Tractor Supply (NASDAQ:TSCO) Given New $285.00 Price Target at Wells Fargo & Company

Tractor Supply (NASDAQ:TSCO) had its price target hoisted by Wells Fargo & Company from $250.00 to $285.00 in a research note published on Monday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the specialty retailer’s stock.

Other research analysts have also recently issued reports about the company. Morgan Stanley reissued an underweight rating and issued a $195.00 target price on shares of Tractor Supply in a research report on Tuesday, January 16th. Stephens cut Tractor Supply from an overweight rating to an equal weight rating and raised their target price for the stock from $226.00 to $240.00 in a research report on Tuesday, January 23rd. Telsey Advisory Group raised their target price on Tractor Supply from $245.00 to $250.00 and gave the stock an outperform rating in a research report on Friday, February 2nd. Raymond James cut Tractor Supply from a strong-buy rating to an outperform rating and raised their target price for the stock from $230.00 to $250.00 in a research report on Friday, February 2nd. Finally, UBS Group raised their target price on Tractor Supply from $220.00 to $240.00 and gave the stock a neutral rating in a research report on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $238.91.

Tractor Supply Price Performance

NASDAQ TSCO opened at $261.72 on Monday. Tractor Supply has a one year low of $185.00 and a one year high of $268.02. The stock has a 50-day moving average of $243.18 and a 200 day moving average of $219.89. The company has a market capitalization of $28.24 billion, a price-to-earnings ratio of 25.94, a PEG ratio of 3.88 and a beta of 0.84. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.28 and a current ratio of 1.50.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, February 1st. The specialty retailer reported $2.28 EPS for the quarter, topping the consensus estimate of $2.22 by $0.06. Tractor Supply had a return on equity of 53.60% and a net margin of 7.61%. The company had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.67 billion. During the same period last year, the company earned $2.43 EPS. Tractor Supply’s revenue for the quarter was down 8.6% on a year-over-year basis. On average, sell-side analysts forecast that Tractor Supply will post 10.19 EPS for the current year.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were issued a $1.10 dividend. The ex-dividend date was Friday, February 23rd. This is a boost from Tractor Supply’s previous quarterly dividend of $1.03. This represents a $4.40 dividend on an annualized basis and a yield of 1.68%. Tractor Supply’s payout ratio is currently 43.61%.

Insider Buying and Selling

In related news, CFO Kurt D. Barton sold 4,335 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was 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 the SEC website. In other Tractor Supply news, EVP Colin Yankee sold 8,675 shares of Tractor Supply 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 sale, the executive vice president now owns 9,673 shares of the company’s stock, valued at approximately $2,418,250. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 value of $1,114,095.00. Following the completion of the sale, the chief financial officer now directly owns 20,678 shares in the company, valued at approximately $5,314,246. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,090 shares of company stock valued at $21,201,877. Corporate insiders own 0.24% of the company’s stock.

Institutional Trading of Tractor Supply

Large investors have recently added to or reduced their stakes in the company. LPL Financial LLC increased its stake in Tractor Supply by 4.6% in the 3rd quarter. LPL Financial LLC now owns 113,873 shares of the specialty retailer’s stock worth $23,122,000 after acquiring an additional 5,014 shares during the last quarter. ST Germain D J Co. Inc. bought a new position in shares of Tractor Supply during the 2nd quarter valued at approximately $29,000. Simon Quick Advisors LLC increased its position in shares of Tractor Supply by 21.1% during the 3rd quarter. Simon Quick Advisors LLC now owns 1,551 shares of the specialty retailer’s stock valued at $315,000 after purchasing an additional 270 shares during the last quarter. State Street Corp increased its position in shares of Tractor Supply by 2.4% during the 2nd quarter. State Street Corp now owns 4,568,376 shares of the specialty retailer’s stock valued at $1,010,068,000 after purchasing an additional 108,622 shares during the last quarter. Finally, Natixis Advisors L.P. increased its position in shares of Tractor Supply by 8.7% during the 3rd quarter. Natixis Advisors L.P. now owns 55,947 shares of the specialty retailer’s stock valued at $11,360,000 after purchasing an additional 4,469 shares during the last quarter. Institutional investors own 98.72% of the company’s stock.

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.