Tractor Supply (NASDAQ:TSCO) Hits New 1-Year Low – What’s Next?

Tractor Supply Company (NASDAQ:TSCO)’s share price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $44.33 and last traded at $44.53, with a volume of 6106884 shares traded. The stock had previously closed at $45.30.

Analysts Set New Price Targets

TSCO has been the topic of a number of analyst reports. TD Cowen cut their price target on shares of Tractor Supply from $55.00 to $53.00 and set a “hold” rating on the stock in a research report on Friday, January 30th. Guggenheim restated a “buy” rating and set a $65.00 price objective on shares of Tractor Supply in a report on Thursday, January 22nd. JPMorgan Chase & Co. lowered their target price on shares of Tractor Supply from $62.00 to $59.00 and set a “neutral” rating for the company in a research note on Friday, January 30th. Piper Sandler cut their target price on shares of Tractor Supply from $67.00 to $59.00 and set an “overweight” rating on the stock in a report on Friday, January 30th. Finally, Stephens set a $53.00 price target on shares of Tractor Supply and gave the stock an “equal weight” rating in a research report on Thursday, January 22nd. Fifteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $59.78.

Tractor Supply Price Performance

The company has a current ratio of 1.34, a quick ratio of 0.16 and a debt-to-equity ratio of 0.70. The firm has a market cap of $23.42 billion, a P/E ratio of 21.51, a PEG ratio of 2.27 and a beta of 0.72. The company has a fifty day moving average price of $51.08 and a two-hundred day moving average price of $52.93.

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

Tractor Supply Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th were issued a dividend of $0.24 per share. The ex-dividend date was Tuesday, February 24th. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.2%. Tractor Supply’s dividend payout ratio (DPR) is 46.38%.

Insiders Place Their Bets

In related news, CEO Harry A. Lawton III sold 84,670 shares of the company’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $53.16, for a total value of $4,501,057.20. Following the completion of the transaction, the chief executive officer directly owned 606,842 shares of the company’s stock, valued at approximately $32,259,720.72. This represents a 12.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Colin Yankee sold 11,170 shares of the stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $55.35, for a total value of $618,259.50. Following the transaction, the executive vice president owned 45,515 shares of the company’s stock, valued at approximately $2,519,255.25. This trade represents a 19.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 222,348 shares of company stock worth $11,959,621 in the last ninety days. 0.65% of the stock is owned by insiders.

Institutional Investors Weigh In On Tractor Supply

Institutional investors have recently bought and sold shares of the company. Bison Wealth LLC lifted its position in shares of Tractor Supply by 356.1% in the fourth quarter. Bison Wealth LLC now owns 6,426 shares of the specialty retailer’s stock worth $341,000 after purchasing an additional 5,017 shares in the last quarter. Woodline Partners LP lifted its position in Tractor Supply by 40.7% during the 1st quarter. Woodline Partners LP now owns 45,132 shares of the specialty retailer’s stock worth $2,487,000 after buying an additional 13,051 shares in the last quarter. Intech Investment Management LLC grew its holdings in shares of Tractor Supply by 26.9% in the 1st quarter. Intech Investment Management LLC now owns 26,162 shares of the specialty retailer’s stock valued at $1,442,000 after acquiring an additional 5,542 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Tractor Supply by 3.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 85,158 shares of the specialty retailer’s stock valued at $4,494,000 after acquiring an additional 2,534 shares during the last quarter. Finally, Mackenzie Financial Corp raised its holdings in Tractor Supply by 3.9% during the second quarter. Mackenzie Financial Corp now owns 142,531 shares of the specialty retailer’s stock worth $7,521,000 after acquiring an additional 5,299 shares in the last quarter. Institutional investors own 98.72% of the company’s stock.

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.