Tractor Supply (NASDAQ:TSCO) Price Target Increased to $270.00 by Analysts at TD Cowen

Tractor Supply (NASDAQ:TSCO) had its price target boosted by TD Cowen from $250.00 to $270.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a buy rating on the specialty retailer’s stock.

Several other equities analysts also recently commented on TSCO. Evercore ISI boosted their price objective on Tractor Supply from $275.00 to $280.00 and gave the company an outperform rating in a research report on Friday. Mizuho restated a neutral rating and issued a $250.00 price objective (up from $245.00) on shares of Tractor Supply in a research report on Friday. Morgan Stanley boosted their price objective on Tractor Supply from $195.00 to $235.00 and gave the company an underweight rating in a research report on Friday. Barclays boosted their price objective on Tractor Supply from $234.00 to $240.00 and gave the company an equal weight rating in a research report on Friday. Finally, Truist Financial boosted their price objective on Tractor Supply from $277.00 to $289.00 and gave the company a buy rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $250.00.

Tractor Supply Price Performance

NASDAQ TSCO opened at $277.88 on Friday. The company has a market capitalization of $29.99 billion, a PE ratio of 27.06, a price-to-earnings-growth ratio of 3.47 and a beta of 0.84. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.19 and a current ratio of 1.40. The business’s fifty day moving average is $253.27 and its 200 day moving average is $227.47. Tractor Supply has a fifty-two week low of $185.00 and a fifty-two week high of $278.16.

Tractor Supply (NASDAQ:TSCO) last released its earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.13. The company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.40 billion. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. Tractor Supply’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.65 earnings per share. Sell-side analysts predict that Tractor Supply will post 10.26 earnings per share for the current year.

Tractor Supply Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were paid a dividend of $1.10 per share. This is a boost from Tractor Supply’s previous quarterly dividend of $1.03. This represents a $4.40 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend was Friday, February 23rd. Tractor Supply’s payout ratio is presently 42.84%.

Insider Activity

In other news, CFO Kurt D. Barton sold 4,335 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 20,678 shares of the company’s stock, valued at $5,314,246. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Colin Yankee sold 8,675 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 9,673 shares of the company’s stock, valued at $2,418,250. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kurt D. Barton sold 4,335 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 20,678 shares of the company’s stock, valued at approximately $5,314,246. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,090 shares of company stock valued at $21,201,877. 0.58% of the stock is currently owned by insiders.

Institutional Trading of Tractor Supply

A number of large investors have recently modified their holdings of the company. Citizens National Bank Trust Department boosted its holdings in shares of Tractor Supply by 0.5% in the fourth quarter. Citizens National Bank Trust Department now owns 9,700 shares of the specialty retailer’s stock valued at $2,086,000 after purchasing an additional 45 shares during the period. Lindbrook Capital LLC boosted its holdings in shares of Tractor Supply by 10.9% in the first quarter. Lindbrook Capital LLC now owns 459 shares of the specialty retailer’s stock valued at $120,000 after purchasing an additional 45 shares during the period. Wedmont Private Capital boosted its holdings in shares of Tractor Supply by 3.6% in the first quarter. Wedmont Private Capital now owns 1,309 shares of the specialty retailer’s stock valued at $331,000 after purchasing an additional 45 shares during the period. Wahed Invest LLC boosted its holdings in shares of Tractor Supply by 2.8% in the fourth quarter. Wahed Invest LLC now owns 1,783 shares of the specialty retailer’s stock valued at $383,000 after purchasing an additional 49 shares during the period. Finally, Allen Capital Group LLC boosted its holdings in shares of Tractor Supply by 0.6% in the third quarter. Allen Capital Group LLC now owns 8,869 shares of the specialty retailer’s stock valued at $1,805,000 after purchasing an additional 53 shares during the period. Hedge funds and other 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.