Tractor Supply (NASDAQ:TSCO) Price Target Increased to $290.00 by Analysts at JPMorgan Chase & Co.

Tractor Supply (NASDAQ:TSCO) had its price objective lifted by JPMorgan Chase & Co. from $260.00 to $290.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a neutral rating on the specialty retailer’s stock.

TSCO has been the subject of several other reports. Wedbush restated a “neutral” rating and set a $270.00 price target on shares of Tractor Supply in a report on Friday, July 26th. Benchmark reissued a “buy” rating and set a $280.00 target price on shares of Tractor Supply in a research note on Monday, September 30th. Melius Research began coverage on shares of Tractor Supply in a report on Monday, September 23rd. They set a “buy” rating and a $315.00 price target on the stock. UBS Group raised Tractor Supply from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Finally, Wells Fargo & Company boosted their target price on Tractor Supply from $295.00 to $325.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $269.55.

Tractor Supply Price Performance

Shares of NASDAQ:TSCO opened at $302.80 on Wednesday. The company’s fifty day moving average is $278.47 and its two-hundred day moving average is $271.47. The company has a market cap of $32.66 billion, a P/E ratio of 29.20, a price-to-earnings-growth ratio of 3.81 and a beta of 0.80. Tractor Supply has a 12-month low of $185.00 and a 12-month high of $307.64. The company has a quick ratio of 0.25, a current ratio of 1.43 and a debt-to-equity ratio of 0.76.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings results on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share for the quarter, meeting the consensus estimate of $3.93. The firm had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.28 billion. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. Tractor Supply’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $3.83 earnings per share. Equities analysts expect that Tractor Supply will post 10.23 earnings per share for the current fiscal year.

Tractor Supply Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were paid a dividend of $1.10 per share. The ex-dividend date was Monday, August 26th. This represents a $4.40 annualized dividend and a yield of 1.45%. Tractor Supply’s payout ratio is 42.43%.

Insiders Place Their Bets

In other news, SVP Matthew L. Rubin sold 540 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly owns 5,170 shares of the company’s stock, valued at approximately $1,356,349.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Kurt D. Barton sold 23,532 shares of Tractor Supply stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total transaction of $6,957,000.48. Following 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 Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Matthew L. Rubin sold 540 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were 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 of the company’s stock, valued at approximately $1,356,349.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.

Institutional Trading of Tractor Supply

A number of institutional investors and hedge funds have recently modified their holdings of the company. Henrickson Nauta Wealth Advisors Inc. lifted its position in Tractor Supply by 3.2% in the third quarter. Henrickson Nauta Wealth Advisors Inc. now owns 1,127 shares of the specialty retailer’s stock worth $328,000 after purchasing an additional 35 shares during the period. Signature Wealth Management Group lifted its holdings in shares of Tractor Supply by 0.5% during the 2nd quarter. Signature Wealth Management Group now owns 6,999 shares of the specialty retailer’s stock worth $1,890,000 after acquiring an additional 38 shares during the period. X Square Capital LLC boosted its position in shares of Tractor Supply by 1.6% during the 2nd quarter. X Square Capital LLC now owns 2,579 shares of the specialty retailer’s stock valued at $696,000 after acquiring an additional 41 shares in the last quarter. Eads & Heald Wealth Management boosted its position in shares of Tractor Supply by 0.6% during the 2nd quarter. Eads & Heald Wealth Management now owns 7,040 shares of the specialty retailer’s stock valued at $1,901,000 after acquiring an additional 42 shares in the last quarter. Finally, Whittier Trust Co. increased its stake in Tractor Supply by 60.9% in the second quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock valued at $30,000 after acquiring an additional 42 shares during the period. 98.72% of the stock is currently owned by institutional investors.

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.