Tractor Supply (NASDAQ:TSCO) Given New $234.00 Price Target at Barclays

Tractor Supply (NASDAQ:TSCOFree Report) had its price objective upped by Barclays from $192.00 to $234.00 in a research report released on Wednesday morning, Benzinga reports. Barclays currently has an equal weight rating on the specialty retailer’s stock.

Several other equities research analysts have also issued reports on the company. The Goldman Sachs Group raised their price objective on Tractor Supply from $230.00 to $262.00 and gave the company a buy rating in a research note on Friday, February 2nd. Truist Financial increased their price target on Tractor Supply from $256.00 to $277.00 and gave the stock a buy rating in a report on Tuesday, April 2nd. Guggenheim increased their price target on Tractor Supply from $210.00 to $255.00 and gave the stock a buy rating in a report on Friday, February 2nd. Mizuho initiated coverage on Tractor Supply in a report on Tuesday, March 19th. They issued a neutral rating and a $245.00 price target on the stock. Finally, Benchmark reiterated a buy rating and issued a $256.00 price target on shares of Tractor Supply in a report on Wednesday, April 3rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Hold and an average target price of $241.65.

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Tractor Supply Price Performance

NASDAQ:TSCO opened at $252.79 on Wednesday. The firm has a market capitalization of $27.28 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 3.80 and a beta of 0.84. Tractor Supply has a 1 year low of $185.00 and a 1 year high of $268.02. The business has a 50 day simple moving average of $249.89 and a 200-day simple moving average of $224.77. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.50 and a quick ratio of 0.28.

Tractor Supply (NASDAQ:TSCOGet Free Report) last posted its quarterly earnings data 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. The business had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.67 billion. Tractor Supply had a return on equity of 53.60% and a net margin of 7.61%. The company’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same period last year, the company earned $2.43 EPS. Equities analysts forecast that Tractor Supply will post 10.2 EPS for the current year.

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were issued a dividend of $1.10 per share. This is an increase from Tractor Supply’s previous quarterly dividend of $1.03. This represents a $4.40 annualized dividend and a yield of 1.74%. The ex-dividend date was Friday, February 23rd. Tractor Supply’s dividend payout ratio (DPR) is presently 43.61%.

Insider Activity

In other news, EVP Jonathan S. Estep sold 7,120 shares of Tractor Supply stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $232.26, for a total value of $1,653,691.20. Following the transaction, the executive vice president now directly owns 13,605 shares in the company, valued at approximately $3,159,897.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Jonathan S. Estep sold 7,120 shares of Tractor Supply stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $232.26, for a total value of $1,653,691.20. Following the transaction, the executive vice president now directly owns 13,605 shares in the company, valued at approximately $3,159,897.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert D. Mills sold 48,334 shares of Tractor Supply stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $232.23, for a total value of $11,224,604.82. Following the completion of the transaction, the executive vice president now owns 22,167 shares in the company, valued at $5,147,842.41. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,090 shares of company stock worth $21,201,877. 0.24% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TSCO. Wellington Management Group LLP boosted its position in shares of Tractor Supply by 9,370.6% in the 3rd quarter. Wellington Management Group LLP now owns 2,822,151 shares of the specialty retailer’s stock worth $573,038,000 after purchasing an additional 2,792,352 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Tractor Supply by 273.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,961,762 shares of the specialty retailer’s stock worth $636,869,000 after purchasing an additional 2,169,088 shares in the last quarter. Norges Bank acquired a new stake in shares of Tractor Supply in the 4th quarter worth $260,560,000. Alliancebernstein L.P. boosted its position in shares of Tractor Supply by 84.0% in the 4th quarter. Alliancebernstein L.P. now owns 2,159,008 shares of the specialty retailer’s stock worth $485,712,000 after purchasing an additional 985,799 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Tractor Supply by 76.7% in the 3rd quarter. Invesco Ltd. now owns 2,024,182 shares of the specialty retailer’s stock worth $411,010,000 after purchasing an additional 878,874 shares in the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Tractor Supply Company Profile

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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.

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Analyst Recommendations for Tractor Supply (NASDAQ:TSCO)

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