Telsey Advisory Group Boosts Tractor Supply (NASDAQ:TSCO) Price Target to $335.00

Tractor Supply (NASDAQ:TSCO) had its price target lifted by Telsey Advisory Group from $300.00 to $335.00 in a research note published on Thursday, MarketBeat Ratings reports. Telsey Advisory Group currently has an outperform rating on the specialty retailer’s stock.

Several other analysts have also issued reports on the company. Evercore ISI lowered Tractor Supply from an “outperform” rating to an “in-line” rating and set a $300.00 target price for the company. in a research note on Thursday, October 3rd. Wedbush reissued a “neutral” rating and set a $270.00 price objective on shares of Tractor Supply in a research note on Friday, July 26th. Loop Capital upped their price objective on shares of Tractor Supply from $250.00 to $260.00 and gave the company a “hold” rating in a research note on Friday, September 6th. Benchmark reaffirmed a “buy” rating and set a $280.00 price target on shares of Tractor Supply in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. boosted their target price on Tractor Supply from $260.00 to $290.00 and gave the company a “neutral” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Tractor Supply currently has an average rating of “Moderate Buy” and a consensus target price of $272.50.

Tractor Supply Price Performance

Shares of NASDAQ TSCO opened at $297.62 on Thursday. The stock’s 50-day simple moving average is $279.96 and its two-hundred day simple moving average is $272.03. Tractor Supply has a twelve month low of $185.00 and a twelve month high of $307.64. The firm has a market capitalization of $32.09 billion, a P/E ratio of 28.98, a P/E/G ratio of 3.81 and a beta of 0.80. 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 posted its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share 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 for the quarter, compared to analysts’ expectations of $4.28 billion. During the same period in the prior year, the business earned $3.83 earnings per share. Tractor Supply’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, equities analysts anticipate that Tractor Supply will post 10.23 EPS for the current fiscal year.

Tractor Supply Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were paid a $1.10 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.48%. Tractor Supply’s dividend payout ratio is currently 42.84%.

Insider Activity

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

A number of hedge funds have recently bought and sold shares of TSCO. Price T Rowe Associates Inc. MD boosted its holdings in Tractor Supply by 12.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,330,621 shares of the specialty retailer’s stock worth $871,691,000 after purchasing an additional 368,859 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of Tractor Supply by 2,921.4% in 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 during the last quarter. Clearbridge Investments LLC grew its holdings in shares of Tractor Supply by 11,952.8% in the first quarter. Clearbridge Investments LLC now owns 241,177 shares of the specialty retailer’s stock worth $63,121,000 after acquiring an additional 239,176 shares during the period. Employees Retirement System of Texas purchased a new stake in Tractor Supply during the second quarter valued at $38,070,000. Finally, Swedbank AB bought a new position in Tractor Supply in the first quarter valued at about $34,262,000. Hedge funds and other 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.