Tractor Supply (NASDAQ:TSCO) Price Target Raised to $277.00 at Truist Financial

Tractor Supply (NASDAQ:TSCOFree Report) had its target price raised by Truist Financial from $256.00 to $277.00 in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the specialty retailer’s stock.

A number of other analysts also recently weighed in on the company. Bank of America downgraded Tractor Supply from a neutral rating to an underperform rating and cut their target price for the company from $207.00 to $171.00 in a research report on Friday, December 15th. Wells Fargo & Company raised their target price on shares of Tractor Supply from $250.00 to $285.00 and gave the company an overweight rating in a report on Monday, March 25th. Telsey Advisory Group boosted their target price on shares of Tractor Supply from $245.00 to $250.00 and gave the company an outperform rating in a research report on Friday, February 2nd. Stephens lowered shares of Tractor Supply from an overweight rating to an equal weight rating and increased their price target for the stock from $226.00 to $240.00 in a research report on Tuesday, January 23rd. Finally, Guggenheim boosted their price objective 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. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Tractor Supply has an average rating of Hold and an average price target of $239.83.

View Our Latest Stock Report on Tractor Supply

Tractor Supply Stock Down 0.5 %

TSCO opened at $256.89 on Tuesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.28 and a current ratio of 1.50. The stock has a fifty day moving average of $244.88 and a 200-day moving average of $220.86. Tractor Supply has a fifty-two week low of $185.00 and a fifty-two week high of $268.02. The company has a market capitalization of $27.73 billion, a P/E ratio of 25.46, a P/E/G ratio of 3.93 and a beta of 0.84.

Tractor Supply (NASDAQ:TSCOGet Free Report) last issued its quarterly earnings data on Thursday, February 1st. The specialty retailer reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.06. Tractor Supply had a net margin of 7.61% and a return on equity of 53.60%. The business had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.67 billion. During the same quarter in the previous year, the company earned $2.43 EPS. The business’s revenue was down 8.6% on a year-over-year basis. On average, equities analysts expect that Tractor Supply will post 10.19 EPS for the current year.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were paid a dividend of $1.10 per share. The ex-dividend date was Friday, February 23rd. This represents a $4.40 annualized dividend and a dividend yield of 1.71%. This is an increase from Tractor Supply’s previous quarterly dividend of $1.03. Tractor Supply’s dividend payout ratio (DPR) is presently 43.61%.

Insider Transactions at Tractor Supply

In related news, EVP Jonathan S. Estep sold 7,120 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $232.26, for a total value of $1,653,691.20. Following the completion of the sale, the executive vice president now directly owns 13,605 shares in the company, valued at $3,159,897.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Jonathan S. Estep sold 7,120 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $232.26, for a total value of $1,653,691.20. Following the sale, the executive vice president now directly owns 13,605 shares in the company, valued at $3,159,897.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kurt D. Barton sold 4,335 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were 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 directly owns 20,678 shares of the company’s stock, valued at approximately $5,314,246. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,090 shares of company stock worth $21,201,877. Company insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On Tractor Supply

A number of hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its stake in shares of Tractor Supply by 9,370.6% in the 3rd quarter. Wellington Management Group LLP now owns 2,822,151 shares of the specialty retailer’s stock valued at $573,038,000 after buying an additional 2,792,352 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Tractor Supply by 273.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,961,762 shares of the specialty retailer’s stock worth $636,869,000 after acquiring an additional 2,169,088 shares in the last quarter. Norges Bank acquired a new stake in Tractor Supply in the fourth quarter valued at approximately $260,560,000. Alliancebernstein L.P. increased its holdings in shares of Tractor Supply by 84.0% during the fourth quarter. Alliancebernstein L.P. now owns 2,159,008 shares of the specialty retailer’s stock valued at $485,712,000 after acquiring an additional 985,799 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Tractor Supply by 76.7% during the third quarter. Invesco Ltd. now owns 2,024,182 shares of the specialty retailer’s stock worth $411,010,000 after purchasing an additional 878,874 shares during the period. 98.72% of the stock is currently owned by institutional investors.

Tractor Supply Company Profile

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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 d├ęcor products consist of clothing, footwear, toys, snacks, and decorative merchandise.

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Analyst Recommendations for Tractor Supply (NASDAQ:TSCO)

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