Tractor Supply (NASDAQ:TSCO) Price Target Raised to $280.00 at UBS Group

Tractor Supply (NASDAQ:TSCO) had its target price boosted by UBS Group from $272.00 to $280.00 in a report published on Friday morning, Benzinga reports. They currently have a neutral rating on the specialty retailer’s stock.

Several other analysts also recently weighed in on TSCO. Wells Fargo & Company upped their price objective on Tractor Supply from $295.00 to $325.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Loop Capital increased their price target on Tractor Supply from $250.00 to $260.00 and gave the company a “hold” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. raised their target price on Tractor Supply from $260.00 to $290.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Piper Sandler increased their price target on Tractor Supply from $300.00 to $332.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $335.00 price target on shares of Tractor Supply in a report on Thursday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $277.70.

Tractor Supply Stock Performance

Shares of NASDAQ TSCO opened at $272.77 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.43 and a quick ratio of 0.25. The stock’s fifty day moving average price is $282.24 and its two-hundred day moving average price is $273.05. Tractor Supply has a one year low of $185.00 and a one year high of $307.64. The firm has a market cap of $29.41 billion, a price-to-earnings ratio of 26.56, a P/E/G ratio of 3.66 and a beta of 0.80.

Tractor Supply (NASDAQ:TSCO) last released its earnings results on Thursday, October 24th. The specialty retailer reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.01. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. The firm had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.49 billion. On average, equities analysts forecast that Tractor Supply will post 10.23 EPS for the current year.

Tractor Supply Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend was Monday, August 26th. Tractor Supply’s dividend payout ratio is currently 42.84%.

Insiders Place Their Bets

In other Tractor Supply news, CFO Kurt D. Barton sold 23,532 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total value of $6,957,000.48. Following the completion of the sale, the chief financial officer now directly owns 9,683 shares of the company’s stock, valued at $2,862,682.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, SVP Matthew L. Rubin sold 540 shares of Tractor Supply stock in a transaction on Monday, August 12th. The stock was sold at an average price of $262.35, for a total value of $141,669.00. Following the completion of the transaction, the senior vice president now directly owns 5,170 shares in the company, valued at approximately $1,356,349.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kurt D. Barton sold 23,532 shares of Tractor Supply stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $295.64, for a total value of $6,957,000.48. Following the completion of the transaction, the chief financial officer now owns 9,683 shares of the company’s stock, valued at approximately $2,862,682.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On Tractor Supply

Hedge funds have recently made changes to their positions in the stock. Future Financial Wealth Managment LLC bought a new stake in Tractor Supply during the first quarter valued at $26,000. LRI Investments LLC bought a new stake in Tractor Supply during the first quarter valued at $28,000. J.Safra Asset Management Corp boosted its stake in Tractor Supply by 700.0% during the first quarter. J.Safra Asset Management Corp now owns 112 shares of the specialty retailer’s stock valued at $29,000 after buying an additional 98 shares during the period. Whittier Trust Co. boosted its stake in Tractor Supply by 60.9% during the second quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock valued at $30,000 after buying an additional 42 shares during the period. Finally, OFI Invest Asset Management bought a new stake in Tractor Supply during the second quarter valued at $33,000. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

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.