Raymond James Raises Tractor Supply (NASDAQ:TSCO) Price Target to $290.00

Tractor Supply (NASDAQ:TSCO) had its price objective upped by Raymond James from $285.00 to $290.00 in a research report report published on Friday morning, Benzinga reports. Raymond James currently has an outperform rating on the specialty retailer’s stock.

TSCO has been the topic of several other research reports. Melius Research assumed coverage on shares of Tractor Supply in a research report on Monday, September 23rd. They set a “buy” rating and a $315.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on shares of Tractor Supply from $260.00 to $290.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Wedbush reaffirmed a “neutral” rating and set a $270.00 price target on shares of Tractor Supply in a research report on Friday. Telsey Advisory Group reaffirmed an “outperform” rating and set a $335.00 price target on shares of Tractor Supply in a research report on Thursday. Finally, Wells Fargo & Company lifted their price target on shares of Tractor Supply from $295.00 to $325.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Tractor Supply presently has an average rating of “Hold” and an average target price of $277.70.

Tractor Supply Price Performance

TSCO traded down $1.52 during trading on Friday, reaching $272.77. The company’s stock had a trading volume of 826,163 shares, compared to its average volume of 1,052,698. The company has a quick ratio of 0.25, a current ratio of 1.43 and a debt-to-equity ratio of 0.76. The firm has a fifty day simple moving average of $282.24 and a two-hundred day simple moving average of $273.05. Tractor Supply has a 1 year low of $185.00 and a 1 year high of $307.64. The company has a market cap of $29.41 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 3.66 and a beta of 0.80.

Tractor Supply (NASDAQ:TSCO) last released its earnings results on Thursday, October 24th. The specialty retailer reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.01. Tractor Supply had a net margin of 7.65% and a return on equity of 51.84%. The business had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.49 billion. As a group, analysts anticipate that Tractor Supply will post 10.23 EPS for the current year.

Tractor Supply Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were paid a $1.10 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $4.40 annualized dividend and a dividend yield of 1.61%. Tractor Supply’s dividend payout ratio (DPR) is 42.84%.

Insiders Place Their Bets

In other Tractor Supply news, CFO Kurt D. Barton sold 23,532 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $295.64, for a total value of $6,957,000.48. Following the completion of the transaction, the chief financial officer now owns 9,683 shares in the company, valued at $2,862,682.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Kurt D. Barton sold 23,532 shares of Tractor Supply stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $295.64, for a total transaction of $6,957,000.48. Following the completion of the sale, the chief financial officer now directly owns 9,683 shares of the company’s stock, valued at approximately $2,862,682.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Matthew L. Rubin sold 540 shares of Tractor Supply stock in a transaction on Monday, August 12th. The stock was sold at an average price of $262.35, for a total transaction of $141,669.00. Following the sale, the senior vice president now directly owns 5,170 shares of the company’s stock, valued at approximately $1,356,349.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On Tractor Supply

Institutional investors have recently modified their holdings of the company. Brookstone Capital Management lifted its position in Tractor Supply by 20.1% in the first quarter. Brookstone Capital Management now owns 1,776 shares of the specialty retailer’s stock valued at $465,000 after acquiring an additional 297 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of Tractor Supply during the first quarter worth about $26,000. Wealthcare Advisory Partners LLC purchased a new stake in shares of Tractor Supply in the 1st quarter valued at about $332,000. Hennessy Advisors Inc. acquired a new stake in shares of Tractor Supply in the 1st quarter valued at about $3,245,000. Finally, Fifth Third Wealth Advisors LLC purchased a new position in Tractor Supply during the 1st quarter worth approximately $257,000. 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.