Tractor Supply (NASDAQ:TSCO) Reaches New 12-Month Low – What’s Next?

Tractor Supply Company (NASDAQ:TSCO) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $46.31 and last traded at $46.6010, with a volume of 609854 shares. The stock had previously closed at $47.55.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Stephens set a $53.00 price objective on Tractor Supply and gave the stock an “equal weight” rating in a research note on Thursday, January 22nd. Evercore reiterated an “outperform” rating and issued a $60.00 target price on shares of Tractor Supply in a research note on Friday, January 30th. Jefferies Financial Group reduced their price target on shares of Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a report on Friday, January 30th. DA Davidson reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Tractor Supply in a report on Friday, January 30th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Tractor Supply from $62.00 to $59.00 and set a “neutral” rating on the stock in a research report on Friday, January 30th. Fifteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $59.78.

Tractor Supply Stock Up 0.5%

The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.16 and a current ratio of 1.34. The firm has a 50 day simple moving average of $51.97 and a two-hundred day simple moving average of $53.85. The stock has a market cap of $24.31 billion, a P/E ratio of 22.31, a P/E/G ratio of 2.30 and a beta of 0.72.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, January 29th. The specialty retailer reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.03). The business had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $4.03 billion. Tractor Supply had a return on equity of 44.36% and a net margin of 7.06%.The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.44 EPS. Equities research analysts predict that Tractor Supply Company will post 2.17 earnings per share for the current year.

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th were given a $0.24 dividend. The ex-dividend date was Tuesday, February 24th. This represents a $0.96 dividend on an annualized basis and a yield of 2.1%. This is a boost from Tractor Supply’s previous quarterly dividend of $0.23. Tractor Supply’s payout ratio is currently 46.38%.

Insider Activity

In other Tractor Supply news, EVP Robert D. Mills sold 62,950 shares of the business’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $54.12, for a total transaction of $3,406,854.00. Following the sale, the executive vice president directly owned 122,834 shares in the company, valued at approximately $6,647,776.08. The trade was a 33.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Colin Yankee sold 11,170 shares of the company’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $55.35, for a total transaction of $618,259.50. Following the completion of the sale, the executive vice president directly owned 45,515 shares of the company’s stock, valued at approximately $2,519,255.25. This represents a 19.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 222,348 shares of company stock worth $11,959,621 in the last 90 days. 0.65% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tractor Supply

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. raised its stake in shares of Tractor Supply by 123.4% in the 2nd quarter. Invesco Ltd. now owns 15,079,313 shares of the specialty retailer’s stock worth $795,735,000 after buying an additional 8,329,462 shares in the last quarter. Norges Bank bought a new position in Tractor Supply during the fourth quarter valued at about $303,862,000. Victory Capital Management Inc. grew its holdings in Tractor Supply by 719.1% during the third quarter. Victory Capital Management Inc. now owns 4,508,661 shares of the specialty retailer’s stock worth $256,408,000 after acquiring an additional 3,958,205 shares during the period. Select Equity Group L.P. grew its holdings in Tractor Supply by 41.9% during the second quarter. Select Equity Group L.P. now owns 12,713,409 shares of the specialty retailer’s stock worth $670,887,000 after acquiring an additional 3,753,414 shares during the period. Finally, APG Asset Management N.V. raised its position in Tractor Supply by 505.1% in the third quarter. APG Asset Management N.V. now owns 4,329,556 shares of the specialty retailer’s stock worth $246,222,000 after acquiring an additional 3,614,097 shares in the last quarter. 98.72% of the stock is owned by institutional investors.

Tractor Supply Company Profile

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.