Tractor Supply (NASDAQ:TSCO) Price Target Raised to $325.00

Tractor Supply (NASDAQ:TSCO) had its price target hoisted by Truist Financial from $293.00 to $325.00 in a research report released on Monday, Benzinga reports. Truist Financial currently has a buy rating on the specialty retailer’s stock.

A number of other research firms have also recently commented on TSCO. Citigroup upgraded shares of Tractor Supply from a hold rating to a strong-buy rating in a research note on Friday, October 4th. Evercore ISI cut shares of Tractor Supply from an outperform rating to an in-line rating and set a $300.00 target price on the stock. in a research note on Thursday, October 3rd. Wells Fargo & Company raised their target price on shares of Tractor Supply from $295.00 to $325.00 and gave the stock an overweight rating in a research note on Friday. Melius Research initiated coverage on shares of Tractor Supply in a research note on Monday, September 23rd. They set a buy rating and a $315.00 target price on the stock. Finally, UBS Group upgraded shares of Tractor Supply from a hold rating to a strong-buy rating in a research report on Friday, October 4th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $268.32.

Tractor Supply Stock Performance

TSCO opened at $303.74 on Monday. 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 cap of $32.75 billion, a price-to-earnings ratio of 29.58, a PEG ratio of 3.73 and a beta of 0.80. The company’s 50 day moving average is $276.64 and its 200 day moving average is $270.97. Tractor Supply has a 12-month low of $185.00 and a 12-month high of $306.38.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $3.93. The company had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.28 billion. Tractor Supply had a net margin of 7.65% and a return on equity of 51.84%. The firm’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.83 earnings per share. On average, equities research analysts predict that Tractor Supply will post 10.23 EPS for the current year.

Tractor Supply Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Monday, August 26th. Tractor Supply’s payout ratio is 42.84%.

Insiders Place Their Bets

In other Tractor Supply news, SVP Matthew L. Rubin sold 540 shares of Tractor Supply stock in a transaction on Monday, August 12th. The shares were sold at an average price of $262.35, for a total transaction of $141,669.00. Following the completion of the transaction, the senior vice president now directly owns 5,170 shares of the company’s stock, valued at $1,356,349.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Kurt D. Barton sold 23,532 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $295.64, for a total transaction of $6,957,000.48. Following the completion of the sale, the chief financial officer now directly owns 9,683 shares of the company’s stock, valued at approximately $2,862,682.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Matthew L. Rubin sold 540 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $262.35, for a total transaction of $141,669.00. Following the sale, the senior vice president now directly owns 5,170 shares of the company’s stock, valued at $1,356,349.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.

Institutional Trading of Tractor Supply

Several institutional investors and hedge funds have recently made changes to their positions in TSCO. Price T Rowe Associates Inc. MD raised its holdings in shares of Tractor Supply by 12.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,330,621 shares of the specialty retailer’s stock valued at $871,691,000 after acquiring an additional 368,859 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Tractor Supply by 2,921.4% in the second quarter. Marshall Wace LLP now owns 357,225 shares of the specialty retailer’s stock valued at $96,451,000 after acquiring an additional 345,402 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of Tractor Supply by 11,952.8% in the first quarter. Clearbridge Investments LLC now owns 241,177 shares of the specialty retailer’s stock valued at $63,121,000 after acquiring an additional 239,176 shares in the last quarter. Employees Retirement System of Texas bought a new stake in shares of Tractor Supply in the second quarter valued at about $38,070,000. Finally, Swedbank AB bought a new position in Tractor Supply in the first quarter worth about $34,262,000. 98.72% of the stock is currently owned by institutional investors.

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.