Tractor Supply (NASDAQ:TSCO) Given New $280.00 Price Target at Evercore ISI

Tractor Supply (NASDAQ:TSCO) had its price objective cut by Evercore ISI from $290.00 to $280.00 in a report released on Friday morning, Benzinga reports. They currently have an outperform rating on the specialty retailer’s stock.

A number of other research firms have also recently weighed in on TSCO. Mizuho reissued a neutral rating and issued a $250.00 price target (up from $245.00) on shares of Tractor Supply in a report on Friday, April 26th. Benchmark reissued a buy rating and issued a $280.00 target price on shares of Tractor Supply in a research note on Friday. Truist Financial raised their price target on shares of Tractor Supply from $289.00 to $293.00 and gave the stock a buy rating in a research note on Friday. Wedbush reissued a neutral rating and issued a $270.00 price objective on shares of Tractor Supply in a research report on Friday. Finally, JPMorgan Chase & Co. raised their target price on shares of Tractor Supply from $241.00 to $263.00 and gave the stock a neutral rating in a research report on Friday, May 3rd. Two 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $256.58.

Tractor Supply Stock Performance

NASDAQ:TSCO opened at $265.08 on Friday. The company has a current ratio of 1.43, a quick ratio of 0.25 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $28.58 billion, a P/E ratio of 25.81, a price-to-earnings-growth ratio of 3.43 and a beta of 0.81. The firm has a 50-day moving average price of $273.11 and a two-hundred day moving average price of $258.06. Tractor Supply has a twelve month low of $185.00 and a twelve month high of $290.38.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, July 25th. The specialty retailer reported $3.93 EPS for the quarter, meeting the consensus estimate of $3.93. Tractor Supply had a net margin of 7.65% and a return on equity of 51.84%. The business had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same period in the prior year, the business earned $3.83 earnings per share. The company’s quarterly revenue was up 1.6% on a year-over-year basis. As a group, research analysts expect that Tractor Supply will post 10.29 earnings per share for the current fiscal year.

Tractor Supply Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 28th were paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend was Friday, May 24th. Tractor Supply’s dividend payout ratio is presently 42.84%.

Institutional Investors Weigh In On Tractor Supply

Large investors have recently modified their holdings of the stock. Mutual Advisors LLC boosted its holdings in Tractor Supply by 19.5% in the 4th quarter. Mutual Advisors LLC now owns 2,088 shares of the specialty retailer’s stock worth $449,000 after acquiring an additional 340 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Tractor Supply by 15.8% in the fourth quarter. Pacer Advisors Inc. now owns 8,252 shares of the specialty retailer’s stock valued at $1,774,000 after purchasing an additional 1,126 shares during the period. Assenagon Asset Management S.A. grew its holdings in Tractor Supply by 744.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 36,656 shares of the specialty retailer’s stock valued at $7,882,000 after purchasing an additional 32,316 shares in the last quarter. PFG Investments LLC increased its stake in Tractor Supply by 30.3% during the 4th quarter. PFG Investments LLC now owns 1,607 shares of the specialty retailer’s stock worth $346,000 after buying an additional 374 shares during the period. Finally, Blue Trust Inc. boosted its position in Tractor Supply by 112.0% in the 4th quarter. Blue Trust Inc. now owns 390 shares of the specialty retailer’s stock valued at $79,000 after buying an additional 206 shares during the last quarter. Institutional investors and hedge funds 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.