Tractor Supply (NASDAQ:TSCO) Price Target Raised to $285.00 at Raymond James

Tractor Supply (NASDAQ:TSCO) had its price target hoisted by Raymond James from $250.00 to $285.00 in a research note published on Friday, Benzinga reports. They currently have an outperform rating on the specialty retailer’s stock.

Other analysts have also recently issued research reports about the stock. Wells Fargo & Company boosted their target price on shares of Tractor Supply from $250.00 to $285.00 and gave the stock an overweight rating in a research note on Monday, March 25th. Morgan Stanley increased their target price on Tractor Supply from $195.00 to $235.00 and gave the company an underweight rating in a report on Friday. Evercore ISI lifted their price target on Tractor Supply from $275.00 to $280.00 and gave the stock an outperform rating in a research note on Friday. The Goldman Sachs Group boosted their price target on Tractor Supply from $230.00 to $262.00 and gave the stock a buy rating in a research report on Friday, February 2nd. Finally, Guggenheim lifted their target price on shares of Tractor Supply from $210.00 to $255.00 and gave the stock a buy rating in a research note on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $248.17.

Tractor Supply Price Performance

NASDAQ:TSCO opened at $273.90 on Friday. The company has a quick ratio of 0.28, a current ratio of 1.40 and a debt-to-equity ratio of 0.83. Tractor Supply has a 52 week low of $185.00 and a 52 week high of $274.66. The stock’s 50-day moving average price is $252.44 and its 200-day moving average price is $226.59. The stock has a market capitalization of $29.56 billion, a PE ratio of 26.67, a price-to-earnings-growth ratio of 3.97 and a beta of 0.84.

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

Tractor Supply Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were issued a dividend of $1.10 per share. 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 dividend on an annualized basis and a yield of 1.61%. Tractor Supply’s dividend payout ratio is 42.84%.

Insider Activity at Tractor Supply

In other Tractor Supply news, CFO Kurt D. Barton sold 4,335 shares of the stock in a transaction dated Friday, March 15th. The stock was 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 owns 20,678 shares of the company’s stock, valued at approximately $5,314,246. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Tractor Supply news, CFO Kurt D. Barton sold 4,335 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $5,314,246. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Colin Yankee sold 8,675 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $250.00, for a total transaction of $2,168,750.00. Following the completion of the sale, the executive vice president now owns 9,673 shares in the company, valued at $2,418,250. The disclosure for this sale can be found here. Over the last three months, insiders sold 90,090 shares of company stock worth $21,201,877. Company insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Tractor Supply by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 12,804,873 shares of the specialty retailer’s stock valued at $2,753,432,000 after purchasing an additional 48,439 shares during the last quarter. Capital International Investors raised its stake in Tractor Supply by 7.6% during the 4th quarter. Capital International Investors now owns 6,233,852 shares of the specialty retailer’s stock worth $1,340,589,000 after acquiring an additional 439,954 shares in the last quarter. Capital World Investors raised its stake in Tractor Supply by 10.0% during the 4th quarter. Capital World Investors now owns 5,849,188 shares of the specialty retailer’s stock worth $1,257,751,000 after acquiring an additional 531,170 shares in the last quarter. Wellington Management Group LLP lifted 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 acquiring an additional 1,784,304 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Tractor Supply by 76.7% during the third quarter. Invesco Ltd. now owns 2,024,182 shares of the specialty retailer’s stock worth $411,010,000 after purchasing an additional 878,874 shares during the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

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.