Tractor Supply (NASDAQ:TSCO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Tractor Supply (NASDAQ:TSCO - Free Report) from a sell rating to a hold rating in a research note issued to investors on Saturday.

A number of other equities research analysts have also recently issued reports on TSCO. Guggenheim cut their price objective on shares of Tractor Supply from $60.00 to $55.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Stephens started coverage on shares of Tractor Supply in a research report on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 price target for the company. Raymond James decreased their price objective on Tractor Supply from $61.00 to $57.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Robert W. Baird dropped their target price on Tractor Supply from $63.00 to $56.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Finally, Citigroup reduced their price target on Tractor Supply from $59.00 to $51.00 and set a "neutral" rating on the stock in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $58.02.

Tractor Supply Price Performance

NASDAQ TSCO traded up $0.03 during trading hours on Friday, reaching $49.70. 3,690,023 shares of the stock traded hands, compared to its average volume of 5,147,072. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. The stock has a 50 day simple moving average of $51.49 and a two-hundred day simple moving average of $53.91. Tractor Supply has a 1 year low of $46.85 and a 1 year high of $61.53. The company has a market cap of $26.35 billion, a price-to-earnings ratio of 24.36, a price-to-earnings-growth ratio of 2.95 and a beta of 0.82.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.37 by ($0.03). The firm had revenue of $3.47 billion for the quarter, compared to analysts' expectations of $3.55 billion. Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. The business's quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.83 earnings per share. On average, analysts predict that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply declared that its Board of Directors has initiated a stock repurchase plan on Thursday, February 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to reacquire up to 3.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Tractor Supply Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Wednesday, May 28th. Tractor Supply's payout ratio is 45.77%.

Insider Buying and Selling

In other Tractor Supply news, SVP Matthew L. Rubin sold 2,810 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $51.76, for a total transaction of $145,445.60. Following the transaction, the senior vice president now owns 29,722 shares in the company, valued at approximately $1,538,410.72. This represents a 8.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.65% of the stock is owned by insiders.

Institutional Investors Weigh In On Tractor Supply

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Tractor Supply by 392.5% during the fourth quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer's stock valued at $3,397,643,000 after buying an additional 51,031,178 shares during the period. Wellington Management Group LLP increased its stake in shares of Tractor Supply by 401.8% in the 4th quarter. Wellington Management Group LLP now owns 23,789,249 shares of the specialty retailer's stock worth $1,262,258,000 after acquiring an additional 19,048,385 shares in the last quarter. Alliancebernstein L.P. lifted its position in Tractor Supply by 403.3% during the 4th quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer's stock valued at $1,180,932,000 after acquiring an additional 17,834,643 shares during the period. Capital World Investors lifted its position in Tractor Supply by 403.7% during the 4th quarter. Capital World Investors now owns 19,433,135 shares of the specialty retailer's stock valued at $1,031,122,000 after acquiring an additional 15,575,311 shares during the period. Finally, Capital International Investors boosted its stake in Tractor Supply by 334.7% during the fourth quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer's stock worth $818,421,000 after acquiring an additional 11,880,010 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors.

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.