Tractor Supply (NASDAQ:TSCO) Given New $234.00 Price Target at Barclays

Tractor Supply (NASDAQ:TSCO) had its price objective upped by Barclays from $192.00 to $234.00 in a research report released on Wednesday morning, Benzinga reports. Barclays currently has an equal weight rating on the specialty retailer’s stock.

TSCO has been the subject of several other reports. Truist Financial raised their price objective on Tractor Supply from $256.00 to $277.00 and gave the stock a buy rating in a research note on Tuesday, April 2nd. Wells Fargo & Company raised their target price on Tractor Supply from $250.00 to $285.00 and gave the stock an overweight rating in a research report on Monday, March 25th. Guggenheim raised their target price on Tractor Supply from $210.00 to $255.00 and gave the stock a buy rating in a research report on Friday, February 2nd. Stephens cut Tractor Supply from an overweight rating to an equal weight rating and raised their target price for the stock from $226.00 to $240.00 in a research report on Tuesday, January 23rd. Finally, Mizuho started coverage on Tractor Supply in a research report on Tuesday, March 19th. They issued a neutral rating and a $245.00 target price for the company. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $240.57.

Tractor Supply Stock Performance

TSCO opened at $247.39 on Wednesday. The firm has a market cap of $26.70 billion, a PE ratio of 24.52, a P/E/G ratio of 3.68 and a beta of 0.84. The company has a quick ratio of 0.28, a current ratio of 1.50 and a debt-to-equity ratio of 0.82. The business has a fifty day simple moving average of $249.23 and a 200-day simple moving average of $224.12. Tractor Supply has a fifty-two week low of $185.00 and a fifty-two week high of $268.02.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, February 1st. The specialty retailer reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.06. The business had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.67 billion. Tractor Supply had a return on equity of 53.60% and a net margin of 7.61%. The company’s revenue was down 8.6% compared to the same quarter last year. During the same period last year, the company posted $2.43 EPS. As a group, equities analysts predict that Tractor Supply will post 10.19 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were issued a dividend of $1.10 per share. This is a positive change from Tractor Supply’s previous quarterly dividend of $1.03. This represents a $4.40 annualized dividend and a yield of 1.78%. The ex-dividend date was Friday, February 23rd. Tractor Supply’s dividend payout ratio (DPR) is 43.61%.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, CFO Kurt D. Barton sold 4,335 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the transaction, the chief financial officer now directly owns 20,678 shares in the company, valued at $5,314,246. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Harry A. Lawton III sold 20,500 shares of Tractor Supply stock in a transaction dated 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 transaction, the chief executive officer now directly owns 95,192 shares in the company, valued at $22,173,072.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kurt D. Barton sold 4,335 shares of Tractor Supply stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $257.00, for a total value of $1,114,095.00. Following the completion of the transaction, the chief financial officer now owns 20,678 shares in the company, valued at $5,314,246. The disclosure for this sale can be found here. Insiders have sold a total of 90,090 shares of company stock worth $21,201,877 over the last three months. Corporate insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On Tractor Supply

Institutional investors have recently made changes to their positions in the business. OFI Invest Asset Management bought a new position in shares of Tractor Supply in the third quarter worth about $25,000. Compass Wealth Management LLC acquired a new stake in Tractor Supply during the fourth quarter worth about $25,000. Future Financial Wealth Managment LLC acquired a new stake in Tractor Supply during the first quarter worth about $26,000. Pacific Center for Financial Services acquired a new stake in Tractor Supply during the first quarter worth about $26,000. Finally, Private Wealth Management Group LLC acquired a new stake in Tractor Supply during the fourth quarter worth about $27,000. 98.72% of the stock is currently 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.