Tractor Supply (NASDAQ:TSCO) Given New $234.00 Price Target at Barclays

Tractor Supply (NASDAQ:TSCO) had its target price boosted by Barclays from $192.00 to $234.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the specialty retailer’s stock.

TSCO has been the topic of several other reports. Stephens cut shares of Tractor Supply from an overweight rating to an equal weight rating and upped their price objective for the stock from $226.00 to $240.00 in a research note on Tuesday, January 23rd. Wedbush increased their price target on shares of Tractor Supply from $200.00 to $235.00 and gave the company a neutral rating in a research note on Friday, February 2nd. Benchmark reissued a buy rating and set a $256.00 price target on shares of Tractor Supply in a research note on Wednesday, April 3rd. Guggenheim increased their price target on shares of Tractor Supply from $210.00 to $255.00 and gave the company a buy rating in a research note on Friday, February 2nd. Finally, Morgan Stanley reissued an underweight rating and set a $195.00 price target on shares of Tractor Supply in a research note on Tuesday, January 16th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Hold and an average target price of $241.65.

Tractor Supply Stock Performance

NASDAQ:TSCO opened at $252.79 on Wednesday. Tractor Supply has a 12-month low of $185.00 and a 12-month high of $268.02. The company has a quick ratio of 0.28, a current ratio of 1.50 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $27.28 billion, a PE ratio of 25.05, a price-to-earnings-growth ratio of 3.72 and a beta of 0.84. The firm has a 50-day moving average price of $249.89 and a 200 day moving average price of $224.62.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings results on Thursday, February 1st. The specialty retailer reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.06. Tractor Supply had a net margin of 7.61% and a return on equity of 53.60%. The firm had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.67 billion. During the same quarter in the prior year, the business posted $2.43 earnings per share. The company’s quarterly revenue was down 8.6% compared to the same quarter last year. Research analysts anticipate that Tractor Supply will post 10.19 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were issued a $1.10 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This is a positive change from Tractor Supply’s previous quarterly dividend of $1.03. This represents a $4.40 annualized dividend and a yield of 1.74%. Tractor Supply’s dividend payout ratio (DPR) is 43.61%.

Insiders Place Their Bets

In other Tractor Supply news, CFO Kurt D. Barton sold 4,335 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $257.00, for a total value of $1,114,095.00. Following the sale, the chief financial officer now directly owns 20,678 shares in the company, valued at $5,314,246. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Kurt D. Barton sold 4,335 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the sale, the chief financial officer now directly owns 20,678 shares in the company, valued at $5,314,246. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Harry A. Lawton III sold 20,500 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $232.93, for a total transaction of $4,775,065.00. Following the sale, the chief executive officer now owns 95,192 shares in the company, valued at $22,173,072.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,090 shares of company stock worth $21,201,877. Company insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On Tractor Supply

A number of hedge funds and other institutional investors have recently made changes to their positions in TSCO. Vanguard Group Inc. grew its position in Tractor Supply by 0.4% in the first quarter. Vanguard Group Inc. now owns 12,833,541 shares of the specialty retailer’s stock valued at $2,994,964,000 after purchasing an additional 46,672 shares in the last quarter. Capital International Investors grew its position in Tractor Supply by 7.6% in the fourth quarter. Capital International Investors now owns 6,233,852 shares of the specialty retailer’s stock valued at $1,340,589,000 after purchasing an additional 439,954 shares in the last quarter. Capital World Investors grew its position in Tractor Supply by 10.0% in the fourth quarter. Capital World Investors now owns 5,849,188 shares of the specialty retailer’s stock valued at $1,257,751,000 after purchasing an additional 531,170 shares in the last quarter. Wellington Management Group LLP grew its position in Tractor Supply by 63.2% in the fourth quarter. Wellington Management Group LLP now owns 4,606,455 shares of the specialty retailer’s stock valued at $990,526,000 after purchasing an additional 1,784,304 shares in the last quarter. Finally, State Street Corp grew its position in Tractor Supply by 0.8% in the first quarter. State Street Corp now owns 4,459,754 shares of the specialty retailer’s stock valued at $1,048,209,000 after purchasing an additional 34,281 shares in the last quarter. 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.