Evercore ISI Raises Tractor Supply (NASDAQ:TSCO) Price Target to $280.00

Tractor Supply (NASDAQ:TSCO) had its price objective hoisted by Evercore ISI from $270.00 to $280.00 in a report released on Tuesday, Benzinga reports. The firm currently has an outperform rating on the specialty retailer’s stock.

Several other brokerages have also recently issued reports on TSCO. Raymond James cut Tractor Supply from a strong-buy rating to an outperform rating and raised their target price for the stock from $230.00 to $250.00 in a research report on Friday, February 2nd. Mizuho assumed coverage on Tractor Supply in a research report on Tuesday, March 19th. They issued a neutral rating and a $245.00 target price on the stock. The Goldman Sachs Group raised their target price on Tractor Supply from $230.00 to $262.00 and gave the stock a buy rating in a research report on Friday, February 2nd. UBS Group raised their target price on Tractor Supply from $220.00 to $240.00 and gave the stock a neutral rating in a research report on Friday, February 2nd. Finally, Telsey Advisory Group raised their target price on Tractor Supply from $245.00 to $250.00 and gave the stock an outperform rating in a research report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Tractor Supply presently has an average rating of Hold and a consensus target price of $238.91.

Tractor Supply Price Performance

TSCO opened at $261.72 on Tuesday. Tractor Supply has a 12-month low of $185.00 and a 12-month high of $268.02. The company has a current ratio of 1.50, a quick ratio of 0.28 and a debt-to-equity ratio of 0.82. The stock has a fifty day simple moving average of $243.18 and a two-hundred day simple moving average of $219.89. The company has a market cap of $28.24 billion, a price-to-earnings ratio of 25.94, a price-to-earnings-growth ratio of 3.88 and a beta of 0.84.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Thursday, February 1st. The specialty retailer reported $2.28 earnings per share 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 firm had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.67 billion. During the same period last year, the company earned $2.43 earnings per share. The company’s revenue was down 8.6% on a year-over-year basis. Research analysts predict that Tractor Supply will post 10.19 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. Shareholders of record on Monday, February 26th were paid a $1.10 dividend. This is an increase from Tractor Supply’s previous quarterly dividend of $1.03. The ex-dividend date was Friday, February 23rd. This represents a $4.40 dividend on an annualized basis and a yield of 1.68%. Tractor Supply’s payout ratio is presently 43.61%.

Insiders Place Their Bets

In other news, EVP Robert D. Mills sold 48,334 shares of Tractor Supply stock in a transaction that occurred on Wednesday, February 14th. The stock was 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 approximately $5,147,842.41. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Kurt D. Barton sold 4,335 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the completion of the transaction, the chief financial officer now owns 20,678 shares in the company, valued at approximately $5,314,246. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Robert D. Mills sold 48,334 shares of the business’s 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 transaction, the executive vice president now owns 22,167 shares of the company’s stock, valued at approximately $5,147,842.41. The disclosure for this sale can be found here. Insiders have sold a total of 90,090 shares of company stock valued at $21,201,877 in the last quarter. 0.24% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tractor Supply

Large investors have recently bought and sold shares of the business. Citizens National Bank Trust Department lifted its holdings in shares of Tractor Supply by 0.5% in the 4th quarter. Citizens National Bank Trust Department now owns 9,700 shares of the specialty retailer’s stock worth $2,086,000 after buying an additional 45 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Tractor Supply by 17.6% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 327 shares of the specialty retailer’s stock worth $72,000 after buying an additional 49 shares during the period. Wahed Invest LLC lifted its stake in shares of Tractor Supply by 2.8% during the 4th 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 last quarter. Heartland Bank & Trust Co lifted its stake in shares of Tractor Supply by 1.7% during the 3rd quarter. Heartland Bank & Trust Co now owns 3,038 shares of the specialty retailer’s stock worth $617,000 after purchasing an additional 52 shares during the last quarter. Finally, Allen Capital Group LLC raised 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 valued at $1,805,000 after buying an additional 53 shares during the last quarter. 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.