Tractor Supply (NASDAQ:TSCO) PT Lowered to $280.00

Tractor Supply (NASDAQ:TSCO) had its target price cut by Evercore ISI from $290.00 to $280.00 in a report issued on Friday morning, Benzinga reports. They currently have an outperform rating on the specialty retailer’s stock.

Several other research firms also recently commented on TSCO. Barclays boosted their target price on shares of Tractor Supply from $234.00 to $240.00 and gave the stock an equal weight rating in a report on Friday, April 26th. Wells Fargo & Company boosted their target price on Tractor Supply from $285.00 to $295.00 and gave the stock an overweight rating in a research report on Monday, July 22nd. TD Cowen raised their price target on Tractor Supply from $250.00 to $270.00 and gave the company a buy rating in a report on Friday, April 26th. Morgan Stanley boosted their price target on shares of Tractor Supply from $195.00 to $235.00 and gave the stock an underweight rating in a research report on Friday, April 26th. Finally, Truist Financial raised their price target on Tractor Supply from $289.00 to $293.00 and gave the stock a buy rating in a research report on Friday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $256.58.

Tractor Supply Stock Up 1.0 %

Shares of NASDAQ:TSCO opened at $265.08 on Friday. The stock has a market cap of $28.58 billion, a price-to-earnings ratio of 25.81, a PEG ratio of 3.43 and a beta of 0.81. The business’s 50 day moving average is $273.11 and its 200 day moving average is $258.06. Tractor Supply has a 12-month low of $185.00 and a 12-month high of $290.38. The company has a quick ratio of 0.25, a current ratio of 1.43 and a debt-to-equity ratio of 0.76.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $3.93 EPS for the quarter, hitting the consensus estimate of $3.93. The company had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.28 billion. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. Tractor Supply’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.83 earnings per share. On average, sell-side analysts forecast that Tractor Supply will post 10.29 earnings per share for the current fiscal year.

Tractor Supply Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 28th were given a $1.10 dividend. The ex-dividend date was Friday, May 24th. This represents a $4.40 annualized dividend and a yield of 1.66%. Tractor Supply’s dividend payout ratio is presently 42.84%.

Institutional Investors Weigh In On Tractor Supply

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. lifted its holdings in shares of Tractor Supply by 2.2% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 8,189 shares of the specialty retailer’s stock valued at $2,212,000 after buying an additional 176 shares during the period. Principal Financial Group Inc. boosted its holdings in Tractor Supply by 5.6% in the 2nd quarter. Principal Financial Group Inc. now owns 368,161 shares of the specialty retailer’s stock worth $99,403,000 after acquiring an additional 19,393 shares during the period. TrueMark Investments LLC purchased a new position in Tractor Supply in the 2nd quarter valued at about $386,000. Liberty Capital Management Inc. lifted its stake in shares of Tractor Supply by 5.2% in the second quarter. Liberty Capital Management Inc. now owns 10,308 shares of the specialty retailer’s stock worth $2,783,000 after acquiring an additional 512 shares in the last quarter. Finally, Whittier Trust Co. increased its holdings in Tractor Supply by 60.9% during the 2nd quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock worth $30,000 after purchasing an additional 42 shares during the last quarter. Hedge funds and other 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.