Evercore ISI Cuts Tractor Supply (NASDAQ:TSCO) Price Target to $275.00

Tractor Supply (NASDAQ:TSCO) had its price objective trimmed by Evercore ISI from $280.00 to $275.00 in a research note published on Tuesday, Benzinga reports. The brokerage currently has an outperform rating on the specialty retailer’s stock.

A number of other analysts also recently weighed in on the stock. UBS Group increased their price target on shares of Tractor Supply from $220.00 to $240.00 and gave the company a neutral rating in a report on Friday, February 2nd. Wells Fargo & Company increased their price target 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. Guggenheim increased their price target on shares of Tractor Supply from $210.00 to $255.00 and gave the company a buy rating in a report on Friday, February 2nd. Telsey Advisory Group increased their price target on shares of Tractor Supply from $245.00 to $250.00 and gave the company an outperform rating in a report on Friday, February 2nd. Finally, Mizuho started coverage on shares of Tractor Supply in a report on Tuesday, March 19th. They issued a neutral rating and a $245.00 price target for the company. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $239.61.

Tractor Supply Price Performance

NASDAQ TSCO opened at $244.84 on Tuesday. The company has a current ratio of 1.50, a quick ratio of 0.28 and a debt-to-equity ratio of 0.82. The company has a fifty day simple moving average of $248.95 and a 200 day simple moving average of $223.95. The company has a market cap of $26.43 billion, a P/E ratio of 24.27, a P/E/G ratio of 3.68 and a beta of 0.84. Tractor Supply has a 1 year low of $185.00 and a 1 year high of $268.02.

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

Tractor Supply Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were given a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend was Friday, February 23rd. This is a boost from Tractor Supply’s previous quarterly dividend of $1.03. Tractor Supply’s dividend payout ratio (DPR) is presently 43.61%.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, EVP Robert D. Mills sold 48,334 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $232.23, for a total value of $11,224,604.82. Following the completion of the sale, the executive vice president now owns 22,167 shares in the company, valued at approximately $5,147,842.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Tractor Supply news, CEO Harry A. Lawton III sold 20,500 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $232.93, for a total value of $4,775,065.00. Following the completion of the sale, the chief executive officer now owns 95,192 shares in the company, valued at approximately $22,173,072.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert D. Mills sold 48,334 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $232.23, for a total transaction of $11,224,604.82. Following the completion of the transaction, the executive vice president now directly owns 22,167 shares in the company, valued at approximately $5,147,842.41. The disclosure for this sale can be found here. In the last 90 days, insiders sold 90,090 shares of company stock worth $21,201,877. 0.58% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TSCO. Wellington Management Group LLP boosted 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 purchasing an additional 2,792,352 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Tractor Supply by 273.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,961,762 shares of the specialty retailer’s stock valued at $636,869,000 after purchasing an additional 2,169,088 shares during the last quarter. Norges Bank bought a new position in shares of Tractor Supply in the 4th quarter valued at about $260,560,000. Alliancebernstein L.P. boosted its stake in shares of Tractor Supply by 84.0% in the 4th quarter. Alliancebernstein L.P. now owns 2,159,008 shares of the specialty retailer’s stock valued at $485,712,000 after purchasing an additional 985,799 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Tractor Supply by 76.7% in the 3rd quarter. Invesco Ltd. now owns 2,024,182 shares of the specialty retailer’s stock valued at $411,010,000 after purchasing an additional 878,874 shares during 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.