Evercore ISI Increases Tractor Supply (NASDAQ:TSCO) Price Target to $280.00

Tractor Supply (NASDAQ:TSCO) had its price objective hoisted by Evercore ISI from $270.00 to $280.00 in a report issued on Tuesday, Benzinga reports. They currently have an outperform rating on the specialty retailer’s stock.

TSCO has been the subject of a number of other reports. Mizuho began coverage on Tractor Supply in a research report on Tuesday, March 19th. They issued a neutral rating and a $245.00 price objective for the company. Bank of America lowered Tractor Supply from a neutral rating to an underperform rating and lowered their price objective for the stock from $207.00 to $171.00 in a research report on Friday, December 15th. Morgan Stanley reiterated an underweight rating and issued a $195.00 price objective on shares of Tractor Supply in a research report on Tuesday, January 16th. Truist Financial boosted their target price on Tractor Supply from $230.00 to $256.00 and gave the stock a buy rating in a research report on Friday, February 2nd. Finally, Stephens lowered Tractor Supply from an overweight rating to an equal weight rating and boosted their target price for the stock from $226.00 to $240.00 in a research report on Tuesday, January 23rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Tractor Supply currently has an average rating of Hold and an average price target of $238.91.

Tractor Supply Stock Performance

Tractor Supply stock opened at $261.72 on Tuesday. The stock has a 50-day simple moving average of $243.79 and a 200 day simple moving average of $220.20. The company has a quick ratio of 0.28, a current ratio of 1.50 and a debt-to-equity ratio of 0.82. Tractor Supply has a 12-month low of $185.00 and a 12-month high of $268.02. The stock has a market capitalization of $28.25 billion, a price-to-earnings ratio of 25.94, a P/E/G ratio of 3.91 and a beta of 0.84.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, February 1st. The specialty retailer reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.06. The business had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.67 billion. Tractor Supply had a return on equity of 53.60% and a net margin of 7.61%. The firm’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.43 earnings per share. On average, research analysts anticipate that Tractor Supply will post 10.19 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were paid a $1.10 dividend. This is a boost from Tractor Supply’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $4.40 annualized dividend and a yield of 1.68%. Tractor Supply’s payout ratio is presently 43.61%.

Insider Buying and Selling at Tractor Supply

In other news, CFO Kurt D. Barton sold 4,335 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the sale, the chief financial officer now owns 20,678 shares in the company, valued at approximately $5,314,246. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Kurt D. Barton sold 401 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $232.06, for a total value of $93,056.06. Following the sale, the chief financial officer now owns 25,013 shares in the company, valued at approximately $5,804,516.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kurt D. Barton sold 4,335 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $257.00, for a total value of $1,114,095.00. Following the completion of the sale, the chief financial officer now owns 20,678 shares in the company, valued at approximately $5,314,246. The disclosure for this sale can be found here. In the last quarter, insiders have sold 90,090 shares of company stock worth $21,201,877. Corporate insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On Tractor Supply

A number of large investors have recently added to or reduced their stakes in the business. Citizens National Bank Trust Department grew its holdings in Tractor Supply by 0.5% in the 4th quarter. Citizens National Bank Trust Department now owns 9,700 shares of the specialty retailer’s stock valued at $2,086,000 after buying an additional 45 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Tractor Supply by 17.6% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 327 shares of the specialty retailer’s stock valued at $72,000 after buying an additional 49 shares in the last quarter. Wahed Invest LLC grew its holdings in Tractor Supply by 2.8% in the 4th quarter. Wahed Invest LLC now owns 1,783 shares of the specialty retailer’s stock valued at $383,000 after buying an additional 49 shares in the last quarter. Heartland Bank & Trust Co grew its holdings in shares of Tractor Supply by 1.7% during the 3rd quarter. Heartland Bank & Trust Co now owns 3,038 shares of the specialty retailer’s stock worth $617,000 after purchasing an additional 52 shares in the last quarter. Finally, Allen Capital Group LLC grew its holdings in shares of Tractor Supply by 0.6% during the 3rd quarter. Allen Capital Group LLC now owns 8,869 shares of the specialty retailer’s stock worth $1,805,000 after purchasing an additional 53 shares in the last quarter. 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.