Morgan Stanley Increases Tractor Supply (NASDAQ:TSCO) Price Target to $235.00

Tractor Supply (NASDAQ:TSCO) had its price target lifted by Morgan Stanley from $195.00 to $235.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have an underweight rating on the specialty retailer’s stock.

A number of other research firms also recently issued reports on TSCO. Stephens downgraded shares of Tractor Supply from an overweight rating to an equal weight rating and raised their price objective for the stock from $226.00 to $240.00 in a report on Tuesday, January 23rd. Robert W. Baird raised their price objective on shares of Tractor Supply from $260.00 to $285.00 and gave the company an outperform rating in a research report on Friday. Barclays lifted their target price on shares of Tractor Supply from $234.00 to $240.00 and gave the company an equal weight rating in a research report on Friday. Evercore ISI boosted their price objective on shares of Tractor Supply from $275.00 to $280.00 and gave the stock an outperform rating in a report on Friday. Finally, Guggenheim boosted their price objective on shares of Tractor Supply from $210.00 to $255.00 and gave the stock a buy rating in a report on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $250.00.

Tractor Supply Trading Up 1.5 %

TSCO opened at $277.88 on Friday. The company’s 50 day moving average price is $253.27 and its two-hundred day moving average price is $227.47. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.40 and a quick ratio of 0.19. Tractor Supply has a fifty-two week low of $185.00 and a fifty-two week high of $278.16. The firm has a market capitalization of $29.99 billion, a price-to-earnings ratio of 27.06, a PEG ratio of 3.47 and a beta of 0.84.

Tractor Supply (NASDAQ:TSCO) last released its earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.13. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the previous year, the company earned $1.65 EPS. Tractor Supply’s quarterly revenue was up 2.8% compared to the same quarter last year. As a group, research analysts predict that Tractor Supply will post 10.26 earnings per share for the current year.

Tractor Supply Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were given a $1.10 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This is a boost from Tractor Supply’s previous quarterly dividend of $1.03. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.58%. Tractor Supply’s payout ratio is 42.84%.

Insider Buying and Selling

In related news, EVP Colin Yankee sold 8,675 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $250.00, for a total transaction of $2,168,750.00. Following the completion of the sale, the executive vice president now directly owns 9,673 shares in the company, valued at $2,418,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tractor Supply news, EVP Colin Yankee sold 8,675 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $250.00, for a total value of $2,168,750.00. Following the completion of the sale, the executive vice president now directly owns 9,673 shares in the company, valued at approximately $2,418,250. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Harry A. Lawton III sold 20,500 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $232.93, for a total value of $4,775,065.00. Following the completion of the transaction, the chief executive officer now directly owns 95,192 shares in the company, valued at approximately $22,173,072.56. 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. 0.58% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TSCO. OFI Invest Asset Management purchased a new position in Tractor Supply during the 3rd quarter worth approximately $25,000. Future Financial Wealth Managment LLC purchased a new position in Tractor Supply during the 1st quarter worth approximately $26,000. Private Wealth Management Group LLC purchased a new position in Tractor Supply during the 4th quarter worth approximately $27,000. Pinnacle Bancorp Inc. acquired a new stake in Tractor Supply during the 4th quarter worth approximately $28,000. Finally, Rise Advisors LLC lifted its position in Tractor Supply by 157.1% during the 1st quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock worth $28,000 after acquiring an additional 66 shares during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.

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.