Tractor Supply (NASDAQ:TSCO) Trading Up 4.2% – What’s Next?

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on TSCO shares. JPMorgan Chase & Co. raised their price objective on Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Truist Financial decreased 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 report on Friday, January 31st. Mizuho boosted their price target on Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Telsey Advisory Group reiterated an “outperform” rating and set a $67.00 price objective on shares of Tractor Supply in a research note on Thursday, January 30th. Finally, Wells Fargo & Company dropped their target price on shares of Tractor Supply from $65.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tractor Supply has an average rating of “Moderate Buy” and a consensus price target of $59.22.

Tractor Supply Price Performance

The stock has a market cap of $30.85 billion, a P/E ratio of 28.41, a P/E/G ratio of 2.95 and a beta of 0.85. The business has a 50 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.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share (EPS) 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%. On average, sell-side analysts forecast that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th will be paid a dividend of $0.92 per share. This is a boost 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 is presently 45.10%.

Tractor Supply announced that its Board of Directors has authorized a stock buyback plan on Thursday, February 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to purchase up to 3.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kurt D. Barton sold 12,146 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $56.00, for a total transaction of $680,176.00. Following the completion of the transaction, the chief financial officer now owns 47,715 shares in the company, valued at approximately $2,672,040. This trade represents a 20.29 % 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 worth $7,538,068. 0.24% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TSCO. Probity Advisors Inc. increased its position in shares of Tractor Supply by 400.0% during the 4th quarter. Probity Advisors Inc. now owns 4,215 shares of the specialty retailer’s stock valued at $224,000 after purchasing an additional 3,372 shares during the last quarter. Siemens Fonds Invest GmbH grew its position in Tractor Supply by 4,490.1% during the fourth quarter. Siemens Fonds Invest GmbH now owns 52,052 shares of the specialty retailer’s stock valued at $2,762,000 after acquiring an additional 50,918 shares during the last quarter. Cim LLC raised its stake in shares of Tractor Supply by 402.0% during the fourth quarter. Cim LLC now owns 363,233 shares of the specialty retailer’s stock worth $19,273,000 after acquiring an additional 290,882 shares in the last quarter. Menard Financial Group LLC bought a new stake in shares of Tractor Supply in the 4th quarter worth approximately $160,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Tractor Supply in the 4th quarter valued at $20,555,000. 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.