Tractor Supply (NASDAQ:TSCO) Given New $300.00 Price Target at Piper Sandler

Tractor Supply (NASDAQ:TSCO) had its target price lifted by Piper Sandler from $265.00 to $300.00 in a report published on Monday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the specialty retailer’s stock.

A number of other analysts also recently issued reports on the company. The Goldman Sachs Group lifted their price target on Tractor Supply from $230.00 to $262.00 and gave the company a buy rating in a research report on Friday, February 2nd. Morgan Stanley boosted their target price on Tractor Supply from $195.00 to $235.00 and gave the stock an underweight rating in a research report on Friday, April 26th. Truist Financial boosted their target price on Tractor Supply from $277.00 to $289.00 and gave the stock a buy rating in a research report on Friday, April 26th. Stephens downgraded Tractor Supply from an overweight rating to an equal weight rating and boosted their target price for the stock from $226.00 to $240.00 in a research report on Tuesday, January 23rd. Finally, Mizuho restated a neutral rating and issued a $250.00 target price (up previously from $245.00) on shares of Tractor Supply in a research report on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $251.25.

Tractor Supply Stock Performance

Shares of TSCO opened at $271.17 on Monday. The company has a market cap of $29.27 billion, a PE ratio of 26.40, a price-to-earnings-growth ratio of 3.51 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 stock has a 50-day moving average price of $254.00 and a 200-day moving average price of $227.98. 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 quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.13. The firm had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.40 billion. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the company posted $1.65 EPS. As a group, equities analysts forecast that Tractor Supply will post 10.3 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were paid a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.62%. This is a boost from Tractor Supply’s previous quarterly dividend of $1.03. The ex-dividend date was Friday, February 23rd. Tractor Supply’s dividend payout ratio is presently 42.84%.

Insider Buying and Selling

In related news, 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 value of $2,168,750.00. Following the sale, the executive vice president now directly owns 9,673 shares of the company’s stock, valued at $2,418,250. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, 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 value of $2,168,750.00. Following the sale, the executive vice president now directly owns 9,673 shares of the company’s stock, valued at $2,418,250. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Harry A. Lawton III sold 20,500 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $232.93, for a total value of $4,775,065.00. Following the completion of the sale, the chief executive officer now directly owns 95,192 shares in the company, 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 valued at $21,201,877 over the last ninety days. Company insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On Tractor Supply

Several hedge funds have recently added to or reduced their stakes in TSCO. Exchange Traded Concepts LLC boosted its holdings in Tractor Supply by 160.5% in the third quarter. Exchange Traded Concepts LLC now owns 2,373 shares of the specialty retailer’s stock worth $482,000 after acquiring an additional 1,462 shares in the last quarter. Asset Management One Co. Ltd. boosted its holdings in Tractor Supply by 0.6% in the third quarter. Asset Management One Co. Ltd. now owns 47,497 shares of the specialty retailer’s stock worth $9,644,000 after acquiring an additional 290 shares in the last quarter. Simplicity Solutions LLC boosted its holdings in Tractor Supply by 8.4% in the third quarter. Simplicity Solutions LLC now owns 3,890 shares of the specialty retailer’s stock worth $790,000 after acquiring an additional 301 shares in the last quarter. Golden State Equity Partners bought a new position in shares of Tractor Supply during the third quarter valued at $203,000. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of Tractor Supply by 6.2% during the third quarter. Commonwealth Equity Services LLC now owns 49,532 shares of the specialty retailer’s stock valued at $10,058,000 after purchasing an additional 2,901 shares in the last quarter. 98.72% of the stock is 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.