Tractor Supply (NASDAQ:TSCO) Given New $289.00 Price Target at Truist Financial

Tractor Supply (NASDAQ:TSCO) had its price target lifted by Truist Financial from $277.00 to $289.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a buy rating on the specialty retailer’s stock.

A number of other brokerages have also weighed in on TSCO. Wedbush reaffirmed a neutral rating and set a $235.00 target price on shares of Tractor Supply in a research note on Tuesday. UBS Group lifted their price target on shares of Tractor Supply from $220.00 to $240.00 and gave the company a neutral rating in a research report on Friday, February 2nd. Wells Fargo & Company upped their price objective on shares of Tractor Supply from $250.00 to $285.00 and gave the stock an overweight rating in a report on Monday, March 25th. Guggenheim lifted their target price on shares of Tractor Supply from $210.00 to $255.00 and gave the company a buy rating in a report on Friday, February 2nd. Finally, Benchmark restated a buy rating and issued a $256.00 price target on shares of Tractor Supply in a research note on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Tractor Supply currently has a consensus rating of Hold and an average price target of $248.17.

Tractor Supply Stock Performance

Shares of NASDAQ TSCO opened at $273.90 on Friday. The stock’s 50-day moving average is $252.44 and its 200 day moving average is $226.59. The stock has a market cap of $29.56 billion, a price-to-earnings ratio of 26.67, a P/E/G ratio of 3.97 and a beta of 0.84. Tractor Supply has a 1-year low of $185.00 and a 1-year high of $274.66. The company has a current ratio of 1.40, a quick ratio of 0.28 and a debt-to-equity ratio of 0.83.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.13. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.40 billion. During the same quarter in the prior year, the firm posted $1.65 earnings per share. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Tractor Supply will post 10.23 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were paid a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Friday, February 23rd. This is a boost from Tractor Supply’s previous quarterly dividend of $1.03. Tractor Supply’s dividend payout ratio is 42.84%.

Insider Activity

In related news, CFO Kurt D. Barton sold 401 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $232.06, for a total transaction of $93,056.06. Following the completion of the transaction, the chief financial officer now directly owns 25,013 shares in the company, valued at approximately $5,804,516.78. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Tractor Supply news, EVP Robert D. Mills sold 48,334 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $232.23, for a total transaction of $11,224,604.82. Following the completion of the sale, the executive vice president now directly owns 22,167 shares of the company’s stock, valued at approximately $5,147,842.41. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kurt D. Barton sold 401 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $232.06, for a total transaction of $93,056.06. Following the completion of the transaction, the chief financial officer now directly owns 25,013 shares in the company, valued at approximately $5,804,516.78. 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 in the last 90 days. Company insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Patrick M Sweeney & Associates Inc. lifted its position in shares of Tractor Supply by 8.0% in the first quarter. Patrick M Sweeney & Associates Inc. now owns 1,064 shares of the specialty retailer’s stock worth $279,000 after buying an additional 79 shares in the last quarter. Tritonpoint Wealth LLC increased its stake in Tractor Supply by 5.4% during the first quarter. Tritonpoint Wealth LLC now owns 3,340 shares of the specialty retailer’s stock worth $874,000 after acquiring an additional 172 shares during the last quarter. Lindbrook Capital LLC lifted its position in Tractor Supply by 10.9% in the first quarter. Lindbrook Capital LLC now owns 459 shares of the specialty retailer’s stock worth $120,000 after buying an additional 45 shares during the last quarter. WCM Investment Management LLC boosted its stake in Tractor Supply by 2.3% during the first quarter. WCM Investment Management LLC now owns 3,702 shares of the specialty retailer’s stock worth $969,000 after buying an additional 82 shares during the period. Finally, TRUE Private Wealth Advisors increased its position in Tractor Supply by 6.5% during the first quarter. TRUE Private Wealth Advisors now owns 1,698 shares of the specialty retailer’s stock valued at $444,000 after acquiring an additional 104 shares during the last quarter. Institutional investors own 98.72% of the company’s stock.

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.