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

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

Several other research analysts have also commented 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 report on Friday, February 2nd. Truist Financial boosted their price target on Tractor Supply from $230.00 to $256.00 and gave the stock a buy rating in a research report on Friday, February 2nd. Telsey Advisory Group lifted their price objective on shares of Tractor Supply from $245.00 to $250.00 and gave the company an outperform rating in a research note on Friday, February 2nd. Wedbush boosted their target price on shares of Tractor Supply from $200.00 to $235.00 and gave the stock a neutral rating in a research report on Friday, February 2nd. Finally, Bank of America lowered shares of Tractor Supply from a neutral rating to an underperform rating and lowered their price target for the company from $207.00 to $171.00 in a report on Friday, December 15th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and an average target price of $238.91.

Tractor Supply Stock Up 0.9 %

TSCO opened at $260.44 on Monday. Tractor Supply has a 1 year low of $185.00 and a 1 year high of $268.02. The firm has a 50 day moving average price of $242.55 and a 200 day moving average price of $219.60. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.28 and a current ratio of 1.50. The company has a market cap of $28.11 billion, a PE ratio of 25.81, a price-to-earnings-growth ratio of 3.89 and a beta of 0.84.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, February 1st. The specialty retailer reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.06. Tractor Supply had a net margin of 7.61% and a return on equity of 53.60%. The company had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.67 billion. During the same quarter in the prior year, the business earned $2.43 earnings per share. The business’s quarterly revenue was down 8.6% compared to the same quarter last year. Sell-side analysts expect that Tractor Supply will post 10.19 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. Stockholders of record on Monday, February 26th were given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.69%. This is a boost from Tractor Supply’s previous quarterly dividend of $1.03. The ex-dividend date was Friday, February 23rd. Tractor Supply’s dividend payout ratio is presently 43.61%.

Insider Buying and Selling

In other news, CEO Harry A. Lawton III sold 20,500 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $232.93, for a total transaction of $4,775,065.00. Following the completion of the transaction, the chief executive officer now 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 accessible through this hyperlink. In related news, CEO Harry A. Lawton III sold 20,500 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was 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 of the company’s stock, valued at approximately $22,173,072.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kurt D. Barton sold 4,335 shares of Tractor Supply stock in a transaction 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 sale, the chief financial officer now directly owns 20,678 shares in the company, valued at approximately $5,314,246. The disclosure for this sale can be found here. Insiders sold a total of 90,090 shares of company stock worth $21,201,877 in the last three months. 0.24% of the stock is owned by insiders.

Hedge Funds Weigh In On Tractor Supply

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its position in Tractor Supply by 0.4% in the first quarter. Vanguard Group Inc. now owns 12,833,541 shares of the specialty retailer’s stock worth $2,994,964,000 after acquiring an additional 46,672 shares in the last quarter. BlackRock Inc. lifted its stake in Tractor Supply by 4.4% during the second quarter. BlackRock Inc. now owns 10,080,496 shares of the specialty retailer’s stock valued at $2,228,798,000 after purchasing an additional 429,199 shares during the last quarter. Capital International Investors grew its position in Tractor Supply by 7.6% in the fourth quarter. Capital International Investors now owns 6,233,852 shares of the specialty retailer’s stock worth $1,340,589,000 after buying an additional 439,954 shares during the last quarter. Capital World Investors increased its holdings in shares of Tractor Supply by 10.0% in the fourth quarter. Capital World Investors now owns 5,849,188 shares of the specialty retailer’s stock valued at $1,257,751,000 after buying an additional 531,170 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Tractor Supply by 63.2% during the 4th quarter. Wellington Management Group LLP now owns 4,606,455 shares of the specialty retailer’s stock valued at $990,526,000 after acquiring an additional 1,784,304 shares during the last quarter. 98.72% of the stock is currently 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.