Tractor Supply (NASDAQ:TSCO) Price Target Raised to $305.00

Tractor Supply (NASDAQ:TSCO) had its price target increased by Telsey Advisory Group from $280.00 to $305.00 in a research note issued to investors on Wednesday, MarketBeat reports. They currently have an outperform rating on the specialty retailer’s stock. Telsey Advisory Group also issued estimates for Tractor Supply’s Q2 2024 earnings at $3.93 EPS, Q3 2024 earnings at $2.25 EPS, Q4 2024 earnings at $2.39 EPS, FY2024 earnings at $10.40 EPS, Q1 2025 earnings at $1.99 EPS, Q2 2025 earnings at $4.33 EPS, Q3 2025 earnings at $2.49 EPS and FY2025 earnings at $11.43 EPS.

Other analysts also recently issued research reports about the company. Benchmark reaffirmed a buy rating and set a $256.00 price objective on shares of Tractor Supply in a research note on Monday, April 22nd. Guggenheim raised their price objective on Tractor Supply from $210.00 to $255.00 and gave the stock a buy rating in a research note on Friday, February 2nd. TD Cowen raised their price objective on Tractor Supply from $250.00 to $270.00 and gave the stock a buy rating in a research note on Friday, April 26th. Piper Sandler raised their price objective on Tractor Supply from $265.00 to $300.00 and gave the stock an overweight rating in a research note on Monday, April 29th. Finally, Evercore ISI raised their price objective on Tractor Supply from $275.00 to $280.00 and gave the stock an outperform rating in a research note on Friday, April 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $253.54.

Tractor Supply Price Performance

Tractor Supply stock opened at $270.21 on Wednesday. The business’s 50-day simple moving average is $255.80 and its 200 day simple moving average is $229.00. 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 stock has a market cap of $29.16 billion, a price-to-earnings ratio of 26.31, a P/E/G ratio of 3.36 and a beta of 0.82. Tractor Supply has a 12-month low of $185.00 and a 12-month high of $279.38.

Tractor Supply (NASDAQ:TSCO) last issued its earnings results 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 company had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same quarter in the previous year, the company posted $1.65 EPS. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, research analysts anticipate that Tractor Supply will post 10.3 earnings per share for the current year.

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date was Friday, February 23rd. This is a boost from Tractor Supply’s previous quarterly dividend of $1.03. Tractor Supply’s payout ratio is currently 42.84%.

Insider Activity at Tractor Supply

In related news, EVP Colin Yankee sold 8,675 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $250.00, for a total value of $2,168,750.00. Following the completion of the sale, the executive vice president now directly owns 9,673 shares in the company, valued at $2,418,250. The sale was disclosed in a filing with the SEC, which is available at this link. In other Tractor Supply news, CEO Harry A. Lawton III sold 20,500 shares of the business’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 directly owns 95,192 shares in the company, valued at $22,173,072.56. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Colin Yankee sold 8,675 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $250.00, for a total transaction of $2,168,750.00. Following the transaction, the executive vice president now owns 9,673 shares of the company’s stock, valued at $2,418,250. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,090 shares of company stock worth $21,201,877. Company insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew 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 worth $2,753,432,000 after acquiring an additional 48,439 shares during the period. Capital International Investors grew its stake in shares of Tractor Supply by 7.6% in 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 buying an additional 439,954 shares during the period. Capital World Investors grew its stake in shares of Tractor Supply by 10.0% in 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 buying an additional 531,170 shares during the period. Wellington Management Group LLP grew its stake in shares of Tractor Supply by 63.2% in 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 buying an additional 1,784,304 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Tractor Supply by 76.7% in the 3rd quarter. Invesco Ltd. now owns 2,024,182 shares of the specialty retailer’s stock valued at $411,010,000 after buying an additional 878,874 shares during the period. 98.72% of the stock is owned by 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.