Tractor Supply (TSCO) To Go Ex-Dividend on May 28th

Tractor Supply (NASDAQ:TSCO) declared a quarterly dividend on Wednesday, May 14th, RTT News reports. Shareholders of record on Wednesday, May 28th will be given a dividend of 0.23 per share by the specialty retailer on Tuesday, June 10th. This represents a $0.92 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date is Wednesday, May 28th.

Tractor Supply has raised its dividend payment by an average of 28.4% annually over the last three years and has raised its dividend every year for the last 16 years. Tractor Supply has a payout ratio of 40.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Tractor Supply to earn $2.41 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 38.2%.

Tractor Supply Stock Performance

Shares of TSCO opened at $49.70 on Monday. 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. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. The firm has a fifty day moving average of $51.49 and a 200-day moving average of $53.91.

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). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. The company had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter in the prior year, the firm earned $1.83 earnings per share. Tractor Supply’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on TSCO shares. Raymond James cut their price objective on shares of Tractor Supply from $61.00 to $57.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Robert W. Baird dropped their target price on shares of Tractor Supply from $63.00 to $56.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Citigroup dropped their target price on shares of Tractor Supply from $59.00 to $51.00 and set a “neutral” rating on the stock in a research report on Friday, April 25th. Wall Street Zen raised shares of Tractor Supply from a “sell” rating to a “hold” rating in a report on Saturday. Finally, JPMorgan Chase & Co. reduced their target price on shares of Tractor Supply from $59.00 to $56.00 and set a “neutral” rating on the stock in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $58.02.

Insider Activity at Tractor Supply

In related news, SVP Matthew L. Rubin sold 2,810 shares of the 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 completion of the sale, the senior vice president now directly owns 29,722 shares of the company’s stock, valued at approximately $1,538,410.72. This represents a 8.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.65% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tractor Supply

Several large investors have recently made changes to their positions in TSCO. Woodline Partners LP boosted its holdings in shares of Tractor Supply by 40.7% in the 1st quarter. Woodline Partners LP now owns 45,132 shares of the specialty retailer’s stock valued at $2,487,000 after buying an additional 13,051 shares during the last quarter. Intech Investment Management LLC lifted its holdings in shares of Tractor Supply by 26.9% during the first quarter. Intech Investment Management LLC now owns 26,162 shares of the specialty retailer’s stock worth $1,442,000 after buying an additional 5,542 shares in the last quarter. Finally, Bison Wealth LLC lifted its holdings in shares of Tractor Supply by 356.1% during the fourth quarter. Bison Wealth LLC now owns 6,426 shares of the specialty retailer’s stock worth $341,000 after buying an additional 5,017 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Tractor Supply declared that its Board of Directors has approved a stock repurchase program on Thursday, February 13th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the specialty retailer to purchase up to 3.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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.