Tractor Supply (NASDAQ:TSCO) Given New $275.00 Price Target at Evercore ISI

Tractor Supply (NASDAQ:TSCO) had its price objective trimmed by Evercore ISI from $280.00 to $275.00 in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has an outperform rating on the specialty retailer’s stock.

Several other equities analysts also recently issued reports on TSCO. Wedbush upped their price objective on shares of Tractor Supply from $200.00 to $235.00 and gave the company a neutral rating in a research note on Friday, February 2nd. The Goldman Sachs Group increased their price target on shares of Tractor Supply from $230.00 to $262.00 and gave the stock a buy rating in a research note on Friday, February 2nd. Stephens downgraded shares of Tractor Supply from an overweight rating to an equal weight rating and increased their price target for the stock from $226.00 to $240.00 in a research note on Tuesday, January 23rd. Mizuho initiated coverage on shares of Tractor Supply in a research note on Tuesday, March 19th. They set a neutral rating and a $245.00 price target on the stock. Finally, Truist Financial increased their price target on shares of Tractor Supply from $256.00 to $277.00 and gave the stock a buy rating in a research note on Tuesday, April 2nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Tractor Supply currently has a consensus rating of Hold and a consensus price target of $239.61.

Tractor Supply Stock Performance

Shares of TSCO opened at $244.84 on Tuesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.28 and a current ratio of 1.50. The company has a market capitalization of $26.43 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 3.68 and a beta of 0.84. The company’s 50 day simple moving average is $248.95 and its 200 day simple moving average is $223.95. Tractor Supply has a 1 year low of $185.00 and a 1 year high of $268.02.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings data on Thursday, February 1st. The specialty retailer reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.06. The business had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.67 billion. Tractor Supply had a net margin of 7.61% and a return on equity of 53.60%. The company’s quarterly revenue was down 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.43 earnings per share. On average, sell-side analysts predict that Tractor Supply will post 10.19 EPS for the current 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 issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.80%. This is a positive change from Tractor Supply’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Friday, February 23rd. Tractor Supply’s dividend payout ratio (DPR) is presently 43.61%.

Insider Activity at Tractor Supply

In related news, EVP Robert D. Mills sold 48,334 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $232.23, for a total transaction of $11,224,604.82. Following the completion of the sale, the executive vice president now directly owns 22,167 shares of the company’s stock, valued at approximately $5,147,842.41. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Tractor Supply news, EVP Robert D. Mills sold 48,334 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $232.23, for a total transaction of $11,224,604.82. Following the completion of the transaction, the executive vice president now directly owns 22,167 shares of the company’s stock, valued at approximately $5,147,842.41. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Matthew L. Rubin sold 725 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $238.09, for a total transaction of $172,615.25. Following the transaction, the senior vice president now directly owns 5,710 shares of the company’s stock, valued at $1,359,493.90. The disclosure for this sale can be found here. In the last three months, insiders sold 90,090 shares of company stock valued at $21,201,877. Corporate insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TSCO. Toth Financial Advisory Corp boosted its holdings in shares of Tractor Supply by 3.3% in the 1st quarter. Toth Financial Advisory Corp now owns 5,596 shares of the specialty retailer’s stock valued at $1,465,000 after buying an additional 180 shares during the period. Asio Capital LLC boosted its holdings in shares of Tractor Supply by 0.9% in the 1st quarter. Asio Capital LLC now owns 17,633 shares of the specialty retailer’s stock valued at $4,615,000 after buying an additional 151 shares during the period. Capital Asset Advisory Services LLC acquired a new position in shares of Tractor Supply in the 1st quarter valued at about $225,000. Fifth Third Wealth Advisors LLC acquired a new position in shares of Tractor Supply in the 1st quarter valued at about $257,000. Finally, Hennessy Advisors Inc. acquired a new position in shares of Tractor Supply in the 1st quarter valued at about $3,245,000. 98.72% of the stock is owned by institutional investors and hedge funds.

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.