Tractor Supply (NASDAQ:TSCO) Price Target Increased to $325.00 by Analysts at Truist Financial

Tractor Supply (NASDAQ:TSCO) had its price objective hoisted by Truist Financial from $293.00 to $325.00 in a report issued on Monday, Benzinga reports. They currently have a buy rating on the specialty retailer’s stock.

TSCO has been the subject of a number of other reports. Benchmark reaffirmed a “buy” rating and issued a $280.00 price target on shares of Tractor Supply in a report on Monday, September 30th. Melius Research began coverage on Tractor Supply in a report on Monday, September 23rd. They set a “buy” rating and a $315.00 price objective for the company. Loop Capital boosted their price objective on Tractor Supply from $250.00 to $260.00 and gave the stock a “hold” rating in a report on Friday, September 6th. UBS Group raised Tractor Supply from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $305.00 price objective on shares of Tractor Supply in a report on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Tractor Supply has a consensus rating of “Moderate Buy” and an average target price of $270.91.

Tractor Supply Stock Performance

Tractor Supply stock opened at $298.32 on Monday. The stock has a 50-day simple moving average of $279.22 and a 200 day simple moving average of $271.66. The company has a quick ratio of 0.25, a current ratio of 1.43 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. The stock has a market capitalization of $32.18 billion, a price-to-earnings ratio of 28.77, a P/E/G ratio of 3.81 and a beta of 0.80.

Tractor Supply (NASDAQ:TSCO) last released 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. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. The business had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $4.28 billion. During the same period in the previous year, the business posted $3.83 earnings per share. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, research analysts anticipate that Tractor Supply will post 10.23 earnings per share for the current fiscal year.

Tractor Supply Dividend Announcement

The firm also recently disclosed 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 was Monday, August 26th. This represents a $4.40 annualized dividend and a dividend yield of 1.47%. Tractor Supply’s dividend payout ratio is presently 42.43%.

Insider Activity at Tractor Supply

In related news, 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 completion of the transaction, the chief financial officer now directly owns 9,683 shares in the company, valued at approximately $2,862,682.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Tractor Supply news, SVP Matthew L. Rubin sold 540 shares of the company’s stock in a transaction that occurred on 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 transaction, the senior vice president now owns 5,170 shares of the company’s stock, valued at $1,356,349.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kurt D. Barton sold 23,532 shares of the company’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 of the company’s stock, 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. 0.58% of the stock is owned by insiders.

Hedge Funds Weigh In On Tractor Supply

Large investors have recently bought and sold shares of the company. Wedmont Private Capital boosted its position in Tractor Supply by 3.6% during the 1st quarter. Wedmont Private Capital now owns 1,309 shares of the specialty retailer’s stock worth $331,000 after acquiring an additional 45 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Tractor Supply by 527.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 26,501 shares of the specialty retailer’s stock valued at $7,155,000 after acquiring an additional 22,279 shares during the period. Vanguard Group Inc. lifted its holdings in Tractor Supply by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 12,804,873 shares of the specialty retailer’s stock valued at $2,753,432,000 after purchasing an additional 48,439 shares during the last quarter. Congress Asset Management Co. MA lifted its holdings in Tractor Supply by 7.2% during the 1st quarter. Congress Asset Management Co. MA now owns 163,875 shares of the specialty retailer’s stock valued at $42,889,000 after purchasing an additional 10,980 shares during the last quarter. Finally, Ballentine Partners LLC lifted its holdings in Tractor Supply by 2.1% during the 2nd quarter. Ballentine Partners LLC now owns 4,504 shares of the specialty retailer’s stock valued at $1,216,000 after purchasing an additional 93 shares during the last quarter. Institutional investors and hedge funds 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.