Wedbush Reiterates Outperform Rating for Tractor Supply (TSCO)

Wedbush reiterated their outperform rating on shares of Tractor Supply (NASDAQ:TSCO) in a report issued on Thursday morning, RTT News reports. They currently have a $115.00 price objective on the specialty retailer’s stock.

A number of other equities research analysts also recently issued reports on the company. Wells Fargo & Co restated a buy rating and set a $115.00 price target on shares of Tractor Supply in a research note on Wednesday. BidaskClub downgraded Tractor Supply from a buy rating to a hold rating in a research note on Tuesday, April 30th. Morgan Stanley boosted their price target on Tractor Supply from $96.00 to $104.00 and gave the company an equal weight rating in a research note on Friday, April 26th. Telsey Advisory Group boosted their price target on Tractor Supply from $92.00 to $98.00 and gave the company a market perform rating in a research note on Monday, April 22nd. Finally, Loop Capital boosted their price target on Tractor Supply to $106.00 and gave the company a hold rating in a research note on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the stock. The company has an average rating of Hold and an average target price of $98.42.

Shares of Tractor Supply stock traded down $0.22 during trading hours on Thursday, reaching $100.82. 76,518 shares of the stock traded hands, compared to its average volume of 1,365,982. The company has a market cap of $11.97 billion, a P/E ratio of 23.41, a P/E/G ratio of 1.84 and a beta of 1.11. Tractor Supply has a one year low of $70.75 and a one year high of $107.98. The company has a quick ratio of 0.15, a current ratio of 1.58 and a debt-to-equity ratio of 0.43.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.07. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.81 billion. Tractor Supply had a return on equity of 36.16% and a net margin of 6.68%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.57 EPS. Research analysts anticipate that Tractor Supply will post 4.76 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Tuesday, May 28th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, May 24th. This is a boost from Tractor Supply’s previous quarterly dividend of $0.31. This represents a $1.40 dividend on an annualized basis and a yield of 1.39%. Tractor Supply’s payout ratio is currently 28.77%.

In related news, CEO Gregory A. Sandfort sold 74,667 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $105.00, for a total value of $7,840,035.00. Following the transaction, the chief executive officer now directly owns 166,325 shares of the company’s stock, valued at approximately $17,464,125. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Steve K. Barbarick sold 32,867 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $104.13, for a total value of $3,422,440.71. Following the completion of the transaction, the chief operating officer now directly owns 46,894 shares in the company, valued at $4,883,072.22. The disclosure for this sale can be found here. Over the last three months, insiders sold 375,062 shares of company stock worth $37,903,170. 1.50% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc increased its stake in Tractor Supply by 0.3% in the 3rd quarter. Vanguard Group Inc now owns 12,358,247 shares of the specialty retailer’s stock worth $1,123,118,000 after acquiring an additional 35,414 shares during the last quarter. BlackRock Inc. increased its stake in Tractor Supply by 2.8% in the 1st quarter. BlackRock Inc. now owns 9,346,711 shares of the specialty retailer’s stock worth $913,734,000 after acquiring an additional 253,455 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in Tractor Supply by 12,298.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,941,622 shares of the specialty retailer’s stock worth $47,000 after acquiring an additional 3,909,832 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Tractor Supply by 73.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,339,567 shares of the specialty retailer’s stock worth $212,619,000 after acquiring an additional 987,193 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Tractor Supply by 11.3% in the 4th quarter. Geode Capital Management LLC now owns 1,931,675 shares of the specialty retailer’s stock worth $160,949,000 after acquiring an additional 195,817 shares during the last quarter. 83.54% of the stock is currently owned by institutional investors.

Tractor Supply Company Profile

Tractor Supply Company operates rural lifestyle retail stores in the United States. The company offers a selection of merchandise, including equine, livestock, pet, and small animal products necessary for their health, care, growth, and containment; hardware, truck, towing, and tool products; seasonal products, such as heating products, lawn and garden items, power equipment, gifts, and toys; work/recreational clothing and footwear; and maintenance products for agricultural and rural use.

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Analyst Recommendations for Tractor Supply (NASDAQ:TSCO)

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