Tractor Supply (NASDAQ:TSCO) Stock Breaks Above Fifty Day Moving Average – Here’s What Happened

Shares of Tractor Supply Company (NASDAQ:TSCO) passed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $33.31 and traded as high as $33.66. Tractor Supply shares last traded at $33.65, with a volume of 9,422,764 shares traded.

Wall Street Analyst Weigh In

TSCO has been the topic of a number of recent research reports. BNP Paribas Exane increased their price objective on Tractor Supply from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, October 23rd. Piper Sandler set a $35.00 target price on Tractor Supply in a research note on Friday, October 23rd. UBS Group restated a “neutral” rating on shares of Tractor Supply in a research report on Monday, October 12th. Guggenheim set a $40.00 target price on Tractor Supply and gave the stock a “buy” rating in a research report on Friday, July 24th. Finally, Morgan Stanley reaffirmed a “negative” rating and set a $35.00 price target on shares of Tractor Supply in a research note on Friday, July 24th. Thirteen analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $38.62.

Tractor Supply Stock Performance

The firm’s 50-day moving average price is $33.31 and its 200 day moving average price is $38.36. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.20 and a current ratio of 1.38. The company has a market cap of $17.65 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 3.28 and a beta of 0.52.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings data on Thursday, October 22nd. The specialty retailer reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.02. Tractor Supply had a net margin of 6.13% and a return on equity of 40.05%. The business had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same period in the prior year, the business posted $0.49 earnings per share. Tractor Supply’s revenue was up 5.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Tractor Supply Company will post 1.94 EPS for the current year.

Tractor Supply Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 8th. Shareholders of record on Monday, August 24th were given a dividend of $0.24 per share. The ex-dividend date was Monday, August 24th. This represents a $0.96 annualized dividend and a dividend yield of 2.9%. Tractor Supply’s payout ratio is presently 51.61%.

Insider Activity

In related news, Director Andre J. Hawaux acquired 3,150 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was acquired at an average cost of $31.83 per share, with a total value of $100,264.50. Following the completion of the purchase, the director directly owned 3,150 shares in the company, valued at approximately $100,264.50. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edna Morris acquired 1,560 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was bought at an average price of $32.44 per share, with a total value of $50,606.40. Following the acquisition, the director directly owned 279,720 shares of the company’s stock, valued at $9,074,116.80. The trade was a 0.56% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 20,310 shares of company stock valued at $652,411 in the last 90 days. 0.64% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tractor Supply

Several institutional investors have recently modified their holdings of TSCO. Greenleaf Trust increased its holdings in shares of Tractor Supply by 7.8% in the third quarter. Greenleaf Trust now owns 16,022 shares of the specialty retailer’s stock worth $501,000 after acquiring an additional 1,159 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Tractor Supply during the 3rd quarter valued at about $4,423,000. ProShare Advisors LLC lifted its holdings in shares of Tractor Supply by 8.8% during the 3rd quarter. ProShare Advisors LLC now owns 100,092 shares of the specialty retailer’s stock valued at $3,132,000 after purchasing an additional 8,120 shares in the last quarter. Invera Wealth Advisors LLC lifted its holdings in shares of Tractor Supply by 105.0% during the 3rd quarter. Invera Wealth Advisors LLC now owns 22,797 shares of the specialty retailer’s stock valued at $713,000 after purchasing an additional 11,675 shares in the last quarter. Finally, MGO One Seven LLC grew its position in shares of Tractor Supply by 13.8% in the 3rd quarter. MGO One Seven LLC now owns 13,439 shares of the specialty retailer’s stock valued at $421,000 after purchasing an additional 1,627 shares during the period. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Tractor Supply Company Profile

Tractor Supply Company (NASDAQ:TSCO) is a specialty retailer serving the needs of farmers, ranchers, hobby farmers, pet owners, gardeners and other rural lifestyle customers. The company operates under the Tractor Supply banner and focuses on products that support everyday rural living, land maintenance and animal care.

Its merchandise includes livestock and pet feed, animal health and care products, fencing, hardware, tools, power equipment, lawn and garden supplies, work clothing, footwear, automotive products and seasonal goods.