Tractor Supply (NASDAQ:TSCO) Given New $289.00 Price Target at Truist Financial

Tractor Supply (NASDAQ:TSCO) had its target price raised by Truist Financial from $277.00 to $289.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a buy rating on the specialty retailer’s stock.

TSCO has been the topic of several other reports. Benchmark reiterated a buy rating and issued a $256.00 price target on shares of Tractor Supply in a report on Monday, April 22nd. Stephens lowered shares of Tractor Supply from an overweight rating to an equal weight rating and boosted their target price for the company from $226.00 to $240.00 in a research note on Tuesday, January 23rd. Telsey Advisory Group reissued an outperform rating and issued a $275.00 price objective on shares of Tractor Supply in a research report on Thursday. Raymond James lowered shares of 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 upped their target price on Tractor Supply from $220.00 to $240.00 and gave the stock a neutral rating in a report on Friday, February 2nd. 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 stock. According to MarketBeat, Tractor Supply has an average rating of Hold and an average price target of $248.17.

Tractor Supply Stock Up 3.3 %

Shares of TSCO opened at $273.90 on Friday. The company has a quick ratio of 0.28, a current ratio of 1.40 and a debt-to-equity ratio of 0.83. The business has a fifty day moving average of $252.44 and a 200 day moving average of $226.59. The company has a market cap of $29.56 billion, a PE ratio of 26.67, a P/E/G ratio of 3.97 and a beta of 0.84. Tractor Supply has a 52-week low of $185.00 and a 52-week high of $274.66.

Tractor Supply (NASDAQ:TSCO) last released its earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.13. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.40 billion. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The business’s revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the business earned $1.65 EPS. On average, sell-side analysts expect that Tractor Supply will post 10.23 EPS for the current year.

Tractor Supply Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were given a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.61%. The ex-dividend date was Friday, February 23rd. This is a positive change from Tractor Supply’s previous quarterly dividend of $1.03. Tractor Supply’s dividend payout ratio is currently 42.84%.

Insiders Place Their Bets

In related news, CEO Harry A. Lawton III sold 20,500 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $232.93, for a total value of $4,775,065.00. Following the transaction, the chief executive officer now directly owns 95,192 shares of the company’s stock, valued at approximately $22,173,072.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Harry A. Lawton III sold 20,500 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $232.93, for a total value of $4,775,065.00. Following the completion of the sale, the chief executive officer now owns 95,192 shares of the company’s stock, valued at approximately $22,173,072.56. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Robert D. Mills sold 48,334 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $232.23, for a total transaction of $11,224,604.82. Following the completion of the sale, the executive vice president now owns 22,167 shares in the company, valued at $5,147,842.41. The disclosure for this sale can be found here. Over the last quarter, insiders sold 90,090 shares of company stock worth $21,201,877. Company insiders own 0.24% of the company’s stock.

Institutional Trading of Tractor Supply

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. OFI Invest Asset Management acquired a new stake in Tractor Supply during the 3rd quarter worth approximately $25,000. Future Financial Wealth Managment LLC purchased a new position in Tractor Supply in the 1st quarter valued at approximately $26,000. Private Wealth Management Group LLC acquired a new position in Tractor Supply during the fourth quarter worth about $27,000. Pinnacle Bancorp Inc. purchased a new stake in shares of Tractor Supply in the fourth quarter valued at $28,000. Finally, Rise Advisors LLC boosted its stake in shares of Tractor Supply by 157.1% during the 1st quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock worth $28,000 after purchasing an additional 66 shares during the last quarter. Institutional investors and hedge funds 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.