Tractor Supply (NASDAQ:TSCO) PT Raised to $280.00

Tractor Supply (NASDAQ:TSCO) had its price objective lifted by Evercore ISI from $270.00 to $280.00 in a report released on Tuesday, Benzinga reports. They currently have an outperform rating on the specialty retailer’s stock.

Several other brokerages also recently commented on TSCO. Wells Fargo & Company lifted their target price on Tractor Supply from $250.00 to $285.00 and gave the stock an overweight rating in a report on Monday, March 25th. UBS Group boosted their price objective on Tractor Supply from $220.00 to $240.00 and gave the company a neutral rating in a research note on Friday, February 2nd. Bank of America downgraded Tractor Supply from a neutral rating to an underperform rating and dropped their price objective for the company from $207.00 to $171.00 in a research note on Friday, December 15th. Truist Financial boosted their price objective on Tractor Supply from $230.00 to $256.00 and gave the company a buy rating in a research note on Friday, February 2nd. Finally, Wedbush boosted their price objective on Tractor Supply from $200.00 to $235.00 and gave the company a neutral rating in a research note on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $238.91.

Tractor Supply Trading Up 0.5 %

Shares of TSCO stock opened at $261.72 on Tuesday. The firm has a market capitalization of $28.25 billion, a P/E ratio of 25.94, a P/E/G ratio of 3.91 and a beta of 0.84. Tractor Supply has a twelve month low of $185.00 and a twelve month high of $268.02. The company has a quick ratio of 0.28, a current ratio of 1.50 and a debt-to-equity ratio of 0.82. The stock’s fifty day simple moving average is $243.79 and its 200 day simple moving average is $220.20.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Thursday, February 1st. The specialty retailer reported $2.28 EPS for the quarter, topping the consensus estimate of $2.22 by $0.06. The firm had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.67 billion. Tractor Supply had a return on equity of 53.60% and a net margin of 7.61%. The business’s quarterly revenue was down 8.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.43 EPS. As a group, sell-side analysts predict that Tractor Supply will post 10.19 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were issued a $1.10 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This is a positive change from Tractor Supply’s previous quarterly dividend of $1.03. This represents a $4.40 annualized dividend and a dividend yield of 1.68%. Tractor Supply’s dividend payout ratio is currently 43.61%.

Insider Activity

In other Tractor Supply news, CFO Kurt D. Barton sold 4,335 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the completion of the transaction, the chief financial officer now directly owns 20,678 shares of the company’s stock, valued at $5,314,246. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Tractor Supply news, EVP Colin Yankee sold 8,675 shares of the stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 9,673 shares of the company’s stock, valued at $2,418,250. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kurt D. Barton sold 4,335 shares of the stock in a transaction on 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 transaction, the chief financial officer now directly owns 20,678 shares of the company’s stock, valued at $5,314,246. The disclosure for this sale can be found here. Insiders sold a total of 90,090 shares of company stock valued at $21,201,877 over the last three months. Corporate insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On Tractor Supply

Several institutional investors have recently made changes to their positions in TSCO. Vanguard Group Inc. raised its position in shares of Tractor Supply by 0.4% in the first quarter. Vanguard Group Inc. now owns 12,833,541 shares of the specialty retailer’s stock worth $2,994,964,000 after buying an additional 46,672 shares in the last quarter. BlackRock Inc. raised its position in shares of Tractor Supply by 4.4% in the second quarter. BlackRock Inc. now owns 10,080,496 shares of the specialty retailer’s stock worth $2,228,798,000 after buying an additional 429,199 shares in the last quarter. Capital International Investors increased its stake in Tractor Supply by 7.6% in the fourth quarter. Capital International Investors now owns 6,233,852 shares of the specialty retailer’s stock valued at $1,340,589,000 after acquiring an additional 439,954 shares during the last quarter. Capital World Investors increased its stake in Tractor Supply by 10.0% in the fourth quarter. Capital World Investors now owns 5,849,188 shares of the specialty retailer’s stock valued at $1,257,751,000 after acquiring an additional 531,170 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in Tractor Supply by 63.2% in the fourth quarter. Wellington Management Group LLP now owns 4,606,455 shares of the specialty retailer’s stock valued at $990,526,000 after acquiring an additional 1,784,304 shares during the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

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.