Barclays Raises Tractor Supply (NASDAQ:TSCO) Price Target to $250.00

Tractor Supply (NASDAQ:TSCO) had its price objective raised by Barclays from $240.00 to $250.00 in a report released on Friday morning, Benzinga reports. Barclays currently has an equal weight rating on the specialty retailer’s stock.

Several other research analysts also recently issued reports on the stock. Evercore ISI downgraded shares of Tractor Supply from an “outperform” rating to an “in-line” rating and set a $300.00 price objective on the stock. in a research report on Thursday, October 3rd. Telsey Advisory Group reissued an “outperform” rating and issued a $335.00 price target on shares of Tractor Supply in a report on Thursday. Piper Sandler raised their price target on Tractor Supply from $300.00 to $332.00 and gave the company an “overweight” rating in a report on Monday, October 14th. UBS Group raised Tractor Supply from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Finally, Wedbush reissued a “neutral” rating and issued a $270.00 price target on shares of Tractor Supply in a report on Friday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $277.70.

Tractor Supply Price Performance

Shares of NASDAQ:TSCO opened at $272.77 on Friday. The company’s fifty day moving average price is $282.24 and its 200 day moving average price is $273.33. Tractor Supply has a 12 month low of $185.00 and a 12 month high of $307.64. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.48 and a quick ratio of 0.17. The firm has a market capitalization of $29.42 billion, a P/E ratio of 26.53, a P/E/G ratio of 3.42 and a beta of 0.80.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, July 25th. The specialty retailer reported $3.93 EPS for the quarter, hitting the consensus estimate of $3.93. Tractor Supply had a net margin of 7.53% and a return on equity of 50.19%. The firm had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same period last year, the business earned $3.83 EPS. Tractor Supply’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, sell-side analysts predict that Tractor Supply will post 10.25 earnings per share for the current fiscal year.

Tractor Supply Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were given a dividend of $1.10 per share. The ex-dividend date was Monday, August 26th. This represents a $4.40 annualized dividend and a yield of 1.61%. Tractor Supply’s dividend payout ratio (DPR) is presently 42.80%.

Insiders Place Their Bets

In other news, CFO Kurt D. Barton sold 23,532 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 9,683 shares of the company’s stock, valued at $2,862,682.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related 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 completion of the transaction, the chief financial officer now owns 9,683 shares of the company’s stock, 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 SEC, which is accessible through this hyperlink. Also, SVP Matthew L. Rubin sold 540 shares of Tractor Supply stock in a transaction 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 completion of the transaction, the senior vice president now owns 5,170 shares in the company, valued at approximately $1,356,349.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.58% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tractor Supply

Several institutional investors and hedge funds have recently added to or reduced their stakes in TSCO. JFS Wealth Advisors LLC raised its holdings in shares of Tractor Supply by 3,249.3% in the 3rd quarter. JFS Wealth Advisors LLC now owns 2,244 shares of the specialty retailer’s stock worth $653,000 after purchasing an additional 2,177 shares during the period. SteelPeak Wealth LLC raised its holdings in shares of Tractor Supply by 14.0% in the 3rd quarter. SteelPeak Wealth LLC now owns 2,927 shares of the specialty retailer’s stock worth $852,000 after purchasing an additional 359 shares during the period. Diversify Wealth Management LLC raised its holdings in shares of Tractor Supply by 14.2% in the 3rd quarter. Diversify Wealth Management LLC now owns 1,976 shares of the specialty retailer’s stock worth $577,000 after purchasing an additional 246 shares during the period. First Trust Direct Indexing L.P. raised its holdings in shares of Tractor Supply by 19.3% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 4,266 shares of the specialty retailer’s stock worth $1,241,000 after purchasing an additional 689 shares during the period. Finally, Valmark Advisers Inc. raised its holdings in shares of Tractor Supply by 31.1% in the 3rd quarter. Valmark Advisers Inc. now owns 2,212 shares of the specialty retailer’s stock worth $644,000 after purchasing an additional 525 shares during the period. 98.72% of the stock is currently owned by institutional investors and hedge funds.

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.