Tractor Supply (NASDAQ:TSCO) PT Raised to $285.00 at Raymond James

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

A number of other equities analysts have also commented on the stock. Truist Financial raised their price target on shares of Tractor Supply from $277.00 to $289.00 and gave the stock a buy rating in a research report on Friday. Wedbush reaffirmed a neutral rating and set a $235.00 price target on shares of Tractor Supply in a research report on Tuesday, April 23rd. Robert W. Baird raised their price target on shares of Tractor Supply from $260.00 to $285.00 and gave the stock an outperform rating in a research report on Friday. The Goldman Sachs Group increased their price objective on shares of Tractor Supply from $230.00 to $262.00 and gave the stock a buy rating in a research note on Friday, February 2nd. Finally, UBS Group increased their price objective on shares of Tractor Supply from $220.00 to $240.00 and gave the stock a neutral rating in a research note on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $250.00.

Tractor Supply Price Performance

Shares of TSCO opened at $277.88 on Friday. The firm has a market capitalization of $29.99 billion, a PE ratio of 27.06, a PEG ratio of 3.47 and a beta of 0.84. The company’s 50-day moving average is $253.27 and its 200-day moving average is $227.47. Tractor Supply has a fifty-two week low of $185.00 and a fifty-two week high of $278.16. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.40 and a quick ratio of 0.19.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.13. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same period last year, the firm earned $1.65 earnings per share. Tractor Supply’s revenue for the quarter was up 2.8% compared to the same quarter last year. Equities analysts forecast that Tractor Supply will post 10.26 EPS for the current year.

Tractor Supply Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were given a dividend of $1.10 per share. The ex-dividend date was Friday, February 23rd. This is an increase 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 dividend payout ratio (DPR) is currently 42.84%.

Insider Buying and Selling

In related news, CFO Kurt D. Barton sold 4,335 shares of Tractor Supply stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $257.00, for a total transaction 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Tractor Supply news, CFO Kurt D. Barton sold 401 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $232.06, for a total transaction of $93,056.06. Following the completion of the transaction, the chief financial officer now owns 25,013 shares in the company, valued at approximately $5,804,516.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kurt D. Barton sold 4,335 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 20,678 shares of the company’s stock, valued at approximately $5,314,246. The disclosure for this sale can be found here. Insiders have sold a total of 90,090 shares of company stock worth $21,201,877 in the last ninety days. Company insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TSCO. OFI Invest Asset Management bought a new position in Tractor Supply during the 3rd quarter worth approximately $25,000. Future Financial Wealth Managment LLC bought a new position in Tractor Supply during the 1st quarter worth approximately $26,000. Private Wealth Management Group LLC bought a new position in Tractor Supply during the 4th quarter worth approximately $27,000. Pinnacle Bancorp Inc. bought a new position in Tractor Supply during the 4th quarter worth approximately $28,000. Finally, Rise Advisors LLC raised its holdings in Tractor Supply by 157.1% during the 1st quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock worth $28,000 after purchasing an additional 66 shares during the last quarter. 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.