Tractor Supply’s (TSCO) Outperform Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group reissued their outperform rating on shares of Tractor Supply (NASDAQ:TSCO) in a report released on Friday morning,Benzinga reports. The brokerage currently has a $335.00 price target on the specialty retailer’s stock.

A number of other research firms have also issued reports on TSCO. Piper Sandler increased their price target on shares of Tractor Supply from $300.00 to $332.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. DA Davidson increased their price target on shares of Tractor Supply from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Robert W. Baird set a $320.00 price target on shares of Tractor Supply in a research report on Thursday, October 17th. Raymond James increased their price target on shares of Tractor Supply from $285.00 to $290.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, Wedbush reissued a “neutral” rating and issued a $270.00 price target on shares of Tractor Supply in a research report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $282.59.

Tractor Supply Price Performance

TSCO stock opened at $282.46 on Friday. 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 one year low of $207.00 and a one year high of $307.64. The firm has a market capitalization of $30.18 billion, a PE ratio of 27.48, a P/E/G ratio of 3.58 and a beta of 0.83. The firm has a 50-day moving average of $285.15 and a two-hundred day moving average of $276.12.

Tractor Supply’s stock is scheduled to split on the morning of Friday, December 20th. The 5-1 split was announced on Thursday, December 5th. The newly issued shares will be issued to shareholders after the market closes on Thursday, December 19th.

Tractor Supply Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be issued a dividend of $1.10 per share. The ex-dividend date is Monday, November 25th. This represents a $4.40 annualized dividend and a yield of 1.56%. Tractor Supply’s dividend payout ratio (DPR) is presently 42.80%.

Insider Buying and Selling at Tractor Supply

In other news, CFO Kurt D. Barton sold 23,532 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total value 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. This represents a 70.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On Tractor Supply

Several hedge funds have recently modified their holdings of the business. Henrickson Nauta Wealth Advisors Inc. boosted its position in shares of Tractor Supply by 3.2% in the third quarter. Henrickson Nauta Wealth Advisors Inc. now owns 1,127 shares of the specialty retailer’s stock valued at $328,000 after acquiring an additional 35 shares during the period. Private Advisor Group LLC lifted its position in Tractor Supply by 0.5% in the third quarter. Private Advisor Group LLC now owns 7,693 shares of the specialty retailer’s stock worth $2,238,000 after purchasing an additional 37 shares during the period. Signature Wealth Management Group lifted its position in Tractor Supply by 0.5% in the second quarter. Signature Wealth Management Group now owns 6,999 shares of the specialty retailer’s stock worth $1,890,000 after purchasing an additional 38 shares during the period. Baldwin Investment Management LLC lifted its position in Tractor Supply by 0.3% in the third quarter. Baldwin Investment Management LLC now owns 11,402 shares of the specialty retailer’s stock worth $3,317,000 after purchasing an additional 38 shares during the period. Finally, X Square Capital LLC lifted its position in Tractor Supply by 1.6% in the second quarter. X Square Capital LLC now owns 2,579 shares of the specialty retailer’s stock worth $696,000 after purchasing an additional 41 shares during the period. 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.