Tractor Supply (NASDAQ:TSCO) Hits New 1-Year High Following Analyst Upgrade

Tractor Supply (NASDAQ:TSCO) shares hit a new 52-week high during trading on Monday after Truist Financial raised their price target on the stock from $293.00 to $325.00. Truist Financial currently has a buy rating on the stock. Tractor Supply traded as high as $306.38 and last traded at $304.30, with a volume of 193943 shares traded. The stock had previously closed at $303.37.

Several other research analysts also recently commented on the stock. Citigroup upgraded shares of Tractor Supply from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. UBS Group upgraded shares of Tractor Supply from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Telsey Advisory Group restated an “outperform” rating and set a $305.00 price objective on shares of Tractor Supply in a report on Thursday, July 25th. Piper Sandler boosted their price objective on shares of Tractor Supply from $300.00 to $332.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Melius Research began coverage on shares of Tractor Supply in a report on Monday, September 23rd. They set a “buy” rating and a $315.00 price objective on the stock. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Tractor Supply currently has a consensus rating of “Moderate Buy” and a consensus price target of $268.32.

Insider Buying and Selling at Tractor Supply

In other news, CFO Kurt D. Barton sold 23,532 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were 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 directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Matthew L. Rubin sold 540 shares of the company’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 transaction of $141,669.00. Following the transaction, the senior vice president now directly owns 5,170 shares in the company, valued at approximately $1,356,349.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kurt D. Barton sold 23,532 shares of the company’s stock in a transaction that occurred 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 $2,862,682.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On Tractor Supply

Institutional investors and hedge funds have recently modified their holdings of the business. Future Financial Wealth Managment LLC bought a new stake in shares of Tractor Supply during the first quarter worth approximately $26,000. Rise Advisors LLC raised its stake in shares of Tractor Supply by 157.1% during the first quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock worth $28,000 after buying an additional 66 shares during the last quarter. LRI Investments LLC bought a new stake in shares of Tractor Supply during the first quarter worth approximately $28,000. J.Safra Asset Management Corp raised its stake in shares of Tractor Supply by 700.0% during the first quarter. J.Safra Asset Management Corp now owns 112 shares of the specialty retailer’s stock worth $29,000 after buying an additional 98 shares during the last quarter. Finally, Whittier Trust Co. raised its stake in shares of Tractor Supply by 60.9% during the second quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock worth $30,000 after buying an additional 42 shares during the last quarter. 98.72% of the stock is owned by institutional investors.

Tractor Supply Stock Performance

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 firm has a market capitalization of $32.75 billion, a P/E ratio of 29.58, a P/E/G ratio of 3.73 and a beta of 0.80. The stock’s 50 day moving average is $276.64 and its two-hundred day moving average is $270.97.

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

Tractor Supply Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were paid a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.45%. The ex-dividend date was Monday, August 26th. Tractor Supply’s payout ratio is presently 42.84%.

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.