Tractor Supply (NASDAQ:TSCO) Price Target Increased to $325.00 by Analysts at Wells Fargo & Company

Tractor Supply (NASDAQ:TSCO) had its price target boosted by Wells Fargo & Company from $295.00 to $325.00 in a research note published on Friday, Benzinga reports. They currently have an overweight rating on the specialty retailer’s stock.

Other equities analysts also recently issued reports about the stock. Citigroup raised shares of Tractor Supply from a hold rating to a strong-buy rating in a research note on Friday, October 4th. Telsey Advisory Group reiterated an outperform rating and set a $305.00 price target on shares of Tractor Supply in a research report on Thursday, July 25th. Truist Financial lifted their price target on shares of Tractor Supply from $289.00 to $293.00 and gave the company a buy rating in a research report on Friday, July 26th. Melius Research started coverage on shares of Tractor Supply in a research report on Monday, September 23rd. They set a buy rating and a $315.00 price target for the company. Finally, Benchmark reiterated a buy rating and set a $280.00 price target on shares of Tractor Supply in a research report on Monday, September 30th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $268.32.

Tractor Supply Price Performance

Shares of TSCO opened at $303.74 on Friday. The company has a 50 day moving average price of $276.64 and a 200-day moving average price of $270.97. Tractor Supply has a fifty-two week low of $185.00 and a fifty-two week high of $306.38. The stock has a market capitalization of $32.75 billion, a PE ratio of 29.58, a PEG ratio of 3.73 and a beta of 0.80. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.25 and a current ratio of 1.43.

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

Tractor Supply Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were given 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 dividend payout ratio is presently 42.84%.

Insider Buying and Selling

In related news, CFO Kurt D. Barton sold 23,532 shares of the firm’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 sale, the chief financial officer now directly owns 9,683 shares of the company’s stock, valued at approximately $2,862,682.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Matthew L. Rubin sold 540 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $262.35, for a total value of $141,669.00. Following the transaction, the senior vice president now owns 5,170 shares in the company, valued at approximately $1,356,349.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kurt D. Barton sold 23,532 shares of the firm’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 transaction of $6,957,000.48. Following the completion of the transaction, the chief financial officer now owns 9,683 shares in the company, valued at $2,862,682.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Creative Planning raised its holdings in Tractor Supply by 2.7% in the third quarter. Creative Planning now owns 32,004 shares of the specialty retailer’s stock valued at $9,311,000 after buying an additional 842 shares during the period. Fiduciary Alliance LLC purchased a new position in Tractor Supply in the third quarter valued at approximately $555,000. Henrickson Nauta Wealth Advisors Inc. raised 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 valued at $328,000 after buying an additional 35 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its stake 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 valued at $842,000 after purchasing an additional 562 shares during the period. Finally, Smith Chas P & Associates PA Cpas purchased a new stake in shares of Tractor Supply during the third quarter valued at approximately $201,000. Hedge funds and other 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.