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

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

Several other research analysts also recently commented on the stock. Evercore ISI raised their price target on shares of Tractor Supply from $275.00 to $280.00 and gave the stock an outperform rating in a research note on Friday. Stephens cut shares of Tractor Supply from an overweight rating to an equal weight rating and raised their price target for the company from $226.00 to $240.00 in a report on Tuesday, January 23rd. The Goldman Sachs Group raised their price target on shares of Tractor Supply from $230.00 to $262.00 and gave the company a buy rating in a report on Friday, February 2nd. Raymond James cut shares of Tractor Supply from a strong-buy rating to an outperform rating and raised their price target for the company from $230.00 to $250.00 in a report on Friday, February 2nd. Finally, Guggenheim raised 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. 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. According to MarketBeat.com, Tractor Supply currently has an average rating of Hold and a consensus price target of $248.17.

Tractor Supply Trading Up 3.3 %

Shares of TSCO opened at $273.90 on Friday. Tractor Supply has a twelve month low of $185.00 and a twelve month high of $274.66. The company has a market cap of $29.56 billion, a P/E ratio of 26.67, a P/E/G ratio of 3.47 and a beta of 0.84. The company has a current ratio of 1.40, a quick ratio of 0.19 and a debt-to-equity ratio of 0.83. The company’s fifty day simple moving average is $252.44 and its 200-day simple moving average is $226.90.

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 net margin of 7.66% and a return on equity of 52.99%. The business had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the prior year, the firm posted $1.65 earnings per share. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, analysts expect that Tractor Supply will post 10.26 EPS for the current year.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were given a dividend of $1.10 per share. The ex-dividend date of this dividend was Friday, February 23rd. This is a positive change from Tractor Supply’s previous quarterly dividend of $1.03. This represents a $4.40 dividend on an annualized basis and a yield of 1.61%. Tractor Supply’s dividend payout ratio (DPR) is currently 42.84%.

Insiders Place Their Bets

In other Tractor Supply news, CFO Kurt D. Barton sold 4,335 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $257.00, for a total transaction 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 approximately $5,314,246. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Colin Yankee sold 8,675 shares of Tractor Supply stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $250.00, for a total transaction of $2,168,750.00. Following the completion of the transaction, the executive vice president now directly owns 9,673 shares of the company’s stock, valued at approximately $2,418,250. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Kurt D. Barton sold 4,335 shares of Tractor Supply stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the transaction, the chief financial officer now directly owns 20,678 shares of the company’s stock, valued at $5,314,246. The disclosure for this sale can be found here. In the last ninety days, insiders sold 90,090 shares of company stock valued at $21,201,877. 0.58% of the stock is owned by insiders.

Hedge Funds Weigh In On Tractor Supply

Several institutional investors have recently made changes to their positions in the company. Patrick M Sweeney & Associates Inc. increased its holdings in shares of Tractor Supply by 8.0% during the 1st quarter. Patrick M Sweeney & Associates Inc. now owns 1,064 shares of the specialty retailer’s stock valued at $279,000 after purchasing an additional 79 shares in the last quarter. Tritonpoint Wealth LLC increased its holdings in shares of Tractor Supply by 5.4% during the 1st quarter. Tritonpoint Wealth LLC now owns 3,340 shares of the specialty retailer’s stock valued at $874,000 after purchasing an additional 172 shares in the last quarter. Lindbrook Capital LLC increased its holdings in shares of Tractor Supply by 10.9% during the 1st quarter. Lindbrook Capital LLC now owns 459 shares of the specialty retailer’s stock valued at $120,000 after purchasing an additional 45 shares in the last quarter. WCM Investment Management LLC increased its holdings in shares of Tractor Supply by 2.3% during the 1st quarter. WCM Investment Management LLC now owns 3,702 shares of the specialty retailer’s stock valued at $969,000 after purchasing an additional 82 shares in the last quarter. Finally, TRUE Private Wealth Advisors increased its holdings in shares of Tractor Supply by 6.5% during the 1st quarter. TRUE Private Wealth Advisors now owns 1,698 shares of the specialty retailer’s stock valued at $444,000 after purchasing an additional 104 shares in the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

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.