Tractor Supply (NASDAQ:TSCO) Price Target Increased to $289.00 by Analysts at Truist Financial

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

A number of other brokerages have also recently issued reports on TSCO. Robert W. Baird upped their target price on Tractor Supply from $260.00 to $285.00 and gave the company an outperform rating in a research report on Friday. Wells Fargo & Company upped their target price on Tractor Supply from $250.00 to $285.00 and gave the company an overweight rating in a research report on Monday, March 25th. Mizuho reaffirmed 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. UBS Group upped their price objective on Tractor Supply from $220.00 to $240.00 and gave the company a neutral rating in a research note on Friday, February 2nd. Finally, Wedbush reaffirmed a neutral rating and set a $235.00 price objective on shares of Tractor Supply in a research note on Tuesday, April 23rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $250.00.

Tractor Supply Trading Up 1.5 %

NASDAQ:TSCO opened at $277.88 on Friday. The stock has a market cap of $29.99 billion, a P/E ratio of 27.06, a P/E/G ratio of 3.47 and a beta of 0.84. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.19 and a current ratio of 1.40. Tractor Supply has a 1 year low of $185.00 and a 1 year high of $278.16. The stock has a 50-day simple moving average of $253.27 and a 200-day simple moving average of $227.47.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results 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 firm had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.40 billion. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. The business’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.65 EPS. As a group, analysts anticipate that Tractor Supply will post 10.26 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 dividend of $1.10 per share. The ex-dividend date was Friday, February 23rd. This is a boost from Tractor Supply’s previous quarterly dividend of $1.03. This represents a $4.40 annualized dividend and a yield of 1.58%. Tractor Supply’s payout ratio is currently 42.84%.

Insider Buying and Selling

In related news, CEO Harry A. Lawton III sold 20,500 shares of Tractor Supply 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 completion of 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 legal filing with the SEC, which is accessible through the SEC website. In other Tractor Supply news, EVP Jonathan S. Estep sold 7,120 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $232.26, for a total transaction of $1,653,691.20. Following the completion of the transaction, the executive vice president now owns 13,605 shares of the company’s stock, valued at $3,159,897.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Harry A. Lawton III sold 20,500 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 95,192 shares of the company’s stock, valued at approximately $22,173,072.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,090 shares of company stock valued at $21,201,877. 0.58% of the stock is owned by insiders.

Hedge Funds Weigh In On Tractor Supply

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Tractor Supply by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 12,804,873 shares of the specialty retailer’s stock worth $2,753,432,000 after buying an additional 48,439 shares in the last quarter. Capital International Investors increased its position in Tractor Supply by 7.6% during 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 in the last quarter. Capital World Investors grew its position 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 purchasing an additional 531,170 shares during the period. Wellington Management Group LLP grew its position in shares of Tractor Supply by 63.2% in the fourth quarter. Wellington Management Group LLP now owns 4,606,455 shares of the specialty retailer’s stock valued at $990,526,000 after purchasing an additional 1,784,304 shares during the period. Finally, Invesco Ltd. grew its position in shares of Tractor Supply by 76.7% in the third quarter. Invesco Ltd. now owns 2,024,182 shares of the specialty retailer’s stock valued at $411,010,000 after purchasing an additional 878,874 shares during the period. Hedge funds and other 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.