Tractor Supply (NASDAQ:TSCO) Announces $1.10 Quarterly Dividend

Tractor Supply (NASDAQ:TSCO) announced a quarterly dividend on Thursday, May 9th, RTT News reports. Shareholders of record on Tuesday, May 28th will be given a dividend of 1.10 per share by the specialty retailer on Tuesday, June 11th. This represents a $4.40 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Friday, May 24th.

Tractor Supply has increased its dividend by an average of 40.1% annually over the last three years and has raised its dividend annually for the last 15 consecutive years. Tractor Supply has a payout ratio of 38.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Tractor Supply to earn $11.37 per share next year, which means the company should continue to be able to cover its $4.40 annual dividend with an expected future payout ratio of 38.7%.

Tractor Supply Stock Down 1.0 %

Tractor Supply stock opened at $282.76 on Thursday. The business has a fifty day moving average of $262.35 and a two-hundred day moving average of $236.42. The company has a quick ratio of 0.19, a current ratio of 1.40 and a debt-to-equity ratio of 0.83. The firm has a market cap of $30.48 billion, a P/E ratio of 27.53, a P/E/G ratio of 3.72 and a beta of 0.82. Tractor Supply has a twelve month low of $185.00 and a twelve month high of $287.89.

Tractor Supply (NASDAQ:TSCO) last posted its earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.13. The company had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.40 billion. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. Tractor Supply’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.65 earnings per share. On average, analysts forecast that Tractor Supply will post 10.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on TSCO shares. JPMorgan Chase & Co. increased their price objective on Tractor Supply from $241.00 to $263.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Robert W. Baird increased their price objective on Tractor Supply from $260.00 to $285.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Guggenheim increased their price objective on Tractor Supply from $210.00 to $255.00 and gave the company a “buy” rating in a report on Friday, February 2nd. The Goldman Sachs Group increased their price objective on Tractor Supply from $230.00 to $262.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Evercore ISI upped their target price on Tractor Supply from $285.00 to $290.00 and gave the company an “outperform” rating in a research report on Tuesday, May 14th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Tractor Supply currently has an average rating of “Hold” and an average target price of $253.96.

Insiders Place Their Bets

In other news, EVP Colin Yankee sold 8,675 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $250.00, for a total transaction of $2,168,750.00. Following the sale, the executive vice president now directly owns 9,673 shares in the company, valued at approximately $2,418,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Colin Yankee sold 8,675 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $250.00, for a total transaction of $2,168,750.00. Following the sale, the executive vice president now directly owns 9,673 shares in the company, valued at approximately $2,418,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kurt D. Barton sold 4,335 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $257.00, for a total value of $1,114,095.00. Following the sale, the chief financial officer now owns 20,678 shares in the company, valued at $5,314,246. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.

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.