Benchmark Reaffirms “Buy” Rating for Tractor Supply (NASDAQ:TSCO)

Benchmark restated their buy rating on shares of Tractor Supply (NASDAQ:TSCO) in a report released on Friday morning, Benzinga reports. They currently have a $280.00 target price on the specialty retailer’s stock.

Several other research firms have also issued reports on TSCO. TD Cowen upped their target price on Tractor Supply from $250.00 to $270.00 and gave the company a buy rating in a report on Friday, April 26th. Robert W. Baird upped their target price on Tractor Supply from $260.00 to $285.00 and gave the company an outperform rating in a report on Friday, April 26th. Mizuho reaffirmed a neutral rating and issued a $250.00 target price (up from $245.00) on shares of Tractor Supply in a report on Friday, April 26th. Telsey Advisory Group reaffirmed an outperform rating and issued a $305.00 target price on shares of Tractor Supply in a report on Thursday. Finally, Morgan Stanley upped their target price on Tractor Supply from $195.00 to $235.00 and gave the company an underweight rating in a report on Friday, April 26th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Tractor Supply currently has an average rating of Hold and a consensus price target of $256.58.

Tractor Supply Stock Performance

Shares of TSCO opened at $262.52 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.19 and a current ratio of 1.43. The stock has a 50 day moving average price of $273.49 and a two-hundred day moving average price of $257.75. The firm has a market capitalization of $28.30 billion, a P/E ratio of 25.56, a P/E/G ratio of 3.43 and a beta of 0.81. Tractor Supply has a 52 week low of $185.00 and a 52 week high of $290.38.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $3.93 EPS for the quarter, hitting analysts’ consensus estimates of $3.93. The firm had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.28 billion. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $3.83 EPS. Equities analysts forecast that Tractor Supply will post 10.29 earnings per share for the current fiscal year.

Tractor Supply Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Tuesday, May 28th were paid a $1.10 dividend. The ex-dividend date of this dividend was Friday, May 24th. This represents a $4.40 dividend on an annualized basis and a yield of 1.68%. Tractor Supply’s dividend payout ratio is presently 42.84%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TSCO. Wellington Management Group LLP increased its stake in Tractor Supply by 63.2% in the fourth quarter. Wellington Management Group LLP now owns 4,606,455 shares of the specialty retailer’s stock valued at $990,526,000 after acquiring an additional 1,784,304 shares during the last quarter. Norges Bank bought a new position in Tractor Supply in the fourth quarter valued at $260,560,000. Capital World Investors increased its stake in Tractor Supply by 10.0% in the fourth quarter. Capital World Investors now owns 5,849,188 shares of the specialty retailer’s stock valued at $1,257,751,000 after acquiring an additional 531,170 shares during the last quarter. Capital International Investors grew its stake in shares of Tractor Supply by 7.6% during the fourth quarter. Capital International Investors now owns 6,233,852 shares of the specialty retailer’s stock valued at $1,340,589,000 after buying an additional 439,954 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Tractor Supply by 12.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,330,621 shares of the specialty retailer’s stock valued at $871,691,000 after buying an additional 368,859 shares during the last quarter. Institutional investors own 98.72% of the company’s stock.

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.