Tractor Supply (TSCO) to Distribute Quarterly Dividend of $0.92 on March 11th

Tractor Supply (NASDAQ:TSCO) announced a quarterly dividend on Thursday, February 13th,RTT News reports. Stockholders of record on Wednesday, February 26th will be given a dividend of 0.92 per share by the specialty retailer on Tuesday, March 11th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 6.44%. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22.

Tractor Supply has increased its dividend payment by an average of 28.4% per year over the last three years and has raised its dividend every year for the last 14 years. Tractor Supply has a dividend payout ratio of 36.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Tractor Supply to earn $2.42 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 36.4%.

Tractor Supply Stock Performance

NASDAQ:TSCO opened at $57.14 on Friday. The firm has a market cap of $30.51 billion, a PE ratio of 28.01, a price-to-earnings-growth ratio of 2.70 and a beta of 0.84. Tractor Supply has a fifty-two week low of $46.76 and a fifty-two week high of $61.53. 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 business has a 50 day moving average price of $54.84 and a 200-day moving average price of $55.30.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.28 by ($1.84). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. Equities research analysts predict that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply announced that its Board of Directors has approved a share repurchase program on Thursday, February 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the specialty retailer to buy up to 3.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $54.59, for a total value of $4,809,106.05. Following the completion of the sale, the chief executive officer now directly owns 488,852 shares in the company, valued at approximately $26,686,430.68. This trade represents a 15.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Melissa Kersey sold 9,300 shares of Tractor Supply stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $53.17, for a total value of $494,481.00. Following the completion of the sale, the executive vice president now owns 34,961 shares of the company’s stock, valued at $1,858,876.37. The trade was a 21.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 134,143 shares of company stock worth $7,315,961. 0.24% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

TSCO has been the subject of a number of research analyst reports. Evercore ISI raised Tractor Supply from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 15th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $67.00 price target on shares of Tractor Supply in a research note on Thursday, January 30th. Wedbush reaffirmed a “neutral” rating and issued a $54.00 price target on shares of Tractor Supply in a research note on Friday, October 25th. Truist Financial decreased their price objective on Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a report on Friday, January 31st. Finally, DA Davidson increased their price objective on Tractor Supply from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $59.22.

About Tractor Supply

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.