Tractor Supply Company (NASDAQ:TSCO) closed Thursday at $188.41 per share, down from $189.96 a day earlier. While Tractor Supply Company has underperformed by -0.82%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, TSCO fell by -11.07%, with highs and lows ranging from $241.54 to $166.49, whereas the simple moving average fell by -9.97% in the last 200 days.
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On July 28, 2022, MKM Partners started tracking Tractor Supply Company (NASDAQ: TSCO) recommending Buy. A report published by BofA Securities on June 14, 2022, Upgraded its rating to ‘Buy’ for TSCO. Oppenheimer also Upgraded TSCO shares as ‘Outperform’, setting a target price of $270 on the company’s shares in a report dated March 18, 2022. Citigroup January 28, 2022d the rating to Buy on January 28, 2022, and set its price target from $230 to $240. Truist initiated its ‘Buy’ rating for TSCO, as published in its report on January 13, 2022. Argus’s report from December 30, 2021 suggests a price prediction of $255 for TSCO shares, giving the stock a ‘Buy’ rating. Gordon Haskett also rated the stock as ‘Buy’.
Analysis of Tractor Supply Company (TSCO)
The current dividend for TSCO investors is set at $3.68 per share, indicating investors will get a return regardless of how the company performs over the next quarter. Further, the quarter-over-quarter increase in sales is 8.40%, showing a positive trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Tractor Supply Company’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of 53.30% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 0.30, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
As an indicator of volatility for any stock, average volume can also be very valuable, and TSCO is recording an average volume of 1.11M. On a monthly basis, the volatility of the stock is set at 2.80%, whereas on a weekly basis, it is put at 2.40%, with a gain of 0.24% over the past seven days. Furthermore, long-term investors anticipate a median target price of $235.88, showing growth from the present price of $188.41, which can serve as yet another indication of whether TSCO is worth investing in or should be passed over.
How Do You Analyze Tractor Supply Company Shares?
Tractor Supply Company (TSCO) is based in the USA and is one of the most prominent companies operating in the Specialty Retail market. When comparing Tractor Supply Company shares with other companies under Consumer Cyclical, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 20.80, there is a growth in quarterly earnings of 10.70%.
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.10%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 86.50% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in TSCO shares?
The recent increase in stakes in TSCO appears to be a result of several institutional investors and hedge funds increasing their positions. The Vanguard Group, Inc.’s position in TSCO has increased by 0.23% in the first quarter. The company now owns 12,402,384 shares of the stock, with a value of $2.3 billion, following the purchase of 28,957 additional shares during the last quarter. BlackRock Fund Advisors made another decreased to its shares in TSCO during the first quarter, downing its stake by -4.01%. During the last quarter, the company dropped down -263,472 additional shares for a total stake of worth $1.17 billion, bringing number of shares owned by the company to 6,312,665.
During the first quarter, SSgA Funds Management, Inc. subtracted a -227,324 position in TSCO. Manulife Investment Management Lt purchased an additional 4.57 million shares in the last quarter, increasing its holdings by 9,183.17%, now holding 4.62 million shares worth $854.97 million. At the end of the first quarter, ClearBridge Investments LLC decreased its TSCO holdings by -13.60% and now holds 2.5 million TSCO shares valued at $463.15 million with the lessened -0.39 million shares during the period. TSCO shares are owned by institutional investors to the tune of 86.50% at present.