Piper Sandler Raises Tractor Supply (NASDAQ:TSCO) Price Target to $300.00

Tractor Supply (NASDAQ:TSCO) had its price target upped by Piper Sandler from $265.00 to $300.00 in a report published on Monday, Benzinga reports. The firm currently has an overweight rating on the specialty retailer’s stock.

Several other equities research analysts have also weighed in on the stock. Morgan Stanley upped their target price on shares of Tractor Supply from $195.00 to $235.00 and gave the stock an underweight rating in a report on Friday, April 26th. The Goldman Sachs Group increased their price objective 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. Guggenheim increased their price objective on shares of Tractor Supply from $210.00 to $255.00 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 upped their target price for the company from $226.00 to $240.00 in a research report on Tuesday, January 23rd. Finally, Robert W. Baird upped their target price on shares of Tractor Supply from $260.00 to $285.00 and gave the company an outperform rating in a research 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. Based on data from MarketBeat.com, Tractor Supply currently has an average rating of Hold and an average target price of $251.25.

Tractor Supply Stock Performance

TSCO opened at $271.17 on Monday. The company has a market cap of $29.27 billion, a PE ratio of 26.40, a price-to-earnings-growth ratio of 3.51 and a beta of 0.84. The stock has a 50-day moving average of $254.00 and a 200-day moving average of $227.98. Tractor Supply has a 52-week low of $185.00 and a 52-week high of $279.38. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.19 and a current ratio of 1.40.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share for the quarter, beating the consensus estimate 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 quarter in the prior year, the company earned $1.65 EPS. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, equities research analysts forecast that Tractor Supply will post 10.3 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were paid a dividend of $1.10 per share. This is a boost from Tractor Supply’s previous quarterly dividend of $1.03. This represents a $4.40 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Friday, February 23rd. Tractor Supply’s dividend payout ratio (DPR) is currently 42.84%.

Insider Activity at Tractor Supply

In related news, CFO Kurt D. Barton sold 4,335 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $257.00, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Kurt D. Barton sold 401 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $232.06, for a total value of $93,056.06. Following the completion of the transaction, the chief financial officer now directly owns 25,013 shares of the company’s stock, valued at $5,804,516.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kurt D. Barton sold 4,335 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $257.00, for a total value of $1,114,095.00. Following the sale, the chief financial officer now directly owns 20,678 shares of the company’s stock, valued at approximately $5,314,246. The disclosure for this sale can be found here. Over the last three months, insiders sold 90,090 shares of company stock valued at $21,201,877. 0.24% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tractor Supply

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Tractor Supply by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 12,804,873 shares of the specialty retailer’s stock valued at $2,753,432,000 after purchasing an additional 48,439 shares during the last quarter. Capital International Investors lifted its holdings in shares of Tractor Supply by 7.6% during the fourth quarter. Capital International Investors now owns 6,233,852 shares of the specialty retailer’s stock worth $1,340,589,000 after buying an additional 439,954 shares in the last quarter. Capital World Investors lifted its holdings in shares of Tractor Supply by 10.0% during the fourth quarter. Capital World Investors now owns 5,849,188 shares of the specialty retailer’s stock worth $1,257,751,000 after buying an additional 531,170 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Tractor Supply by 63.2% during the fourth quarter. Wellington Management Group LLP now owns 4,606,455 shares of the specialty retailer’s stock worth $990,526,000 after buying an additional 1,784,304 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Tractor Supply by 76.7% during the third quarter. Invesco Ltd. now owns 2,024,182 shares of the specialty retailer’s stock worth $411,010,000 after buying an additional 878,874 shares in the last quarter. Institutional investors and hedge funds 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.