Piper Sandler Increases 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 research note issued to investors on Monday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the specialty retailer’s stock.

A number of other brokerages also recently issued reports on TSCO. Wedbush reiterated a neutral rating and issued a $235.00 price target on shares of Tractor Supply in a report on Tuesday, April 23rd. Stephens cut shares of Tractor Supply from an overweight rating to an equal weight rating and increased their target price for the company from $226.00 to $240.00 in a report on Tuesday, January 23rd. Robert W. Baird boosted their price target on Tractor Supply from $260.00 to $285.00 and gave the stock an outperform rating in a research note on Friday. Wells Fargo & Company upped their price target on Tractor Supply from $250.00 to $285.00 and gave the stock an overweight rating in a report on Monday, March 25th. Finally, Raymond James lifted their price objective on Tractor Supply from $250.00 to $285.00 and gave the stock an outperform rating in a report on Friday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $250.00.

Tractor Supply Price Performance

Shares of NASDAQ:TSCO opened at $277.88 on Monday. The company has a quick ratio of 0.19, a current ratio of 1.40 and a debt-to-equity ratio of 0.83. The company has a 50-day moving average price of $253.27 and a 200 day moving average price of $227.47. Tractor Supply has a 52 week low of $185.00 and a 52 week high of $278.16. The company has a market cap of $29.99 billion, a P/E ratio of 27.06, a PEG ratio of 3.47 and a beta of 0.84.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $3.40 billion. During the same period in the previous year, the business earned $1.65 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. Research analysts predict that Tractor Supply will post 10.26 earnings per share 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 issued a $1.10 dividend. This is a boost from Tractor Supply’s previous quarterly dividend of $1.03. The ex-dividend date was Friday, February 23rd. This represents a $4.40 annualized dividend and a yield of 1.58%. Tractor Supply’s payout ratio is 42.84%.

Insider Transactions at Tractor Supply

In related news, CEO Harry A. Lawton III sold 20,500 shares of the company’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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Kurt D. Barton sold 401 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 25,013 shares in the company, valued at $5,804,516.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Harry A. Lawton III sold 20,500 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $232.93, for a total transaction of $4,775,065.00. Following the sale, the chief executive officer now owns 95,192 shares of the company’s stock, valued at $22,173,072.56. The disclosure for this sale can be found here. Insiders have sold a total of 90,090 shares of company stock worth $21,201,877 in the last three months. Company insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On Tractor Supply

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Investment Group LLC lifted its stake in shares of Tractor Supply by 1.2% during the first quarter. Renaissance Investment Group LLC now owns 24,349 shares of the specialty retailer’s stock worth $6,373,000 after purchasing an additional 289 shares in the last quarter. Field & Main Bank lifted its position in Tractor Supply by 11.5% during the 1st quarter. Field & Main Bank now owns 2,824 shares of the specialty retailer’s stock worth $739,000 after acquiring an additional 291 shares in the last quarter. Greenleaf Trust lifted its position in Tractor Supply by 2.8% during the 1st quarter. Greenleaf Trust now owns 2,715 shares of the specialty retailer’s stock worth $711,000 after acquiring an additional 75 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Tractor Supply by 1.3% in the 1st quarter. Principal Financial Group Inc. now owns 348,768 shares of the specialty retailer’s stock worth $91,280,000 after acquiring an additional 4,354 shares during the period. Finally, ETF Store Inc. acquired a new stake in Tractor Supply in the first quarter valued at approximately $221,000. 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.