Tractor Supply (NASDAQ:TSCO) PT Raised to $240.00 at Barclays

Tractor Supply (NASDAQ:TSCO) had its price target lifted by Barclays from $234.00 to $240.00 in a research report released on Friday, Benzinga reports. The firm currently has an equal weight rating on the specialty retailer’s stock.

Other equities analysts also recently issued research reports about the stock. Evercore ISI dropped their price objective on shares of Tractor Supply from $280.00 to $275.00 and set an outperform rating on the stock in a report on Tuesday, April 16th. Wells Fargo & Company boosted their price objective on shares of Tractor Supply from $250.00 to $285.00 and gave the company an overweight rating in a research report on Monday, March 25th. Guggenheim raised their target price on Tractor Supply from $210.00 to $255.00 and gave the stock a buy rating in a report on Friday, February 2nd. Stephens downgraded Tractor Supply from an overweight rating to an equal weight rating and lifted their target price for the company from $226.00 to $240.00 in a research report on Tuesday, January 23rd. Finally, Wedbush restated a neutral rating and issued a $235.00 price target on shares of Tractor Supply in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $248.17.

Tractor Supply Price Performance

Shares of TSCO opened at $273.90 on Friday. The firm has a fifty day simple moving average of $252.44 and a two-hundred day simple moving average of $226.59. The firm has a market cap of $29.56 billion, a PE ratio of 26.67, a P/E/G ratio of 3.97 and a beta of 0.84. The company has a current ratio of 1.40, a quick ratio of 0.28 and a debt-to-equity ratio of 0.83. Tractor Supply has a 1-year low of $185.00 and a 1-year high of $274.66.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data on Thursday, April 25th. The specialty retailer reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.13. The company had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.40 billion. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. Tractor Supply’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.65 earnings per share. On average, equities analysts anticipate that Tractor Supply will post 10.23 EPS for the current year.

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.61%. This is a positive change from Tractor Supply’s previous quarterly dividend of $1.03. The ex-dividend date was Friday, February 23rd. Tractor Supply’s dividend payout ratio (DPR) is 42.84%.

Insider Activity at Tractor Supply

In other news, EVP Jonathan S. Estep sold 7,120 shares of Tractor Supply stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $232.26, for a total transaction of $1,653,691.20. Following the completion of the transaction, the executive vice president now directly owns 13,605 shares of the company’s stock, valued at approximately $3,159,897.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Harry A. Lawton III sold 20,500 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $232.93, for a total transaction of $4,775,065.00. Following the sale, the chief executive officer now directly owns 95,192 shares of the company’s stock, valued at approximately $22,173,072.56. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Jonathan S. Estep sold 7,120 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $232.26, for a total value of $1,653,691.20. Following the sale, the executive vice president now owns 13,605 shares in the company, valued at $3,159,897.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,090 shares of company stock worth $21,201,877. 0.24% of the stock is owned by corporate insiders.

Institutional Trading of Tractor Supply

Institutional investors and hedge funds have recently made changes to their positions in the business. Patrick M Sweeney & Associates Inc. increased its holdings in Tractor Supply by 8.0% in the 1st quarter. Patrick M Sweeney & Associates Inc. now owns 1,064 shares of the specialty retailer’s stock worth $279,000 after acquiring an additional 79 shares in the last quarter. Tritonpoint Wealth LLC grew its position in shares of Tractor Supply by 5.4% in the first quarter. Tritonpoint Wealth LLC now owns 3,340 shares of the specialty retailer’s stock valued at $874,000 after purchasing an additional 172 shares during the period. Lindbrook Capital LLC increased its stake in shares of Tractor Supply by 10.9% during the first quarter. Lindbrook Capital LLC now owns 459 shares of the specialty retailer’s stock worth $120,000 after purchasing an additional 45 shares in the last quarter. WCM Investment Management LLC raised its position in shares of Tractor Supply by 2.3% during the 1st quarter. WCM Investment Management LLC now owns 3,702 shares of the specialty retailer’s stock worth $969,000 after purchasing an additional 82 shares during the last quarter. Finally, TRUE Private Wealth Advisors lifted its stake in Tractor Supply by 6.5% in the 1st quarter. TRUE Private Wealth Advisors now owns 1,698 shares of the specialty retailer’s stock valued at $444,000 after buying an additional 104 shares in the last quarter. 98.72% of the stock is currently 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.