Tractor Supply (NASDAQ:TSCO) Given New $280.00 Price Target at Evercore ISI

Tractor Supply (NASDAQ:TSCO) had its target price increased by Evercore ISI from $275.00 to $280.00 in a report issued on Friday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the specialty retailer’s stock.

Several other research firms have also recently weighed in on TSCO. Wedbush reissued a neutral rating and issued a $235.00 price target on shares of Tractor Supply in a report on Tuesday. Stephens lowered Tractor Supply from an overweight rating to an equal weight rating and upped their price objective for the company from $226.00 to $240.00 in a report on Tuesday, January 23rd. Mizuho reiterated a neutral rating and set a $250.00 price objective (up previously from $245.00) on shares of Tractor Supply in a research report on Friday. Guggenheim boosted their target price on shares of Tractor Supply from $210.00 to $255.00 and gave the company a buy rating in a research report on Friday, February 2nd. Finally, Telsey Advisory Group reaffirmed an outperform rating and set a $275.00 price target on shares of Tractor Supply in a research report on Thursday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $248.17.

Tractor Supply Stock Up 3.3 %

Shares of TSCO stock opened at $273.90 on Friday. Tractor Supply has a 52-week low of $185.00 and a 52-week high of $274.66. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.28 and a current ratio of 1.40. The stock has a market cap of $29.56 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 3.97 and a beta of 0.84. The firm’s 50-day moving average is $252.44 and its 200-day moving average is $226.59.

Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Thursday, April 25th. The specialty retailer reported $1.83 EPS for the quarter, topping the consensus estimate of $1.70 by $0.13. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. The company had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same period in the previous year, the company posted $1.65 EPS. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. Sell-side analysts predict that Tractor Supply will post 10.23 EPS for the current year.

Tractor Supply Increases Dividend

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

Insider Buying and Selling

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

Institutional Trading of Tractor Supply

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC increased its position in shares of Tractor Supply by 160.5% during the third quarter. Exchange Traded Concepts LLC now owns 2,373 shares of the specialty retailer’s stock worth $482,000 after buying an additional 1,462 shares during the period. Private Trust Co. NA boosted its position in Tractor Supply by 10.0% during the third quarter. Private Trust Co. NA now owns 734 shares of the specialty retailer’s stock valued at $149,000 after acquiring an additional 67 shares during the last quarter. Koshinski Asset Management Inc. grew its holdings in Tractor Supply by 4.7% during the 3rd quarter. Koshinski Asset Management Inc. now owns 1,993 shares of the specialty retailer’s stock worth $405,000 after acquiring an additional 89 shares during the period. Czech National Bank raised its position in shares of Tractor Supply by 46.7% in the 3rd quarter. Czech National Bank now owns 19,027 shares of the specialty retailer’s stock worth $3,863,000 after acquiring an additional 6,056 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its stake in shares of Tractor Supply by 0.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 47,497 shares of the specialty retailer’s stock valued at $9,644,000 after purchasing an additional 290 shares during the period. Institutional investors and hedge funds 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.