Brokerages Set Tractor Supply (NASDAQ:TSCO) PT at $284.50

Tractor Supply (NASDAQ:TSCO) has earned a consensus rating of “Moderate Buy” from the twenty-two brokerages that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $57.98.

Several research firms recently issued reports on TSCO. JPMorgan Chase & Co. raised their price target on Tractor Supply from $52.00 to $58.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Citigroup cut shares of Tractor Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. Robert W. Baird set a $64.00 target price on Tractor Supply in a report on Thursday, October 17th. Loop Capital raised their target price on Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, December 12th. Finally, Evercore ISI raised Tractor Supply from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 15th.

Insider Activity

In other news, CFO Kurt D. Barton sold 117,660 shares of Tractor Supply stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $59.13, for a total value of $6,957,000.48. Following the completion of the sale, the chief financial officer now directly owns 48,415 shares in the company, valued at $2,862,682.12. The trade was a 70.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On Tractor Supply

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP lifted its holdings in shares of Tractor Supply by 2,921.4% during the 2nd quarter. Marshall Wace LLP now owns 357,225 shares of the specialty retailer’s stock valued at $96,451,000 after buying an additional 345,402 shares during the period. International Assets Investment Management LLC lifted its holdings in Tractor Supply by 29,058.6% in the third quarter. International Assets Investment Management LLC now owns 233,269 shares of the specialty retailer’s stock valued at $67,865,000 after acquiring an additional 232,469 shares during the period. Clearbridge Investments LLC boosted its position in Tractor Supply by 67.4% in the second quarter. Clearbridge Investments LLC now owns 403,710 shares of the specialty retailer’s stock worth $109,002,000 after purchasing an additional 162,533 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Tractor Supply by 3.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,740,864 shares of the specialty retailer’s stock valued at $1,379,260,000 after purchasing an additional 161,503 shares during the period. Finally, Benjamin Edwards Inc. increased its position in shares of Tractor Supply by 1,501.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 171,050 shares of the specialty retailer’s stock valued at $49,773,000 after purchasing an additional 160,367 shares during the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Stock Up 2.1 %

Shares of NASDAQ:TSCO opened at $53.92 on Friday. The stock has a market capitalization of $5.76 billion, a P/E ratio of 5.25, a price-to-earnings-growth ratio of 3.58 and a beta of 0.83. The stock’s 50-day moving average price is $56.39 and its 200-day moving average price is $55.17. The company has a current ratio of 1.48, a quick ratio of 0.17 and a debt-to-equity ratio of 0.81. Tractor Supply has a 12-month low of $41.80 and a 12-month high of $61.53.

Tractor Supply Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.63%. The ex-dividend date was Monday, November 25th. Tractor Supply’s dividend payout ratio is currently 42.80%.

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.