Tractor Supply (NASDAQ:TSCO) Earns Buy Rating from Analysts at Melius Research

Melius Research initiated coverage on shares of Tractor Supply (NASDAQ:TSCO) in a report published on Monday, Marketbeat.com reports. The firm issued a buy rating and a $315.00 price target on the specialty retailer’s stock.

Other research analysts also recently issued research reports about the company. Wedbush reaffirmed a neutral rating and set a $270.00 price target on shares of Tractor Supply in a research note on Friday, July 26th. Evercore ISI cut their price target on Tractor Supply from $290.00 to $280.00 and set an outperform rating for the company in a research note on Friday, July 26th. Truist Financial lifted their price target on Tractor Supply from $289.00 to $293.00 and gave the stock a buy rating in a research note on Friday, July 26th. Telsey Advisory Group reaffirmed an outperform rating and set a $305.00 price target on shares of Tractor Supply in a research note on Thursday, July 25th. Finally, Loop Capital lifted their price target on Tractor Supply from $250.00 to $260.00 and gave the stock a hold rating in a research note on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Tractor Supply presently has an average rating of Hold and a consensus price target of $258.96.

Tractor Supply Stock Performance

Shares of TSCO opened at $280.86 on Monday. The company has a current ratio of 1.43, a quick ratio of 0.25 and a debt-to-equity ratio of 0.76. The firm has a market cap of $30.30 billion, a PE ratio of 27.35, a price-to-earnings-growth ratio of 3.48 and a beta of 0.80. The company’s 50 day simple moving average is $268.08 and its 200-day simple moving average is $267.37. Tractor Supply has a 12-month low of $185.00 and a 12-month high of $290.38.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share for the quarter, hitting the consensus estimate of $3.93. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. The firm had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same period last year, the company earned $3.83 earnings per share. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, equities analysts predict that Tractor Supply will post 10.23 EPS for the current year.

Tractor Supply Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were given a $1.10 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.57%. Tractor Supply’s payout ratio is presently 42.84%.

Insider Activity

In related news, SVP Matthew L. Rubin sold 540 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $262.35, for a total value 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 $1,356,349.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.24% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Signature Wealth Management Group increased its stake in shares of Tractor Supply by 0.5% in the second quarter. Signature Wealth Management Group now owns 6,999 shares of the specialty retailer’s stock valued at $1,890,000 after buying an additional 38 shares during the period. X Square Capital LLC boosted its holdings in Tractor Supply by 1.6% in the second quarter. X Square Capital LLC now owns 2,579 shares of the specialty retailer’s stock valued at $696,000 after acquiring an additional 41 shares during the last quarter. Eads & Heald Wealth Management boosted its holdings in Tractor Supply by 0.6% in the second quarter. Eads & Heald Wealth Management now owns 7,040 shares of the specialty retailer’s stock valued at $1,901,000 after acquiring an additional 42 shares during the last quarter. Whittier Trust Co. boosted its holdings in Tractor Supply by 60.9% in the second quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock valued at $30,000 after acquiring an additional 42 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its holdings in Tractor Supply by 1.2% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,464 shares of the specialty retailer’s stock valued at $935,000 after acquiring an additional 42 shares during the last quarter. Institutional investors and hedge funds 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.