Tractor Supply (NASDAQ:TSCO) Price Target Raised to $289.00 at Truist Financial

Tractor Supply (NASDAQ:TSCO) had its target price boosted by Truist Financial from $277.00 to $289.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the specialty retailer’s stock.

TSCO has been the subject of a number of other reports. Mizuho reiterated a neutral rating and set a $250.00 price objective (up from $245.00) on shares of Tractor Supply in a research note on Friday. Wells Fargo & Company upped their price target on Tractor Supply from $250.00 to $285.00 and gave the stock an overweight rating in a research note on Monday, March 25th. Morgan Stanley restated an underweight rating and issued a $195.00 price target on shares of Tractor Supply in a research note on Tuesday, January 16th. Stephens downgraded Tractor Supply from an overweight rating to an equal weight rating and upped their price target for the stock from $226.00 to $240.00 in a research note on Tuesday, January 23rd. Finally, Telsey Advisory Group restated an outperform rating and issued a $275.00 price target on shares of Tractor Supply in a research note on Thursday, April 25th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $250.00.

Tractor Supply Price Performance

NASDAQ TSCO opened at $277.88 on Friday. The company has a 50-day moving average price of $253.27 and a 200-day moving average price of $227.47. The firm has a market capitalization of $29.99 billion, a P/E ratio of 27.06, a PEG ratio of 3.47 and a beta of 0.84. The company has a quick ratio of 0.19, a current ratio of 1.40 and a debt-to-equity ratio of 0.83. Tractor Supply has a 52 week low of $185.00 and a 52 week high of $278.16.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings data on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.13. The company had revenue of $3.39 billion during 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%. The firm’s revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.65 EPS. Equities research analysts anticipate that Tractor Supply will post 10.26 earnings per share for the current year.

Tractor Supply Increases Dividend

The business also recently declared 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. This represents a $4.40 annualized dividend and a yield of 1.58%. The ex-dividend date was Friday, February 23rd. This is a positive change from Tractor Supply’s previous quarterly dividend of $1.03. Tractor Supply’s dividend payout ratio is presently 42.84%.

Insider Activity at Tractor Supply

In related news, EVP Robert D. Mills sold 48,334 shares of the stock in a transaction 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 sale, the executive vice president now owns 22,167 shares in the company, valued at approximately $5,147,842.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Robert D. Mills sold 48,334 shares of the stock in a transaction 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 sale, the executive vice president now owns 22,167 shares in the company, valued at approximately $5,147,842.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Harry A. Lawton III sold 20,500 shares of the stock in a transaction on 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 sale, the chief executive officer now 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 90 days, insiders have sold 90,090 shares of company stock worth $21,201,877. Company insiders own 0.58% of the company’s stock.

Institutional Trading of Tractor Supply

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Citizens National Bank Trust Department increased its stake in 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 during the period. Lindbrook Capital LLC increased its stake 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 purchasing an additional 45 shares during the period. Wedmont Private Capital increased its stake in Tractor Supply by 3.6% in the first quarter. Wedmont Private Capital now owns 1,309 shares of the specialty retailer’s stock worth $331,000 after purchasing an additional 45 shares during the period. Wahed Invest LLC increased its stake in Tractor Supply by 2.8% in the fourth quarter. Wahed Invest LLC now owns 1,783 shares of the specialty retailer’s stock worth $383,000 after purchasing an additional 49 shares during the period. Finally, Allen Capital Group LLC increased its stake in 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 purchasing an additional 53 shares during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.

About Tractor Supply

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.