DA Davidson Increases Tractor Supply (NASDAQ:TSCO) Price Target to $325.00

Tractor Supply (NASDAQ:TSCO) had its price objective increased by DA Davidson from $300.00 to $325.00 in a research note published on Friday, Benzinga reports. DA Davidson currently has a buy rating on the specialty retailer’s stock. DA Davidson also issued estimates for Tractor Supply’s Q3 2024 earnings at $2.23 EPS, FY2024 earnings at $10.33 EPS and FY2025 earnings at $11.47 EPS.

Other analysts also recently issued research reports about the company. Citigroup downgraded Tractor Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 17th. Barclays lifted their price target on Tractor Supply from $240.00 to $250.00 and gave the company an “equal weight” rating in a research note on Friday. Wedbush reissued a “neutral” rating and issued a $270.00 price target on shares of Tractor Supply in a research note on Friday. Piper Sandler lifted their target price on Tractor Supply from $300.00 to $332.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, UBS Group raised Tractor Supply from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Two research 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $277.70.

Tractor Supply Stock Performance

Shares of Tractor Supply stock opened at $272.77 on Friday. The stock’s fifty day simple moving average is $282.24 and its 200 day simple moving average is $273.33. Tractor Supply has a 12 month low of $185.00 and a 12 month high of $307.64. The company has a market capitalization of $29.42 billion, a PE ratio of 26.53, a PEG ratio of 3.42 and a beta of 0.80. The company has a current ratio of 1.48, a quick ratio of 0.17 and a debt-to-equity ratio of 0.81.

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 the consensus estimate of $3.93. Tractor Supply had a return on equity of 50.19% and a net margin of 7.53%. The firm had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter last year, the business posted $3.83 EPS. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, research analysts predict that Tractor Supply will post 10.25 EPS for the current year.

Tractor Supply Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Monday, August 26th. Tractor Supply’s payout ratio is currently 42.80%.

Insider Buying and Selling

In other 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 transaction of $6,957,000.48. Following the completion of the sale, the chief financial officer now owns 9,683 shares in the company, valued at $2,862,682.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, SVP Matthew L. Rubin sold 540 shares of the business’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 sale, the senior vice president now owns 5,170 shares in the company, valued at $1,356,349.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 sale, the chief financial officer now owns 9,683 shares of the company’s stock, valued at approximately $2,862,682.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tractor Supply

A number of institutional investors have recently made changes to their positions in TSCO. Price T Rowe Associates Inc. MD boosted its holdings in shares of Tractor Supply by 12.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,330,621 shares of the specialty retailer’s stock worth $871,691,000 after acquiring an additional 368,859 shares during the period. Marshall Wace LLP boosted its stake in shares of Tractor Supply by 2,921.4% in the second quarter. Marshall Wace LLP now owns 357,225 shares of the specialty retailer’s stock valued at $96,451,000 after buying an additional 345,402 shares during the period. Clearbridge Investments LLC boosted its stake in shares of Tractor Supply by 11,952.8% in the first quarter. Clearbridge Investments LLC now owns 241,177 shares of the specialty retailer’s stock valued at $63,121,000 after buying an additional 239,176 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Tractor Supply by 29,058.6% in the third quarter. International Assets Investment Management LLC now owns 233,269 shares of the specialty retailer’s stock valued at $67,865,000 after buying an additional 232,469 shares during the period. Finally, Employees Retirement System of Texas bought a new stake in shares of Tractor Supply in the second quarter valued at approximately $38,070,000. Institutional investors 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.