Tractor Supply (NASDAQ:TSCO) Rating Increased to Strong-Buy at Evercore ISI

Evercore ISI upgraded shares of Tractor Supply (NASDAQ:TSCO) from a hold rating to a strong-buy rating in a report published on Friday morning,Zacks.com reports.

Other research analysts have also issued reports about the company. Robert W. Baird set a $320.00 target price on Tractor Supply in a research report on Thursday, October 17th. Benchmark raised their target price on Tractor Supply from $280.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Piper Sandler raised their target price on Tractor Supply from $300.00 to $332.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Citigroup downgraded Tractor Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 17th. Finally, Truist Financial decreased their price target on Tractor Supply from $325.00 to $317.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $282.82.

Tractor Supply Trading Up 0.4 %

Shares of Tractor Supply stock opened at $276.82 on Friday. Tractor Supply has a fifty-two week low of $193.73 and a fifty-two week high of $307.64. The firm has a market cap of $29.58 billion, a PE ratio of 26.93, a P/E/G ratio of 3.46 and a beta of 0.82. The business’s fifty day moving average is $284.41 and its two-hundred day moving average is $275.42. The company has a quick ratio of 0.17, a current ratio of 1.48 and a debt-to-equity ratio of 0.81.

Tractor Supply Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Monday, November 25th. Tractor Supply’s payout ratio is 42.80%.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, CFO Kurt D. Barton sold 23,532 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $295.64, for a total value of $6,957,000.48. Following the completion of the transaction, the chief financial officer now directly owns 9,683 shares in the company, valued at approximately $2,862,682.12. This represents a 70.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On Tractor Supply

A number of institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its holdings in Tractor Supply by 12.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,330,621 shares of the specialty retailer’s stock worth $871,691,000 after buying an additional 368,859 shares during the last quarter. Marshall Wace LLP boosted its position in Tractor Supply by 2,921.4% during the second quarter. Marshall Wace LLP now owns 357,225 shares of the specialty retailer’s stock worth $96,451,000 after purchasing an additional 345,402 shares during the period. International Assets Investment Management LLC boosted its position in Tractor Supply by 29,058.6% during the third quarter. International Assets Investment Management LLC now owns 233,269 shares of the specialty retailer’s stock worth $67,865,000 after purchasing an additional 232,469 shares during the period. Clearbridge Investments LLC boosted its position in Tractor Supply by 67.4% during the second quarter. Clearbridge Investments LLC now owns 403,710 shares of the specialty retailer’s stock worth $109,002,000 after purchasing an additional 162,533 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of Tractor Supply by 3.5% in the third quarter. Wellington Management Group LLP now owns 4,740,864 shares of the specialty retailer’s stock valued at $1,379,260,000 after acquiring an additional 161,503 shares during the period. 98.72% of the stock is owned by institutional investors.

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.