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

Tractor Supply (NASDAQ:TSCO) had its price objective hoisted by Barclays from $192.00 to $234.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the specialty retailer’s stock.

Other equities analysts also recently issued reports about the company. Telsey Advisory Group lifted their price target on Tractor Supply from $245.00 to $250.00 and gave the stock an outperform rating in a research note on Friday, February 2nd. Morgan Stanley reiterated an underweight rating and issued a $195.00 price target on shares of Tractor Supply in a research note on Tuesday, January 16th. UBS Group lifted their price target on Tractor Supply from $220.00 to $240.00 and gave the stock a neutral rating in a research note on Friday, February 2nd. Stephens downgraded Tractor Supply from an overweight rating to an equal weight rating and lifted their price target for the stock from $226.00 to $240.00 in a research note on Tuesday, January 23rd. Finally, Benchmark restated a buy rating and issued a $256.00 target price on shares of Tractor Supply in a research note on Wednesday, April 3rd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $241.65.

Tractor Supply Stock Performance

NASDAQ:TSCO opened at $252.79 on Wednesday. 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 firm has a market capitalization of $27.28 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 3.72 and a beta of 0.84. The firm’s fifty day simple moving average is $249.89 and its 200 day simple moving average is $224.62. Tractor Supply has a twelve month low of $185.00 and a twelve month high of $268.02.

Tractor Supply (NASDAQ:TSCO) last posted its earnings results on Thursday, February 1st. The specialty retailer reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.06. The business had revenue of $3.66 billion for 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 business’s quarterly revenue was down 8.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.43 EPS. As a group, equities research analysts expect that Tractor Supply will post 10.19 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were issued a dividend of $1.10 per share. This is a boost from Tractor Supply’s previous quarterly dividend of $1.03. The ex-dividend date was Friday, February 23rd. This represents a $4.40 annualized dividend and a yield of 1.74%. Tractor Supply’s payout ratio is presently 43.61%.

Insider Buying and Selling

In related news, CEO Harry A. Lawton III sold 20,500 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $232.93, for a total transaction of $4,775,065.00. Following the sale, the chief executive officer now owns 95,192 shares of the company’s stock, valued at $22,173,072.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Harry A. Lawton III sold 20,500 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $232.93, for a total transaction of $4,775,065.00. Following the sale, the chief executive officer now owns 95,192 shares of the company’s stock, valued at $22,173,072.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kurt D. Barton sold 401 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $232.06, for a total value of $93,056.06. Following the sale, the chief financial officer now directly 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 valued at $21,201,877 over the last quarter. Corporate insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Compass Wealth Management LLC bought a new position in shares of Tractor Supply in the fourth quarter valued at $25,000. OFI Invest Asset Management bought a new position in shares of Tractor Supply in the third quarter valued at $25,000. Pacific Center for Financial Services bought a new position in shares of Tractor Supply in the first quarter valued at $26,000. Future Financial Wealth Managment LLC bought a new position in shares of Tractor Supply in the first quarter valued at $26,000. Finally, Private Wealth Management Group LLC bought a new position in shares of Tractor Supply in the fourth quarter valued at $27,000. Institutional investors 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.