Tractor Supply (NASDAQ:TSCO) Given New $270.00 Price Target at TD Cowen

Tractor Supply (NASDAQ:TSCO) had its price target raised by TD Cowen from $250.00 to $270.00 in a report released on Friday, Benzinga reports. They currently have a buy rating on the specialty retailer’s stock.

A number of other research firms have also weighed in on TSCO. Barclays raised their target price on shares of Tractor Supply from $234.00 to $240.00 and gave the company an equal weight rating in a report on Friday. Guggenheim lifted their price target on Tractor Supply from $210.00 to $255.00 and gave the stock a buy rating in a research report on Friday, February 2nd. UBS Group upped their price objective on Tractor Supply from $220.00 to $240.00 and gave the company a neutral rating in a research report on Friday, February 2nd. Morgan Stanley lifted their target price on Tractor Supply from $195.00 to $235.00 and gave the stock an underweight rating in a report on Friday. Finally, Wedbush reissued a neutral rating and set a $235.00 target price on shares of Tractor Supply in a research report on Tuesday. 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $248.17.

Tractor Supply Trading Up 3.3 %

Tractor Supply stock opened at $273.90 on Friday. Tractor Supply has a 52-week low of $185.00 and a 52-week high of $274.66. The company has a market cap of $29.56 billion, a P/E ratio of 26.67, a P/E/G ratio of 3.97 and a beta of 0.84. The company has a quick ratio of 0.28, a current ratio of 1.40 and a debt-to-equity ratio of 0.83. The business has a 50-day simple moving average of $252.44 and a two-hundred day simple moving average of $226.59.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Thursday, April 25th. The specialty retailer reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.13. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. The company had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same period last year, the firm earned $1.65 EPS. Tractor Supply’s revenue for the quarter was up 2.8% compared to the same quarter last year. Analysts predict that Tractor Supply will post 10.23 EPS for the current year.

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were paid a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.61%. 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. Tractor Supply’s payout ratio is 42.84%.

Insiders Place Their Bets

In other news, CFO Kurt D. Barton sold 401 shares of Tractor Supply stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $232.06, for a total value of $93,056.06. Following the transaction, the chief financial officer now owns 25,013 shares of the company’s stock, valued at approximately $5,804,516.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Kurt D. Barton sold 4,335 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was 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 owns 20,678 shares in the company, valued at $5,314,246. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kurt D. Barton sold 401 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $232.06, for a total transaction of $93,056.06. Following the transaction, the chief financial officer now owns 25,013 shares in the company, valued at approximately $5,804,516.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,090 shares of company stock worth $21,201,877. 0.24% of the stock is owned by corporate insiders.

Institutional Trading of Tractor Supply

Large investors have recently bought and sold shares of the stock. Future Financial Wealth Managment LLC acquired a new position in shares of Tractor Supply in the 1st quarter valued at $26,000. Rise Advisors LLC increased its holdings in shares of Tractor Supply by 157.1% in the first quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock valued at $28,000 after purchasing an additional 66 shares during the period. Private Wealth Management Group LLC purchased a new position in shares of Tractor Supply in the fourth quarter worth about $27,000. OFI Invest Asset Management purchased a new stake in Tractor Supply in the third quarter valued at approximately $25,000. Finally, Pinnacle Bancorp Inc. acquired a new position in Tractor Supply in the 4th quarter worth approximately $28,000. Hedge funds and other institutional investors own 98.72% of the company’s stock.

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.