Tractor Supply (NASDAQ:TSCO) Given New $285.00 Price Target at Wells Fargo & Company

Tractor Supply (NASDAQ:TSCO) had its price objective increased by Wells Fargo & Company from $250.00 to $285.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an overweight rating on the specialty retailer’s stock.

Other equities research analysts also recently issued research reports about the company. Telsey Advisory Group upped their price objective on Tractor Supply from $245.00 to $250.00 and gave the company an outperform rating in a report on Friday, February 2nd. The Goldman Sachs Group upped their price objective on Tractor Supply from $230.00 to $262.00 and gave the company a buy rating in a report on Friday, February 2nd. Guggenheim upped their price objective on Tractor Supply from $210.00 to $255.00 and gave the company a buy rating in a report on Friday, February 2nd. Morgan Stanley reiterated an underweight rating and issued a $195.00 price objective on shares of Tractor Supply in a report on Tuesday, January 16th. Finally, Mizuho started coverage on Tractor Supply in a report on Tuesday, March 19th. They issued a neutral rating and a $245.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and an average target price of $238.91.

Tractor Supply Trading Up 0.5 %

Shares of TSCO opened at $261.72 on Monday. The company has a quick ratio of 0.28, a current ratio of 1.50 and a debt-to-equity ratio of 0.82. Tractor Supply has a 12-month low of $185.00 and a 12-month high of $268.02. The firm has a market capitalization of $28.24 billion, a PE ratio of 25.94, a price-to-earnings-growth ratio of 3.88 and a beta of 0.84. The stock’s fifty day simple moving average is $243.18 and its 200-day simple moving average is $219.89.

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

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were issued a dividend of $1.10 per share. The ex-dividend date was Friday, February 23rd. This is an increase from Tractor Supply’s previous quarterly dividend of $1.03. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.68%. Tractor Supply’s dividend payout ratio (DPR) is presently 43.61%.

Insider Buying and Selling

In related news, SVP Matthew L. Rubin sold 725 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $238.09, for a total transaction of $172,615.25. Following the completion of the transaction, the senior vice president now directly owns 5,710 shares in the company, valued at $1,359,493.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Robert D. Mills sold 48,334 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $232.23, for a total transaction of $11,224,604.82. Following the completion of the transaction, the executive vice president now directly owns 22,167 shares of the company’s stock, valued at $5,147,842.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Matthew L. Rubin sold 725 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $238.09, for a total value of $172,615.25. Following the transaction, the senior vice president now directly owns 5,710 shares of the company’s stock, valued at $1,359,493.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 90,090 shares of company stock worth $21,201,877. 0.24% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. LPL Financial LLC boosted its position in Tractor Supply by 4.6% during the third quarter. LPL Financial LLC now owns 113,873 shares of the specialty retailer’s stock valued at $23,122,000 after purchasing an additional 5,014 shares during the last quarter. ST Germain D J Co. Inc. acquired a new position in Tractor Supply during the second quarter valued at approximately $29,000. Simon Quick Advisors LLC boosted its position in Tractor Supply by 21.1% during the third quarter. Simon Quick Advisors LLC now owns 1,551 shares of the specialty retailer’s stock valued at $315,000 after purchasing an additional 270 shares during the last quarter. State Street Corp boosted its position in Tractor Supply by 2.4% during the second quarter. State Street Corp now owns 4,568,376 shares of the specialty retailer’s stock valued at $1,010,068,000 after purchasing an additional 108,622 shares during the last quarter. Finally, Natixis Advisors L.P. boosted its position in Tractor Supply by 8.7% during the third quarter. Natixis Advisors L.P. now owns 55,947 shares of the specialty retailer’s stock valued at $11,360,000 after purchasing an additional 4,469 shares during the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

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.