Tractor Supply (NASDAQ:TSCO – Free Report) had its price objective cut by Robert W. Baird from $50.00 to $38.00 in a research note published on Monday morning, MarketBeat reports. They currently have an outperform rating on the specialty retailer’s stock.
A number of other equities research analysts also recently commented on TSCO. Weiss Ratings downgraded Tractor Supply from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 8th. Piper Sandler set a $32.00 price target on Tractor Supply and gave the stock a “neutral” rating in a research note on Tuesday, June 16th. Gordon Haskett lifted their price target on Tractor Supply from $40.00 to $50.00 in a report on Friday, June 12th. Stephens dropped their price objective on shares of Tractor Supply from $53.00 to $43.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 22nd. Finally, Citigroup reiterated a “buy” rating on shares of Tractor Supply in a report on Thursday, July 16th. Thirteen investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $40.88.
Get Our Latest Analysis on TSCO
Tractor Supply Stock Down 0.9%
Tractor Supply (NASDAQ:TSCO – Get Free Report) last issued its quarterly earnings results on Tuesday, April 21st. The specialty retailer reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.04). Tractor Supply had a net margin of 6.91% and a return on equity of 42.58%. The business had revenue of $3.59 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same quarter last year, the firm posted $0.34 earnings per share. The company’s revenue was up 3.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Tractor Supply will post 2.08 earnings per share for the current year.
Tractor Supply Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th were paid a dividend of $0.24 per share. The ex-dividend date was Wednesday, May 27th. This represents a $0.96 annualized dividend and a yield of 3.3%. Tractor Supply’s dividend payout ratio is currently 47.06%.
Hedge Funds Weigh In On Tractor Supply
Hedge funds and other institutional investors have recently modified their holdings of the company. JPL Wealth Management LLC purchased a new position in Tractor Supply in the third quarter valued at approximately $28,000. Garner Asset Management Corp purchased a new stake in Tractor Supply during the fourth quarter worth approximately $25,000. Reflection Asset Management acquired a new stake in shares of Tractor Supply in the fourth quarter worth $26,000. Core Wealth Advisors LLC acquired a new stake in shares of Tractor Supply in the fourth quarter worth $27,000. Finally, Aventura Private Wealth LLC purchased a new position in shares of Tractor Supply in the 4th quarter valued at $27,000. 98.72% of the stock is owned by institutional investors and hedge funds.
About Tractor Supply
Tractor Supply Company (NASDAQ: TSCO) is a specialty retailer focused on products for the home, farm, ranch and outdoors. The company operates a network of physical retail locations complemented by an e-commerce platform, offering a one-stop source of supplies and equipment for customers with rural and suburban lifestyles. Its merchandise assortment targets a range of needs, from animal and livestock care to maintenance, outdoor power equipment, and seasonal products.
Product categories include animal feed and supplies, pet products, fencing and fencing supplies, equine equipment, lawn and garden tools, work clothing and footwear, and small agricultural and outdoor power equipment.
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