TD Cowen Raises Tractor Supply (NASDAQ:TSCO) Price Target to $270.00

Tractor Supply (NASDAQ:TSCO) had its target price lifted by TD Cowen from $250.00 to $270.00 in a report issued on Friday morning, Benzinga reports. The firm currently has a buy rating on the specialty retailer’s stock.

TSCO has been the subject of several other research reports. The Goldman Sachs Group lifted their price objective on Tractor Supply from $230.00 to $262.00 and gave the company a buy rating in a research report on Friday, February 2nd. Guggenheim upped their price target on shares of Tractor Supply from $210.00 to $255.00 and gave the stock a buy rating in a research report on Friday, February 2nd. Mizuho restated a neutral rating and issued a $250.00 price objective (up previously from $245.00) on shares of Tractor Supply in a research report on Friday. Raymond James lowered shares of Tractor Supply from a strong-buy rating to an outperform rating and upped their target price for the stock from $230.00 to $250.00 in a research report on Friday, February 2nd. Finally, Benchmark reissued a buy rating and issued a $256.00 price target on shares of Tractor Supply in a report on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Tractor Supply has an average rating of Hold and an average price target of $248.17.

Tractor Supply Stock Up 3.3 %

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

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.13. The firm had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.40 billion. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the firm posted $1.65 EPS. As a group, equities research analysts expect that Tractor Supply will post 10.23 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

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

Insider Activity at Tractor Supply

In other Tractor Supply news, EVP Robert D. Mills sold 48,334 shares of Tractor Supply stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $232.23, for a total transaction of $11,224,604.82. Following the transaction, the executive vice president now directly owns 22,167 shares in the company, valued at $5,147,842.41. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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, EVP Robert D. Mills sold 48,334 shares of the business’s stock in a transaction on 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 directly owns 22,167 shares in the company, valued at $5,147,842.41. The disclosure for this sale can be found here. Insiders sold a total of 90,090 shares of company stock worth $21,201,877 in the last quarter. Corporate insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On Tractor Supply

Large investors have recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC acquired a new position in shares of Tractor Supply during the first quarter worth about $26,000. Rise Advisors LLC lifted its stake in Tractor Supply by 157.1% in the 1st quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock valued at $28,000 after acquiring an additional 66 shares in the last quarter. Private Wealth Management Group LLC bought a new stake in Tractor Supply in the 4th quarter valued at approximately $27,000. OFI Invest Asset Management bought a new position in shares of Tractor Supply during the 3rd quarter worth approximately $25,000. Finally, Pinnacle Bancorp Inc. bought a new position in shares of Tractor Supply during the 4th quarter worth approximately $28,000. Institutional investors own 98.72% of the company’s stock.

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.