Barclays Increases Tractor Supply (NASDAQ:TSCO) Price Target to $234.00

Tractor Supply (NASDAQ:TSCO) had its target price increased by Barclays from $192.00 to $234.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the specialty retailer’s stock.

A number of other equities analysts have also weighed in on the stock. Guggenheim upped their target price on shares of Tractor Supply from $210.00 to $255.00 and gave the stock a buy rating in a research note on Friday, February 2nd. Truist Financial increased their price objective on shares of Tractor Supply from $256.00 to $277.00 and gave the stock a buy rating in a research note on Tuesday, April 2nd. Evercore ISI reduced their price objective on shares of Tractor Supply from $280.00 to $275.00 and set an outperform rating for the company in a research note on Tuesday. Mizuho began coverage on shares of Tractor Supply in a research note on Tuesday, March 19th. They set a neutral rating and a $245.00 price objective for the company. Finally, Morgan Stanley restated an underweight rating and set a $195.00 price objective on shares of Tractor Supply in a research note on Tuesday, January 16th. 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 stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $240.57.

Tractor Supply Price Performance

Shares of NASDAQ TSCO opened at $247.39 on Wednesday. The firm has a market cap of $26.70 billion, a PE ratio of 24.52, a PEG ratio of 3.68 and a beta of 0.84. The company has a current ratio of 1.50, a quick ratio of 0.28 and a debt-to-equity ratio of 0.82. Tractor Supply has a 1-year low of $185.00 and a 1-year high of $268.02. The company has a fifty day moving average price of $249.23 and a 200 day moving average price of $224.12.

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

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were issued a $1.10 dividend. This is a boost from Tractor Supply’s previous quarterly dividend of $1.03. This represents a $4.40 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend was Friday, February 23rd. Tractor Supply’s dividend payout ratio is currently 43.61%.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, CFO Kurt D. Barton sold 4,335 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 20,678 shares of the company’s stock, valued at approximately $5,314,246. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Tractor Supply news, CEO Harry A. Lawton III sold 20,500 shares of the 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 transaction, the chief executive officer now directly owns 95,192 shares of the company’s stock, valued at approximately $22,173,072.56. The transaction was disclosed in a legal filing 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 dated 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 completion of the transaction, the chief financial officer now directly owns 20,678 shares in the company, valued at $5,314,246. The disclosure for this sale can be found here. Insiders have sold a total of 90,090 shares of company stock valued at $21,201,877 in the last three months. 0.24% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. OFI Invest Asset Management bought a new position in shares of Tractor Supply during the third quarter worth approximately $25,000. Compass Wealth Management LLC acquired a new stake in shares of Tractor Supply during the 4th quarter worth approximately $25,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Tractor Supply during the 1st quarter worth approximately $26,000. Pacific Center for Financial Services acquired a new stake in shares of Tractor Supply during the 1st quarter worth approximately $26,000. Finally, Private Wealth Management Group LLC acquired a new stake in shares of Tractor Supply during the 4th quarter worth approximately $27,000. 98.72% of the stock is owned by institutional investors.

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.