Morgan Stanley Boosts Tractor Supply (NASDAQ:TSCO) Price Target to $235.00

Tractor Supply (NASDAQ:TSCO) had its price target raised by Morgan Stanley from $195.00 to $235.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an underweight rating on the specialty retailer’s stock.

Several other research firms have also recently weighed in on TSCO. Barclays increased their price target 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 increased their price target on shares of Tractor Supply from $210.00 to $255.00 and gave the company a buy rating in a report on Friday, February 2nd. Wedbush reissued a neutral rating and issued a $235.00 price target on shares of Tractor Supply in a report on Tuesday, April 23rd. UBS Group increased their price target on shares of Tractor Supply from $220.00 to $240.00 and gave the company a neutral rating in a report on Friday, February 2nd. Finally, Telsey Advisory Group restated an outperform rating and set a $275.00 target price on shares of Tractor Supply in a research report on Thursday, April 25th. 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. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $250.00.

Tractor Supply Stock Up 1.5 %

Shares of TSCO stock opened at $277.88 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.19 and a current ratio of 1.40. The firm’s 50-day moving average is $253.27 and its 200-day moving average is $227.47. The stock has a market cap of $29.99 billion, a price-to-earnings ratio of 27.06, a PEG ratio of 3.47 and a beta of 0.84. Tractor Supply has a 52-week low of $185.00 and a 52-week high of $278.16.

Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.13. The company had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.40 billion. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. Tractor Supply’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.65 EPS. Sell-side analysts predict that Tractor Supply will post 10.26 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 given a $1.10 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $4.40 dividend on an annualized basis and a yield of 1.58%. This is a positive change from Tractor Supply’s previous quarterly dividend of $1.03. Tractor Supply’s dividend payout ratio (DPR) is currently 42.84%.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply 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 shares were sold at an average price of $232.93, for a total value of $4,775,065.00. Following the sale, the chief executive officer now owns 95,192 shares in the company, valued at $22,173,072.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Harry A. Lawton III sold 20,500 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $232.93, for a total transaction of $4,775,065.00. Following the completion of the transaction, the chief executive officer now owns 95,192 shares of the company’s stock, valued at $22,173,072.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Matthew L. Rubin sold 725 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $238.09, for a total transaction of $172,615.25. Following the transaction, the senior vice president now directly owns 5,710 shares of the company’s stock, valued at approximately $1,359,493.90. The disclosure for this sale can be found here. Insiders have sold 90,090 shares of company stock worth $21,201,877 over the last quarter. Corporate insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On Tractor Supply

Several large investors have recently modified their holdings of TSCO. Exchange Traded Concepts LLC raised its stake in shares of Tractor Supply by 160.5% during the third quarter. Exchange Traded Concepts LLC now owns 2,373 shares of the specialty retailer’s stock valued at $482,000 after acquiring an additional 1,462 shares during the last quarter. Private Trust Co. NA raised its stake in shares of Tractor Supply by 10.0% during the third quarter. Private Trust Co. NA now owns 734 shares of the specialty retailer’s stock valued at $149,000 after acquiring an additional 67 shares during the last quarter. Koshinski Asset Management Inc. raised its stake in Tractor Supply by 4.7% during the third quarter. Koshinski Asset Management Inc. now owns 1,993 shares of the specialty retailer’s stock worth $405,000 after buying an additional 89 shares during the last quarter. Czech National Bank raised its stake in Tractor Supply by 46.7% during the third quarter. Czech National Bank now owns 19,027 shares of the specialty retailer’s stock worth $3,863,000 after buying an additional 6,056 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in Tractor Supply by 0.6% during the third quarter. Asset Management One Co. Ltd. now owns 47,497 shares of the specialty retailer’s stock worth $9,644,000 after buying an additional 290 shares during the last quarter. 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.