Tractor Supply (NASDAQ:TSCO) Price Target Increased to $235.00 by Analysts at Morgan Stanley

Tractor Supply (NASDAQ:TSCO) had its target price increased by Morgan Stanley from $195.00 to $235.00 in a report published on Friday morning, Benzinga reports. Morgan Stanley currently has an underweight rating on the specialty retailer’s stock.

A number of other research analysts also recently issued reports on TSCO. Wedbush reiterated a neutral rating and set a $235.00 target price on shares of Tractor Supply in a research report on Tuesday. Stephens lowered shares of Tractor Supply from an overweight rating to an equal weight rating and upped their price objective for the company from $226.00 to $240.00 in a report on Tuesday, January 23rd. Robert W. Baird raised their target price on Tractor Supply from $260.00 to $285.00 and gave the company an outperform rating in a research note on Friday. Telsey Advisory Group reaffirmed an outperform rating and set a $275.00 price target on shares of Tractor Supply in a research note on Thursday. Finally, Truist Financial raised their price objective on Tractor Supply from $277.00 to $289.00 and gave the company a buy rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Tractor Supply currently has a consensus rating of Hold and an average price target of $248.17.

Tractor Supply Stock Up 3.3 %

NASDAQ:TSCO opened at $273.90 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.40 and a quick ratio of 0.28. Tractor Supply has a one year low of $185.00 and a one year high of $274.66. The company has a market cap of $29.56 billion, a PE ratio of 26.67, a P/E/G ratio of 3.97 and a beta of 0.84. The firm’s 50 day simple moving average is $252.44 and its 200 day simple moving average is $226.59.

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, topping the consensus estimate of $1.70 by $0.13. The business had revenue of $3.39 billion during 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%. Tractor Supply’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the company earned $1.65 EPS. On average, research analysts anticipate that Tractor Supply will post 10.23 earnings per share for the current year.

Tractor Supply Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were given a $1.10 dividend. The ex-dividend date was Friday, February 23rd. This represents a $4.40 annualized dividend and a yield of 1.61%. This is a boost from Tractor Supply’s previous quarterly dividend of $1.03. Tractor Supply’s payout ratio is currently 42.84%.

Insider Buying and Selling at Tractor Supply

In other news, CEO Harry A. Lawton III sold 20,500 shares of Tractor Supply 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 directly owns 95,192 shares in the company, valued at approximately $22,173,072.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Tractor Supply news, CFO Kurt D. Barton sold 4,335 shares of the stock in a transaction on 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 completion of the transaction, the chief financial officer now directly owns 20,678 shares of the company’s stock, valued at $5,314,246. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Harry A. Lawton III sold 20,500 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $232.93, for a total value of $4,775,065.00. Following the completion of 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. Insiders sold 90,090 shares of company stock worth $21,201,877 in the last quarter. 0.24% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. WCM Investment Management LLC purchased a new position in shares of Tractor Supply in the fourth quarter worth about $782,000. LPL Financial LLC grew its stake in Tractor Supply by 4.6% in the 3rd quarter. LPL Financial LLC now owns 113,873 shares of the specialty retailer’s stock valued at $23,122,000 after buying an additional 5,014 shares in the last quarter. Impax Asset Management Group plc raised its holdings in Tractor Supply by 2,120.1% during the 4th quarter. Impax Asset Management Group plc now owns 121,817 shares of the specialty retailer’s stock valued at $26,194,000 after acquiring an additional 116,330 shares during the period. Simon Quick Advisors LLC lifted its position in shares of Tractor Supply by 21.1% during the third quarter. Simon Quick Advisors LLC now owns 1,551 shares of the specialty retailer’s stock worth $315,000 after acquiring an additional 270 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Tractor Supply by 32,987.5% in the fourth quarter. International Assets Investment Management LLC now owns 270,325 shares of the specialty retailer’s stock worth $58,128,000 after acquiring an additional 269,508 shares during the period. 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.