Tractor Supply (NASDAQ:TSCO) Given New $240.00 Price Target at Barclays

Tractor Supply (NASDAQ:TSCO) had its target price boosted by Barclays from $234.00 to $240.00 in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has an equal weight rating on the specialty retailer’s stock.

A number of other research analysts have also commented on TSCO. The Goldman Sachs Group upped their price target on Tractor Supply from $230.00 to $262.00 and gave the stock a buy rating in a report on Friday, February 2nd. Stephens downgraded shares of Tractor Supply from an overweight rating to an equal weight rating and increased their price target for the company from $226.00 to $240.00 in a report on Tuesday, January 23rd. Wedbush restated a neutral rating and set a $235.00 price objective on shares of Tractor Supply in a report on Tuesday. Guggenheim upped their price objective on shares of Tractor Supply from $210.00 to $255.00 and gave the company a buy rating in a research report on Friday, February 2nd. Finally, Raymond James downgraded Tractor Supply from a strong-buy rating to an outperform rating and lifted their target price for the stock from $230.00 to $250.00 in a research report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $248.17.

Tractor Supply Stock Performance

TSCO opened at $273.90 on Friday. The stock has a 50-day moving average of $252.44 and a 200-day moving average of $226.59. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.28 and a current ratio of 1.40. 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 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 EPS for the quarter, topping the consensus estimate of $1.70 by $0.13. The firm had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.40 billion. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The business’s quarterly 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 research analysts forecast that Tractor Supply will post 10.23 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.61%. This is a positive change from Tractor Supply’s previous quarterly dividend of $1.03. The ex-dividend date was Friday, February 23rd. 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 business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 22,167 shares in the company, valued at approximately $5,147,842.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Robert D. Mills sold 48,334 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $232.23, for a total transaction of $11,224,604.82. Following the transaction, the executive vice president now owns 22,167 shares of the company’s stock, valued at $5,147,842.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Harry A. Lawton III sold 20,500 shares of Tractor Supply stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 95,192 shares of the company’s stock, valued at $22,173,072.56. The disclosure for this sale can be found here. Insiders have sold 90,090 shares of company stock valued at $21,201,877 over the last three months. 0.24% of the stock is owned by insiders.

Institutional Trading of Tractor Supply

Institutional investors have recently bought and sold shares of the business. Citizens National Bank Trust Department grew its stake in shares of Tractor Supply by 0.5% during the fourth quarter. Citizens National Bank Trust Department now owns 9,700 shares of the specialty retailer’s stock worth $2,086,000 after purchasing an additional 45 shares during the period. Lindbrook Capital LLC increased its stake in shares of Tractor Supply by 10.9% in the 1st quarter. Lindbrook Capital LLC now owns 459 shares of the specialty retailer’s stock valued at $120,000 after acquiring an additional 45 shares during the last quarter. Wedmont Private Capital raised its position in shares of Tractor Supply by 3.6% in the 1st quarter. Wedmont Private Capital now owns 1,309 shares of the specialty retailer’s stock valued at $331,000 after acquiring an additional 45 shares during the period. Wahed Invest LLC boosted its stake in Tractor Supply by 2.8% during the 4th quarter. Wahed Invest LLC now owns 1,783 shares of the specialty retailer’s stock worth $383,000 after acquiring an additional 49 shares during the last quarter. Finally, Allen Capital Group LLC grew its holdings in Tractor Supply by 0.6% during the third quarter. Allen Capital Group LLC now owns 8,869 shares of the specialty retailer’s stock valued at $1,805,000 after purchasing an additional 53 shares during the period. Institutional investors and hedge funds 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.