Tractor Supply (NASDAQ:TSCO) Price Target Raised to $285.00

Tractor Supply (NASDAQ:TSCO) had its price target hoisted by Raymond James from $250.00 to $285.00 in a research report report published on Friday morning, Benzinga reports. Raymond James currently has an outperform rating on the specialty retailer’s stock.

A number of other equities research analysts have also weighed in on TSCO. Truist Financial boosted their target price on shares of Tractor Supply from $277.00 to $289.00 and gave the stock a buy rating in a report on Friday. Wells Fargo & Company boosted their price objective on shares of Tractor Supply from $250.00 to $285.00 and gave the stock an overweight rating in a research note on Monday, March 25th. Wedbush reaffirmed a neutral rating and set a $235.00 target price on shares of Tractor Supply in a research report on Tuesday. UBS Group upped their price target on Tractor Supply from $220.00 to $240.00 and gave the company a neutral rating in a research report on Friday, February 2nd. Finally, Telsey Advisory Group restated an outperform rating and set a $275.00 price objective on shares of Tractor Supply in a research report on Thursday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of Hold and a consensus target price of $248.17.

Tractor Supply Stock Up 3.3 %

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

Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Thursday, April 25th. The specialty retailer reported $1.83 EPS for the quarter, beating the consensus estimate of $1.70 by $0.13. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The company had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same period in the previous year, the company earned $1.65 EPS. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, equities research analysts expect that Tractor Supply will post 10.23 earnings per share for the current fiscal 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 $1.10 dividend. This is a positive change from Tractor Supply’s previous quarterly dividend of $1.03. This represents a $4.40 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Friday, February 23rd. Tractor Supply’s payout ratio is presently 42.84%.

Insider Buying and Selling at Tractor Supply

In other news, CEO Harry A. Lawton III sold 20,500 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $232.93, for a total transaction of $4,775,065.00. Following the transaction, the chief executive officer now directly owns 95,192 shares of the company’s stock, valued at $22,173,072.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Kurt D. Barton sold 401 shares of Tractor Supply stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $232.06, for a total value of $93,056.06. Following the completion of the sale, the chief financial officer now owns 25,013 shares of the company’s stock, valued at $5,804,516.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Harry A. Lawton III sold 20,500 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $232.93, for a total value of $4,775,065.00. Following the completion of the transaction, the chief executive officer now directly owns 95,192 shares in the company, valued at approximately $22,173,072.56. 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. Insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Citizens National Bank Trust Department increased its stake 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 worth $2,086,000 after purchasing an additional 45 shares in the last quarter. Lindbrook Capital LLC increased its stake in Tractor Supply by 10.9% in the 1st quarter. Lindbrook Capital LLC now owns 459 shares of the specialty retailer’s stock worth $120,000 after buying an additional 45 shares in the last quarter. Wedmont Private Capital raised its holdings in Tractor Supply by 3.6% during the first quarter. Wedmont Private Capital now owns 1,309 shares of the specialty retailer’s stock valued at $331,000 after acquiring an additional 45 shares during the period. Wahed Invest LLC lifted its position 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 acquiring an additional 49 shares in the last quarter. Finally, Allen Capital Group LLC boosted its stake 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 worth $1,805,000 after acquiring an additional 53 shares during the period. 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.