Tractor Supply (NASDAQ:TSCO) Announces Dividend Increase – $0.92 Per Share

Tractor Supply (NASDAQ:TSCO) declared a quarterly dividend on Thursday, February 13th,RTT News reports. Shareholders of record on Wednesday, February 26th will be paid a dividend of 0.92 per share by the specialty retailer on Tuesday, March 11th. This represents a $3.68 annualized dividend and a yield of 6.54%. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22.

Tractor Supply has raised its dividend payment by an average of 28.4% per year over the last three years and has raised its dividend annually for the last 14 consecutive years. Tractor Supply has a dividend payout ratio of 36.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Tractor Supply to earn $2.42 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 36.4%.

Tractor Supply Trading Up 0.7 %

Shares of Tractor Supply stock traded up $0.40 on Thursday, hitting $56.27. 372,194 shares of the company traded hands, compared to its average volume of 5,412,865. Tractor Supply has a 52 week low of $46.19 and a 52 week high of $61.53. The company has a market cap of $30.05 billion, a PE ratio of 27.54, a PEG ratio of 2.70 and a beta of 0.84. The stock’s 50 day moving average price is $54.81 and its 200-day moving average price is $55.26. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82.

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

Wall Street Analyst Weigh In

TSCO has been the topic of a number of recent analyst reports. Wedbush reaffirmed a “neutral” rating and set a $54.00 price target on shares of Tractor Supply in a research report on Friday, October 25th. Citigroup cut shares of Tractor Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 17th. Barclays lowered their price target on shares of Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating on the stock in a report on Monday, December 30th. Truist Financial decreased their price objective on shares of Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Finally, DA Davidson increased their price target on Tractor Supply from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $59.22.

Insiders Place Their Bets

In related news, EVP Melissa Kersey sold 9,300 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $53.17, for a total transaction of $494,481.00. Following the transaction, the executive vice president now owns 34,961 shares of the company’s stock, valued at approximately $1,858,876.37. This represents a 21.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Harry A. Lawton III sold 88,095 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was 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 in the company, valued at $26,686,430.68. This trade represents a 15.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is currently 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.