thursday, January 30th. Finally, Guggenheim restated a “buy” rating and issued a $60.00 target price on shares of Tractor Supply in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Tractor Supply presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.22.

Tractor Supply Trading Up 1.5 %

The stock has a fifty day simple moving average of $55.11 and a 200 day simple moving average of $55.76. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. The firm has a market cap of $30.85 billion, a P/E ratio of 28.41, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 EPS for the quarter, missing the consensus estimate of $2.28 by ($1.84). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. On average, research analysts expect that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th will be paid a $0.92 dividend. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 dividend on an annualized basis and a dividend yield of 6.37%. The ex-dividend date is Wednesday, February 26th. Tractor Supply’s dividend payout ratio (DPR) is 45.10%.

Tractor Supply declared that its Board of Directors has initiated a stock repurchase program on Thursday, February 13th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the specialty retailer to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Tractor Supply

In related news, CEO Harry A. Lawton III sold 88,095 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $54.59, for a total transaction of $4,809,106.05. Following the sale, the chief executive officer now owns 488,852 shares of the company’s stock, valued at $26,686,430.68. This represents a 15.27 % 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. Also, SVP Matthew L. Rubin sold 3,850 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $57.69, for a total transaction of $222,106.50. Following the completion of the sale, the senior vice president now owns 31,787 shares in the company, valued at approximately $1,833,792.03. This trade represents a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 137,993 shares of company stock valued at $7,538,068. Insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On Tractor Supply

Several institutional investors have recently made changes to their positions in TSCO. Smithfield Trust Co lifted its stake in shares of Tractor Supply by 286.2% during the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer’s stock worth $25,000 after acquiring an additional 352 shares during the last quarter. Coppell Advisory Solutions LLC boosted its position in Tractor Supply by 944.4% in the 4th quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 425 shares during the period. PrairieView Partners LLC boosted its holdings in shares of Tractor Supply by 400.0% in the fourth quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 400 shares during the period. Future Financial Wealth Managment LLC lifted its holdings in shares of Tractor Supply by 400.0% in the 4th quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer’s stock worth $27,000 after buying an additional 400 shares during the period. Finally, Archer Investment Corp increased its position in Tractor Supply by 400.0% during the 4th quarter. Archer Investment Corp now owns 500 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 400 shares during the period. Institutional investors own 98.72% of the company’s stock.

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.