Tractor Supply (NASDAQ:TSCO) Sets New 12-Month High After Analyst Upgrade

Tractor Supply (NASDAQ:TSCO) shares reached a new 52-week high during mid-day trading on Monday after Truist Financial raised their price target on the stock from $293.00 to $325.00. Truist Financial currently has a buy rating on the stock. Tractor Supply traded as high as $306.38 and last traded at $304.30, with a volume of 193943 shares trading hands. The stock had previously closed at $303.37.

TSCO has been the topic of a number of other research reports. Telsey Advisory Group reiterated an “outperform” rating and set a $305.00 target price on shares of Tractor Supply in a research note on Thursday, July 25th. Benchmark reiterated a “buy” rating and set a $280.00 target price on shares of Tractor Supply in a research note on Monday, September 30th. Loop Capital increased their target price on Tractor Supply from $250.00 to $260.00 and gave the stock a “hold” rating in a research note on Friday, September 6th. Piper Sandler increased their target price on Tractor Supply from $300.00 to $332.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, UBS Group upgraded Tractor Supply from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $268.32.

Insider Buying and Selling

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

Hedge Funds Weigh In On Tractor Supply

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Tractor Supply by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 12,804,873 shares of the specialty retailer’s stock valued at $2,753,432,000 after purchasing an additional 48,439 shares during the period. Quadrature Capital Ltd acquired a new position in Tractor Supply during the 4th quarter worth about $1,465,000. HighPoint Advisor Group LLC acquired a new position in Tractor Supply during the 4th quarter worth about $510,000. Nomura Holdings Inc. acquired a new position in Tractor Supply during the 4th quarter worth about $468,000. Finally, GAMMA Investing LLC lifted its holdings in Tractor Supply by 42.4% during the 1st quarter. GAMMA Investing LLC now owns 1,158 shares of the specialty retailer’s stock worth $303,000 after buying an additional 345 shares during the period. Institutional investors and hedge funds own 98.72% of the company’s stock.

Tractor Supply Price Performance

The stock has a market capitalization of $32.43 billion, a price-to-earnings ratio of 29.29, a P/E/G ratio of 3.73 and a beta of 0.80. The company has a fifty day simple moving average of $277.45 and a 200 day simple moving average of $271.25. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.25 and a current ratio of 1.43.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Thursday, July 25th. The specialty retailer reported $3.93 EPS for the quarter, hitting the consensus estimate of $3.93. The firm had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.28 billion. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $3.83 EPS. Equities research analysts forecast that Tractor Supply will post 10.23 EPS for the current fiscal year.

Tractor Supply Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were given a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend was Monday, August 26th. Tractor Supply’s dividend payout ratio (DPR) is presently 42.84%.

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.