Tractor Supply Declares Quarterly Dividend of $1.10 (NASDAQ:TSCO)

Tractor Supply (NASDAQ:TSCO) announced a quarterly dividend on Thursday, May 9th, RTT News reports. Investors of record on Tuesday, May 28th will be given a dividend of 1.10 per share by the specialty retailer on Tuesday, June 11th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.65%.

Tractor Supply has increased its dividend payment by an average of 40.1% per year over the last three years and has raised its dividend every year for the last 15 years. Tractor Supply has a dividend payout ratio of 38.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Tractor Supply to earn $11.34 per share next year, which means the company should continue to be able to cover its $4.40 annual dividend with an expected future payout ratio of 38.8%.

Tractor Supply Stock Down 1.3 %

Shares of NASDAQ:TSCO opened at $266.65 on Thursday. Tractor Supply has a 52 week low of $185.00 and a 52 week high of $279.38. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.19 and a current ratio of 1.40. The company has a market capitalization of $28.78 billion, a PE ratio of 25.96, a PEG ratio of 3.41 and a beta of 0.82. The company has a 50 day moving average price of $257.00 and a two-hundred day moving average price of $230.56.

Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Thursday, April 25th. The specialty retailer reported $1.83 EPS for the quarter, beating the consensus estimate of $1.70 by $0.13. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The firm had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the prior year, the firm earned $1.65 earnings per share. The business’s quarterly revenue was up 2.8% on a year-over-year basis. Analysts forecast that Tractor Supply will post 10.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on TSCO. Raymond James upped their target price on shares of Tractor Supply from $250.00 to $285.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Evercore ISI increased their price objective on shares of Tractor Supply from $275.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. TD Cowen increased their price objective on shares of Tractor Supply from $250.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. JPMorgan Chase & Co. increased their price objective on shares of Tractor Supply from $241.00 to $263.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Finally, Truist Financial increased their price objective on shares of Tractor Supply from $277.00 to $289.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Tractor Supply currently has a consensus rating of “Hold” and a consensus target price of $253.54.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, EVP Colin Yankee sold 8,675 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $250.00, for a total value of $2,168,750.00. Following the completion of the sale, the executive vice president now owns 9,673 shares in the company, valued at $2,418,250. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Kurt D. Barton sold 4,335 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the completion of the sale, the chief financial officer now owns 20,678 shares in the company, valued at approximately $5,314,246. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Colin Yankee sold 8,675 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $250.00, for a total transaction of $2,168,750.00. Following the sale, the executive vice president now owns 9,673 shares of the company’s stock, valued at approximately $2,418,250. The disclosure for this sale can be found here. Insiders sold a total of 62,470 shares of company stock worth $14,773,121 over the last quarter. 0.58% of the stock is currently owned by insiders.

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.