Oppenheimer Holdings Inc. reissued their outperform rating on shares of Tractor Supply Co. (NASDAQ:TSCO) in a research note issued to investors on Monday morning. They currently have a $80.00 price objective on the stock, down from their previous price objective of $110.00.
Several other equities research analysts have also recently issued reports on TSCO. BTIG Research initiated coverage on shares of Tractor Supply in a research report on Wednesday, June 1st. They issued a buy rating and a $115.00 price objective for the company. BMO Capital Markets reaffirmed a hold rating and issued a $101.00 price target on shares of Tractor Supply in a research report on Thursday, June 9th. Guggenheim initiated coverage on shares of Tractor Supply in a research report on Monday, June 13th. They issued a buy rating and a $110.00 price target for the company. Credit Suisse Group AG reaffirmed an outperform rating and issued a $96.00 price target (down previously from $100.00) on shares of Tractor Supply in a research report on Thursday, June 30th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Tractor Supply from $105.00 to $103.00 and set an overweight rating for the company in a research report on Thursday, June 30th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the company. Tractor Supply presently has an average rating of Hold and an average target price of $89.63.
Shares of Tractor Supply (NASDAQ:TSCO) opened at 69.06 on Monday. Tractor Supply has a one year low of $66.77 and a one year high of $97.25. The firm’s 50-day moving average is $78.88 and its 200-day moving average is $88.78. The company has a market cap of $9.23 billion, a PE ratio of 22.15 and a beta of 1.04.
Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Wednesday, July 20th. The company reported $1.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.16. The company earned $1.85 billion during the quarter, compared to analysts’ expectations of $1.93 billion. Tractor Supply had a net margin of 6.57% and a return on equity of 30.30%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.12 EPS. On average, equities analysts anticipate that Tractor Supply will post $3.24 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 30th. Investors of record on Monday, August 15th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date was Thursday, August 11th. Tractor Supply’s dividend payout ratio (DPR) is presently 30.77%.
A number of hedge funds have recently made changes to their positions in TSCO. BARING ASSET MANAGEMENT Ltd increased its stake in shares of Tractor Supply by 7.3% in the second quarter. BARING ASSET MANAGEMENT Ltd now owns 115,031 shares of the company’s stock worth $10,489,000 after buying an additional 7,784 shares during the period. Geode Capital Management LLC increased its stake in shares of Tractor Supply by 6.1% in the first quarter. Geode Capital Management LLC now owns 1,185,331 shares of the company’s stock worth $107,024,000 after buying an additional 68,301 shares during the period. Legal & General Group Plc increased its stake in shares of Tractor Supply by 4.3% in the first quarter. Legal & General Group Plc now owns 454,697 shares of the company’s stock worth $41,132,000 after buying an additional 18,776 shares during the period. National Pension Service increased its stake in shares of Tractor Supply by 4.4% in the first quarter. National Pension Service now owns 88,942 shares of the company’s stock worth $8,046,000 after buying an additional 3,780 shares during the period. Finally, Calvert Investment Management Inc. increased its stake in shares of Tractor Supply by 2.1% in the second quarter. Calvert Investment Management Inc. now owns 8,004 shares of the company’s stock worth $730,000 after buying an additional 166 shares during the period. 91.58% of the stock is currently owned by hedge funds and other institutional investors.
About Tractor Supply
Tractor Supply Company is an operator of rural lifestyle retail stores in the United States. The Company operates in the retail sale of products that support the rural lifestyle segment. The Company focuses on supplying the lifestyle needs of recreational farmers and ranchers, as well as tradesmen and small businesses.
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