Telsey Advisory Group Raises Tractor Supply (NASDAQ:TSCO) Price Target to $305.00

Tractor Supply (NASDAQ:TSCO) had its price objective hoisted by Telsey Advisory Group from $280.00 to $305.00 in a research report released on Wednesday, MarketBeat Ratings reports. Telsey Advisory Group currently has an outperform rating on the specialty retailer’s stock. Telsey Advisory Group also issued estimates for Tractor Supply’s Q2 2024 earnings at $3.93 EPS, Q3 2024 earnings at $2.25 EPS, Q4 2024 earnings at $2.39 EPS, FY2024 earnings at $10.40 EPS, Q1 2025 earnings at $1.99 EPS, Q2 2025 earnings at $4.33 EPS, Q3 2025 earnings at $2.49 EPS and FY2025 earnings at $11.43 EPS.

Several other equities research analysts also recently issued reports on TSCO. Mizuho reaffirmed a neutral rating and set a $250.00 price target (up previously from $245.00) on shares of Tractor Supply in a report on Friday, April 26th. The Goldman Sachs Group increased their target price on shares of Tractor Supply from $230.00 to $262.00 and gave the stock a buy rating in a report on Friday, February 2nd. Morgan Stanley raised their price objective on Tractor Supply from $195.00 to $235.00 and gave the company an underweight rating in a report on Friday, April 26th. Wells Fargo & Company lifted their price target on Tractor Supply from $250.00 to $285.00 and gave the company an overweight rating in a research note on Monday, March 25th. Finally, Robert W. Baird raised their price objective on shares of Tractor Supply from $260.00 to $285.00 and gave the company an outperform rating in a report on Friday, April 26th. Two equities 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. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $251.25.

Tractor Supply Price Performance

NASDAQ TSCO opened at $271.17 on Wednesday. Tractor Supply has a 12-month low of $185.00 and a 12-month high of $279.38. The firm’s 50 day moving average is $254.00 and its 200-day moving average is $227.98. The company has a market capitalization of $29.27 billion, a PE ratio of 26.40, a price-to-earnings-growth ratio of 3.44 and a beta of 0.82. The company has a quick ratio of 0.19, a current ratio of 1.40 and a debt-to-equity ratio of 0.83.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share for the quarter, beating 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 firm had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same period last year, the company earned $1.65 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year. Equities research analysts anticipate that Tractor Supply will post 10.3 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. 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 represents a $4.40 annualized dividend and a yield of 1.62%. This is a positive change from Tractor Supply’s previous quarterly dividend of $1.03. Tractor Supply’s dividend payout ratio is presently 42.84%.

Insider Activity

In related news, EVP Robert D. Mills sold 48,334 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $232.23, for a total value of $11,224,604.82. Following the transaction, the executive vice president now directly owns 22,167 shares in the company, valued at approximately $5,147,842.41. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Harry A. Lawton III sold 20,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $232.93, for a total value of $4,775,065.00. Following the transaction, the chief executive officer now owns 95,192 shares in the company, valued at $22,173,072.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert D. Mills sold 48,334 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $232.23, for a total value of $11,224,604.82. Following the completion of the sale, the executive vice president now directly owns 22,167 shares of the company’s stock, 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 over the last quarter. 0.24% of the stock is currently owned by corporate insiders.

Institutional Trading of Tractor Supply

Several institutional investors have recently made changes to their positions in TSCO. Commonwealth Equity Services LLC boosted its holdings in shares of Tractor Supply by 6.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 49,532 shares of the specialty retailer’s stock worth $10,058,000 after buying an additional 2,901 shares during the last quarter. Xponance Inc. grew its position in shares of Tractor Supply by 1.2% during the 3rd quarter. Xponance Inc. now owns 25,985 shares of the specialty retailer’s stock valued at $5,276,000 after acquiring an additional 315 shares during the period. Raymond James & Associates increased its stake in shares of Tractor Supply by 1.0% during the 3rd quarter. Raymond James & Associates now owns 610,372 shares of the specialty retailer’s stock worth $123,936,000 after purchasing an additional 6,190 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Tractor Supply by 6.8% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 200,444 shares of the specialty retailer’s stock worth $40,700,000 after purchasing an additional 12,787 shares during the period. Finally, Simon Quick Advisors LLC lifted its stake in Tractor Supply by 21.1% in the third quarter. Simon Quick Advisors LLC now owns 1,551 shares of the specialty retailer’s stock valued at $315,000 after purchasing an additional 270 shares during the last quarter. 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.