Tractor Supply’s (TSCO) “Outperform” rating is reaffirmed at Telsey Advisory Group

Telsey Advisory Group has reissued its outperform rating on shares Tractor offer (NASDAQ: TSCO – Free report) in a report issued Thursday morning, Benzinga reports. Telsey Advisory Group currently has a $335.00 price target on the specialty retailer’s stock.

TSCO has been the subject of several other reports. JPMorgan Chase & Co. raised their price objective on Tractor Supply from $260.00 to $290.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16. Wells Fargo & Company lifted their target price on shares of Tractor Supply from $295.00 to $325.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Citigroup downgraded Tractor Supply from a “strong buy” rating to a “hold” rating in a report on Thursday, October 17. Wedbush reiterated a “neutral” rating and issued a $270.00 target price on shares of Tractor Supply in a research note on Friday, July 26. Finally, Piper Sandler raised their price target on Tractor Supply from $300.00 to $332.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of ‘Hold’ and a consensus price target of $277.70.

Read our latest tractor supply report

Inventory performance of tractor supply

NASDAQ TSCO opened Thursday at $272.77. The company has a 50-day moving average of $282.24 and a 200-day moving average of $273.19. The company has a market cap of $29.41 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 3.66, and a beta of 0.80. Tractor Supply has a one-year low of $185.00 and a one-year high of $307.64. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.43 and a quick ratio of 0.25.

Tractor offer (NASDAQ: TSCO – Get a free report) last published its earnings results on Thursday, October 24. The specialty retailer reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.01. The company had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.49 billion. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. Sell-side analysts expect Tractor Supply to post 10.23 earnings per share for the current fiscal year.

Tractor Supply announces dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10. Shareholders of record received a $1.10 dividend on Monday, August 26. The ex-dividend date of this dividend was Monday, August 26. This represents a dividend of $4.40 annually and a dividend yield of 1.61%. Tractor Supply’s payout percentage is 42.84%.

Insider activity

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

Hedge funds are weighing on the supply of tractors

A number of institutional investors and hedge funds have recently increased or decreased their stakes in TSCO. Future Financial Wealth Management LLC bought a new stake in Tractor Supply worth $26,000 during the first quarter. LRI Investments LLC acquired a new position in shares of Tractor Supply during the first quarter valued at $28,000. J.Safra Asset Management Corp increased its stake in Tractor Supply by 700.0% during the first quarter. J.Safra Asset Management Corp now owns 112 shares of the specialty retailer’s stock valued at $29,000 after purchasing an additional 98 shares during the period. Whittier Trust Co. increased its position in Tractor Supply shares by 60.9% during the second quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer worth $30,000, after purchasing an additional 42 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new stake in Tractor Supply shares in the second quarter worth approximately $33,000. 98.72% of the shares are held by institutional investors.

Tractor Supply company profile

(Get a free report)

Tractor Supply Company operates as a lifestyle retailer in rural United States. The company offers a variety of goods including feed and equipment for livestock and horses, poultry, fencing and sprayers and chemicals; food, treats and equipment for dogs, cats and other small animals, as well as dog welfare products; seasonal and recreational products, including tractors and riders, lawn and garden, bird feed, electrical equipment and other recreational products; truck, tool and hardware products, such as truck accessories, trailers, generators, lubricants, batteries and hardware and tools; and apparel, gift and decoration products consist of clothing, shoes, toys, snacks and decorative merchandise.

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