Evercore ISI Boosts Tractor Supply (NASDAQ:TSCO) Price Target to $295.00

Tractor Supply (NASDAQ:TSCO) had its price objective raised by Evercore ISI from $290.00 to $295.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have an outperform rating on the specialty retailer’s stock.

TSCO has been the topic of several other reports. Morgan Stanley upped their price objective on shares of Tractor Supply from $195.00 to $235.00 and gave the company an underweight rating in a report on Friday, April 26th. Wedbush restated a neutral rating and issued a $235.00 price target on shares of Tractor Supply in a research note on Tuesday, April 23rd. Truist Financial upped their price target on shares of Tractor Supply from $277.00 to $289.00 and gave the company a buy rating in a research note on Friday, April 26th. JPMorgan Chase & Co. upped their price target on shares of Tractor Supply from $241.00 to $263.00 and gave the company a neutral rating in a research note on Friday, May 3rd. Finally, Barclays upped their price target on shares of Tractor Supply from $234.00 to $240.00 and gave the company an equal weight rating in a research note on Friday, April 26th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Tractor Supply presently has an average rating of Hold and a consensus target price of $254.17.

Tractor Supply Price Performance

NASDAQ:TSCO opened at $281.56 on Thursday. Tractor Supply has a one year low of $185.00 and a one year high of $290.38. The company has a market cap of $30.35 billion, a P/E ratio of 27.42, a P/E/G ratio of 3.65 and a beta of 0.83. The firm’s fifty day moving average price is $272.67 and its two-hundred day moving average price is $248.43. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.40 and a quick ratio of 0.19.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, April 25th. The specialty retailer reported $1.83 EPS for the quarter, beating the consensus estimate of $1.70 by $0.13. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The firm had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same period in the previous year, the company earned $1.65 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. Equities analysts expect that Tractor Supply will post 10.34 earnings per share for the current year.

Tractor Supply Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 28th were issued a $1.10 dividend. The ex-dividend date of this dividend was Friday, May 24th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.56%. Tractor Supply’s dividend payout ratio (DPR) is currently 42.84%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Tractor Supply by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 12,804,873 shares of the specialty retailer’s stock valued at $2,753,432,000 after buying an additional 48,439 shares during the period. Capital International Investors increased its position in Tractor Supply by 7.6% during the 4th quarter. Capital International Investors now owns 6,233,852 shares of the specialty retailer’s stock valued at $1,340,589,000 after purchasing an additional 439,954 shares during the period. Capital World Investors increased its position in Tractor Supply by 10.0% during the 4th quarter. Capital World Investors now owns 5,849,188 shares of the specialty retailer’s stock valued at $1,257,751,000 after purchasing an additional 531,170 shares during the period. Wellington Management Group LLP increased its position in Tractor Supply by 63.2% during the 4th quarter. Wellington Management Group LLP now owns 4,606,455 shares of the specialty retailer’s stock valued at $990,526,000 after purchasing an additional 1,784,304 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in Tractor Supply by 12.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,330,621 shares of the specialty retailer’s stock valued at $871,691,000 after purchasing an additional 368,859 shares during the period. 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.