Tractor Supply (NASDAQ:TSCO) Sets New 1-Year High Following Analyst Upgrade

Tractor Supply (NASDAQ:TSCO) shares reached a new 52-week high during trading on Monday after Truist Financial raised their price target on the stock from $293.00 to $325.00. Truist Financial currently has a buy rating on the stock. Tractor Supply traded as high as $306.38 and last traded at $304.30, with a volume of 193943 shares trading hands. The stock had previously closed at $303.37.

TSCO has been the topic of several other reports. Citigroup upgraded shares of Tractor Supply from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Telsey Advisory Group restated an “outperform” rating and issued a $305.00 price target on shares of Tractor Supply in a report on Thursday, July 25th. Wells Fargo & Company lifted their price objective on Tractor Supply from $295.00 to $325.00 and gave the stock an “overweight” rating in a report on Friday. Benchmark reissued a “buy” rating and issued a $280.00 target price on shares of Tractor Supply in a report on Monday, September 30th. Finally, Piper Sandler boosted their price objective on shares of Tractor Supply from $300.00 to $332.00 and gave the stock an “overweight” rating in a research report on Monday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Tractor Supply has an average rating of “Moderate Buy” and a consensus target price of $268.32.

Insider Buying and Selling at Tractor Supply

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TSCO. Creative Planning lifted its position in shares of Tractor Supply by 2.7% during the third quarter. Creative Planning now owns 32,004 shares of the specialty retailer’s stock worth $9,311,000 after purchasing an additional 842 shares in the last quarter. Fiduciary Alliance LLC acquired a new position in shares of Tractor Supply in the 3rd quarter worth approximately $555,000. Henrickson Nauta Wealth Advisors Inc. boosted its holdings in Tractor Supply by 3.2% in the third quarter. Henrickson Nauta Wealth Advisors Inc. now owns 1,127 shares of the specialty retailer’s stock worth $328,000 after purchasing an additional 35 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Tractor Supply by 24.1% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,893 shares of the specialty retailer’s stock worth $842,000 after purchasing an additional 562 shares during the period. Finally, Smith Chas P & Associates PA Cpas bought a new position in shares of Tractor Supply in the 3rd quarter worth about $201,000. 98.72% of the stock is owned by hedge funds and other institutional investors.

Tractor Supply Price Performance

The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.25 and a current ratio of 1.43. The company’s fifty day moving average price is $275.68 and its 200 day moving average price is $270.68. The firm has a market capitalization of $32.81 billion, a price-to-earnings ratio of 29.40, a price-to-earnings-growth ratio of 3.73 and a beta of 0.80.

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

Tractor Supply Announces Dividend

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

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.