Telsey Advisory Group Boosts Tractor Supply (NASDAQ:TSCO) Price Target to $305.00

Tractor Supply (NASDAQ:TSCO) had its target price lifted by Telsey Advisory Group from $280.00 to $305.00 in a research note released on Wednesday, MarketBeat.com reports. They currently have an outperform rating on the specialty retailer’s stock. Telsey Advisory Group also issued estimates for Tractor Supply’s Q2 2024 earnings at $3.93 EPS, Q3 2024 earnings at $2.25 EPS, Q4 2024 earnings at $2.39 EPS, FY2024 earnings at $10.40 EPS, Q1 2025 earnings at $1.99 EPS, Q2 2025 earnings at $4.33 EPS, Q3 2025 earnings at $2.49 EPS and FY2025 earnings at $11.43 EPS.

A number of other analysts have also issued reports on TSCO. Truist Financial lifted their price objective on shares of Tractor Supply from $277.00 to $289.00 and gave the company a buy rating in a research note on Friday, April 26th. Raymond James lifted their target price on Tractor Supply from $250.00 to $285.00 and gave the stock an outperform rating in a research report on Friday, April 26th. The Goldman Sachs Group boosted their price target on Tractor Supply from $230.00 to $262.00 and gave the stock a buy rating in a research note on Friday, February 2nd. Morgan Stanley raised their price objective on Tractor Supply from $195.00 to $235.00 and gave the company an underweight rating in a research note on Friday, April 26th. Finally, TD Cowen upped their target price on Tractor Supply from $250.00 to $270.00 and gave the company a buy rating in a research report on Friday, April 26th. 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. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $253.54.

Tractor Supply Stock Performance

NASDAQ:TSCO opened at $270.21 on Wednesday. The firm’s fifty day simple moving average is $255.26 and its 200 day simple moving average is $228.55. The company has a current ratio of 1.40, a quick ratio of 0.19 and a debt-to-equity ratio of 0.83. Tractor Supply has a twelve month low of $185.00 and a twelve month high of $279.38. The firm has a market capitalization of $29.16 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 3.42 and a beta of 0.82.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings data on Thursday, April 25th. The specialty retailer reported $1.83 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $3.40 billion. During the same quarter in the previous year, the firm posted $1.65 earnings per share. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, equities research analysts expect that Tractor Supply will post 10.3 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were given a $1.10 dividend. The ex-dividend date was Friday, February 23rd. This is a positive change from Tractor Supply’s previous quarterly dividend of $1.03. This represents a $4.40 annualized dividend and a yield of 1.63%. Tractor Supply’s dividend payout ratio (DPR) is currently 42.84%.

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 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 owns 20,678 shares in the company, valued at $5,314,246. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Kurt D. Barton sold 4,335 shares of Tractor Supply 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 of the company’s stock, valued at $5,314,246. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Colin Yankee sold 8,675 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $250.00, for a total value of $2,168,750.00. Following the completion of the transaction, the executive vice president now directly owns 9,673 shares of the company’s stock, valued at $2,418,250. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,090 shares of company stock worth $21,201,877. 0.24% of the stock is owned by insiders.

Institutional Investors Weigh In On Tractor Supply

Hedge funds and other institutional investors have recently modified their holdings of the stock. 9258 Wealth Management LLC acquired a new position in Tractor Supply during the 1st quarter valued at about $239,000. Bancreek Capital Management LP increased its stake in shares of Tractor Supply by 1.4% during the first quarter. Bancreek Capital Management LP now owns 27,656 shares of the specialty retailer’s stock valued at $7,238,000 after acquiring an additional 378 shares during the period. Avidian Wealth Solutions LLC bought a new stake in Tractor Supply during the first quarter worth approximately $211,000. Mediolanum International Funds Ltd acquired a new stake in Tractor Supply in the first quarter worth approximately $17,995,000. Finally, CapWealth Advisors LLC boosted its stake in Tractor Supply by 14.2% during the 1st quarter. CapWealth Advisors LLC now owns 44,306 shares of the specialty retailer’s stock valued at $11,596,000 after purchasing an additional 5,514 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors.

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.