Citigroup Has Lowered Expectations for Tractor Supply (NASDAQ:TSCO) Stock Price

Tractor Supply (NASDAQ:TSCO) had its price target cut by Citigroup from $59.00 to $51.00 in a research report released on Friday,Benzinga reports. They currently have a neutral rating on the specialty retailer’s stock.

Several other research analysts have also commented on TSCO. Telsey Advisory Group reiterated an “outperform” rating and set a $67.00 price objective on shares of Tractor Supply in a research note on Thursday. Bank of America upped their price target on Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a research report on Thursday, January 16th. JPMorgan Chase & Co. raised their price objective on Tractor Supply from $58.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Guggenheim reduced their target price on Tractor Supply from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Stephens began coverage on Tractor Supply in a report on Wednesday, April 9th. They issued an “equal weight” rating and a $56.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $57.88.

Tractor Supply Stock Up 1.9 %

Shares of NASDAQ TSCO opened at $49.92 on Friday. Tractor Supply has a 12-month low of $46.85 and a 12-month high of $61.53. The stock’s fifty day simple moving average is $53.04 and its two-hundred day simple moving average is $54.80. The stock has a market capitalization of $26.54 billion, a PE ratio of 24.47, a price-to-earnings-growth ratio of 2.95 and a beta of 0.88. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82.

Tractor Supply (NASDAQ:TSCO) last issued 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 company had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.55 billion. Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. As a group, analysts expect that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were given a dividend of $0.92 per share. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a yield of 7.37%. The ex-dividend date was Wednesday, February 26th. Tractor Supply’s dividend payout ratio (DPR) is currently 45.77%.

Tractor Supply announced that its board has approved a stock buyback program on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the specialty retailer to reacquire up to 3.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Tractor Supply

In other news, CFO Kurt D. Barton sold 12,146 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $56.00, for a total transaction of $680,176.00. Following the sale, the chief financial officer now directly owns 47,715 shares of the company’s stock, valued at $2,672,040. This represents a 20.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $57.69, for a total value of $222,106.50. Following the completion of the transaction, the senior vice president now owns 31,787 shares of the company’s stock, valued at approximately $1,833,792.03. This represents a 10.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 137,993 shares of company stock valued at $7,538,068 in the last 90 days. 0.65% of the stock is currently owned by company insiders.

Institutional Trading of Tractor Supply

Several institutional investors have recently bought and sold shares of the business. Wedmont Private Capital lifted its position in shares of Tractor Supply by 2.5% during the 1st quarter. Wedmont Private Capital now owns 8,714 shares of the specialty retailer’s stock valued at $450,000 after buying an additional 212 shares in the last quarter. Creative Financial Designs Inc. ADV lifted its holdings in Tractor Supply by 30.1% during the first quarter. Creative Financial Designs Inc. ADV now owns 920 shares of the specialty retailer’s stock valued at $51,000 after purchasing an additional 213 shares in the last quarter. Procyon Advisors LLC grew its position in shares of Tractor Supply by 1.7% in the first quarter. Procyon Advisors LLC now owns 14,371 shares of the specialty retailer’s stock valued at $792,000 after purchasing an additional 238 shares during the period. International Assets Investment Management LLC increased its stake in shares of Tractor Supply by 5.5% during the first quarter. International Assets Investment Management LLC now owns 4,678 shares of the specialty retailer’s stock worth $258,000 after purchasing an additional 242 shares in the last quarter. Finally, Family Legacy Inc. raised its position in shares of Tractor Supply by 1.7% during the 1st quarter. Family Legacy Inc. now owns 17,157 shares of the specialty retailer’s stock worth $945,000 after purchasing an additional 281 shares during the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

Tractor Supply Company Profile

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.