Tractor Supply (NASDAQ:TSCO) PT Raised to $332.00

Tractor Supply (NASDAQ:TSCO) had its price target hoisted by Piper Sandler from $300.00 to $332.00 in a research note issued to investors on Monday, Benzinga reports. Piper Sandler currently has an overweight rating on the specialty retailer’s stock.

A number of other equities analysts also recently commented on the company. Citigroup upgraded Tractor Supply from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Telsey Advisory Group restated an “outperform” rating and set a $305.00 price objective on shares of Tractor Supply in a research report on Thursday, July 25th. Wedbush reaffirmed a “neutral” rating and issued a $270.00 target price on shares of Tractor Supply in a research report on Friday, July 26th. Wells Fargo & Company raised their target price on Tractor Supply from $295.00 to $325.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Finally, Evercore ISI lowered shares of Tractor Supply from an “outperform” rating to an “in-line” rating and set a $300.00 price target for the company. in a research report on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $270.91.

Tractor Supply Stock Performance

TSCO stock opened at $298.32 on Monday. The firm has a market cap of $32.18 billion, a P/E ratio of 28.77, a P/E/G ratio of 3.81 and a beta of 0.80. The stock’s 50 day simple moving average is $279.22 and its 200 day simple moving average is $271.66. The company has a current ratio of 1.43, a quick ratio of 0.25 and a debt-to-equity ratio of 0.76. Tractor Supply has a 12-month low of $185.00 and a 12-month high of $307.64.

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

Tractor Supply Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend was Monday, August 26th. Tractor Supply’s dividend payout ratio is presently 42.43%.

Insider Activity

In related news, SVP Matthew L. Rubin sold 540 shares of Tractor Supply 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 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 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 stock in a transaction that occurred 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kurt D. Barton sold 23,532 shares of Tractor Supply stock in a transaction that occurred on Tuesday, October 1st. The stock was 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 approximately $2,862,682.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On Tractor Supply

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Future Financial Wealth Managment LLC purchased a new stake in shares of Tractor Supply in the 1st quarter valued at approximately $26,000. LRI Investments LLC purchased a new stake in shares of Tractor Supply in the first quarter valued at $28,000. Rise Advisors LLC lifted its holdings in shares of Tractor Supply by 157.1% in the first quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock valued at $28,000 after purchasing an additional 66 shares in the last quarter. Whittier Trust Co. boosted its position in shares of Tractor Supply by 60.9% in the second quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock worth $30,000 after buying an additional 42 shares during the period. Finally, J.Safra Asset Management Corp grew its holdings in shares of Tractor Supply by 700.0% during the first quarter. J.Safra Asset Management Corp now owns 112 shares of the specialty retailer’s stock valued at $29,000 after buying an additional 98 shares in the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

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.