Tractor Supply (NASDAQ:TSCO) Price Target Raised to $290.00

Tractor Supply (NASDAQ:TSCO) had its target price hoisted by JPMorgan Chase & Co. from $260.00 to $290.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the specialty retailer’s stock.

Other analysts have also recently issued reports about the company. Truist Financial boosted their price target on Tractor Supply from $293.00 to $325.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Piper Sandler lifted their target price on shares of Tractor Supply from $300.00 to $332.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Evercore ISI cut shares of Tractor Supply from an “outperform” rating to an “in-line” rating and set a $300.00 price target for the company. in a research report on Thursday, October 3rd. UBS Group upgraded shares of Tractor Supply from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $305.00 price objective on shares of Tractor Supply in a research note on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Tractor Supply has a consensus rating of “Moderate Buy” and a consensus target price of $272.50.

Tractor Supply Price Performance

TSCO stock opened at $297.62 on Wednesday. The stock has a market cap of $32.09 billion, a price-to-earnings ratio of 28.98, a P/E/G ratio of 3.81 and a beta of 0.80. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.43 and a quick ratio of 0.25. The company has a 50 day simple moving average of $279.96 and a 200 day simple moving average of $271.93. Tractor Supply has a 1 year low of $185.00 and a 1 year high of $307.64.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $3.93. Tractor Supply had a net margin of 7.65% and a return on equity of 51.84%. The company had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same period in the prior year, the business earned $3.83 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. Research analysts anticipate that Tractor Supply will post 10.23 EPS for the current fiscal year.

Tractor Supply Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date was Monday, August 26th. Tractor Supply’s dividend payout ratio (DPR) is currently 42.84%.

Insiders Place Their Bets

In other news, SVP Matthew L. Rubin sold 540 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $262.35, for a total transaction of $141,669.00. Following the completion of the sale, the senior vice president now owns 5,170 shares in the company, valued at $1,356,349.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, SVP Matthew L. Rubin sold 540 shares of Tractor Supply stock in a transaction on Monday, August 12th. The shares were sold at an average price of $262.35, for a total value of $141,669.00. Following the completion of the sale, the senior vice president now owns 5,170 shares of the company’s stock, valued at approximately $1,356,349.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kurt D. Barton sold 23,532 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total transaction of $6,957,000.48. Following the transaction, the chief financial officer now owns 9,683 shares in the company, valued at approximately $2,862,682.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On Tractor Supply

Hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its holdings in Tractor Supply by 12.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,330,621 shares of the specialty retailer’s stock worth $871,691,000 after acquiring an additional 368,859 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Tractor Supply by 2,921.4% during the 2nd quarter. Marshall Wace LLP now owns 357,225 shares of the specialty retailer’s stock worth $96,451,000 after buying an additional 345,402 shares in the last quarter. Clearbridge Investments LLC boosted its stake in shares of Tractor Supply by 11,952.8% in the 1st quarter. Clearbridge Investments LLC now owns 241,177 shares of the specialty retailer’s stock worth $63,121,000 after buying an additional 239,176 shares during the last quarter. Employees Retirement System of Texas bought a new position in shares of Tractor Supply in the second quarter valued at approximately $38,070,000. Finally, Swedbank AB bought a new position in shares of Tractor Supply in the first quarter valued at approximately $34,262,000. Institutional investors and hedge funds 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.