Raymond James Boosts Tractor Supply (NASDAQ:TSCO) Price Target to $290.00

Tractor Supply (NASDAQ:TSCO) had its price target lifted by Raymond James from $285.00 to $290.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an outperform rating on the specialty retailer’s stock.

Several other research firms have also weighed in on TSCO. Loop Capital upped their target price on Tractor Supply from $250.00 to $260.00 and gave the company a “hold” rating in a report on Friday, September 6th. Wedbush reissued a “neutral” rating and issued a $270.00 price objective on shares of Tractor Supply in a research note on Friday. Piper Sandler lifted their target price on shares of Tractor Supply from $300.00 to $332.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Citigroup lowered shares of Tractor Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. Finally, Truist Financial cut their price objective on Tractor Supply from $325.00 to $317.00 and set a “buy” rating for the company in a research report on Friday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $277.70.

Tractor Supply Stock Down 0.6 %

TSCO stock opened at $272.77 on Friday. The company has a current ratio of 1.48, a quick ratio of 0.17 and a debt-to-equity ratio of 0.81. The company’s 50-day moving average price is $282.24 and its 200 day moving average price is $273.33. Tractor Supply has a 52 week low of $185.00 and a 52 week high of $307.64. The company has a market cap of $29.42 billion, a P/E ratio of 26.53, a P/E/G ratio of 3.42 and a beta of 0.80.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, July 25th. The specialty retailer reported $3.93 EPS for the quarter, hitting the consensus estimate of $3.93. Tractor Supply had a return on equity of 50.19% and a net margin of 7.53%. The business had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same quarter in the previous year, the company earned $3.83 EPS. The company’s quarterly revenue was up 1.6% on a year-over-year basis. On average, research analysts expect that Tractor Supply will post 10.25 earnings per share for the current fiscal 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 issued a dividend of $1.10 per share. The ex-dividend date was Monday, August 26th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.61%. Tractor Supply’s payout ratio is 42.80%.

Insider Activity at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 540 shares of the company’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 directly owns 5,170 shares in the company, valued at $1,356,349.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, SVP Matthew L. Rubin sold 540 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $262.35, for a total value 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kurt D. Barton sold 23,532 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total value of $6,957,000.48. Following the transaction, the chief financial officer now directly owns 9,683 shares in the company, valued at $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. 0.58% of the stock is owned by insiders.

Hedge Funds Weigh In On Tractor Supply

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TSCO. Future Financial Wealth Managment LLC acquired a new position in shares of Tractor Supply in the first quarter worth about $26,000. LRI Investments LLC purchased a new stake in Tractor Supply during the 1st quarter worth approximately $28,000. Whittier Trust Co. raised its position in shares of Tractor Supply by 60.9% in the 2nd quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock valued at $30,000 after purchasing an additional 42 shares in the last quarter. J.Safra Asset Management Corp boosted its stake in shares of Tractor Supply by 700.0% during the 1st 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 during the last quarter. Finally, OFI Invest Asset Management acquired a new stake in shares of Tractor Supply during the second quarter worth approximately $33,000. 98.72% of the stock is owned by hedge funds and other 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.