Tractor Supply (NASDAQ:TSCO) Declares Quarterly Dividend of $0.92

Tractor Supply (NASDAQ:TSCOGet Rating) announced a quarterly dividend on Thursday, August 4th, Zacks reports. Stockholders of record on Monday, August 22nd will be given a dividend of 0.92 per share by the specialty retailer on Wednesday, September 7th. This represents a $3.68 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend is Friday, August 19th.

Tractor Supply has a dividend payout ratio of 35.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Tractor Supply to earn $10.38 per share next year, which means the company should continue to be able to cover its $3.68 annual dividend with an expected future payout ratio of 35.5%.

Tractor Supply Stock Up 0.8 %

Shares of Tractor Supply stock traded up $1.52 during trading on Friday, hitting $189.36. 900,054 shares of the stock were exchanged, compared to its average volume of 1,292,296. Tractor Supply has a 12-month low of $166.49 and a 12-month high of $241.54. The stock has a market cap of $21.19 billion, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 1.94 and a beta of 0.90. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.44 and a quick ratio of 0.33. The firm’s 50-day moving average price is $195.71 and its 200 day moving average price is $208.01.

Tractor Supply (NASDAQ:TSCOGet Rating) last announced its quarterly earnings results on Thursday, July 21st. The specialty retailer reported $3.53 earnings per share for the quarter, beating analysts’ consensus estimates of $3.51 by $0.02. Tractor Supply had a net margin of 7.76% and a return on equity of 53.29%. The firm had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.89 billion. During the same period in the previous year, the company earned $3.19 earnings per share. Tractor Supply’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, analysts forecast that Tractor Supply will post 9.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on TSCO shares. Robert W. Baird reissued a “buy” rating and issued a $250.00 price target on shares of Tractor Supply in a research report on Thursday, April 14th. Truist Financial upped their target price on shares of Tractor Supply from $246.00 to $252.00 and gave the company a “buy” rating in a report on Friday, July 22nd. MKM Partners assumed coverage on shares of Tractor Supply in a report on Thursday, July 28th. They issued a “buy” rating and a $230.00 target price for the company. Bank of America raised shares of Tractor Supply from a “neutral” rating to a “buy” rating and upped their target price for the company from $250.00 to $260.00 in a report on Tuesday, June 14th. Finally, Citigroup upped their target price on shares of Tractor Supply from $240.00 to $250.00 and gave the company a “buy” rating in a report on Friday, April 22nd. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Tractor Supply has an average rating of “Moderate Buy” and an average price target of $240.53.

Insider Transactions at Tractor Supply

In related news, Director Cynthia T. Jamison sold 5,200 shares of the firm’s stock in a transaction that occurred on Thursday, May 12th. The shares were sold at an average price of $195.10, for a total transaction of $1,014,520.00. Following the sale, the director now owns 24,280 shares in the company, valued at $4,737,028. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Institutional Trading of Tractor Supply

A number of hedge funds have recently bought and sold shares of the company. Covestor Ltd boosted its holdings in shares of Tractor Supply by 82.6% in the 1st quarter. Covestor Ltd now owns 409 shares of the specialty retailer’s stock valued at $96,000 after purchasing an additional 185 shares during the last quarter. Fund Management at Engine No. 1 LLC acquired a new position in shares of Tractor Supply in the 1st quarter valued at $225,000. Penserra Capital Management LLC acquired a new position in shares of Tractor Supply in the 1st quarter valued at $231,000. Graham Capital Management L.P. acquired a new position in shares of Tractor Supply in the 1st quarter valued at $256,000. Finally, Mather Group LLC. boosted its holdings in shares of Tractor Supply by 14.5% in the 1st quarter. Mather Group LLC. now owns 1,351 shares of the specialty retailer’s stock valued at $315,000 after purchasing an additional 171 shares during the last quarter. Institutional investors and hedge funds own 83.17% of the company’s stock.

Tractor Supply Company Profile

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Tractor Supply Company operates as a rural lifestyle retailer in the United States. The company offers a selection of merchandise, including equine, livestock, pet, and small animal products necessary for their health, care, growth, and containment; hardware, truck, towing, and tool products; seasonal products, such as heating products, lawn and garden items, power equipment, gifts, and toys; work/recreational clothing and footwear; and maintenance products for agricultural and rural use.

See Also

Dividend History for Tractor Supply (NASDAQ:TSCO)

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