Truist Financial Lowers Tractor Supply (NASDAQ:TSCO) Price Target to $317.00

Tractor Supply (NASDAQ:TSCO) had its price target reduced by Truist Financial from $325.00 to $317.00 in a research note released on Friday, Benzinga reports. They currently have a buy rating on the specialty retailer’s stock.

Other research analysts have also recently issued reports about the company. Wedbush reaffirmed a “neutral” rating and set a $270.00 price objective on shares of Tractor Supply in a research report on Friday, July 26th. Benchmark reiterated a “buy” rating and issued a $280.00 price target on shares of Tractor Supply in a research note on Monday, October 21st. Piper Sandler boosted their price objective 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. Melius Research started coverage on shares of Tractor Supply in a research report on Monday, September 23rd. They issued a “buy” rating and a $315.00 target price on the stock. Finally, Evercore ISI cut shares of Tractor Supply from an “outperform” rating to an “in-line” rating and set a $300.00 price target for the company. in a research report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $279.00.

Tractor Supply Price Performance

Shares of TSCO opened at $269.99 on Friday. The firm has a market capitalization of $29.12 billion, a price-to-earnings ratio of 26.26, a PEG ratio of 3.42 and a beta of 0.80. The firm’s fifty day simple moving average is $282.36 and its 200-day simple moving average is $273.47. Tractor Supply has a twelve month low of $186.06 and a twelve month high of $307.64. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were issued a $1.10 dividend. The ex-dividend date was Monday, August 26th. This represents a $4.40 annualized dividend and a dividend yield of 1.63%. Tractor Supply’s dividend payout ratio is currently 42.80%.

Insider Buying and Selling

In other news, CFO Kurt D. Barton sold 23,532 shares of the stock in a transaction dated 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Tractor Supply 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 value of $141,669.00. Following the sale, the senior vice president now owns 5,170 shares of the company’s stock, valued at approximately $1,356,349.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kurt D. Barton sold 23,532 shares of Tractor Supply stock in a transaction 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 transaction, the chief financial officer now directly owns 9,683 shares of the company’s stock, valued at $2,862,682.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tractor Supply

Several hedge funds have recently added to or reduced their stakes in TSCO. Stephens Inc. AR grew its position in shares of Tractor Supply by 7.4% in the third quarter. Stephens Inc. AR now owns 33,750 shares of the specialty retailer’s stock valued at $9,819,000 after purchasing an additional 2,323 shares during the last quarter. Lincluden Management Ltd. grew its holdings in Tractor Supply by 1.3% during the 3rd quarter. Lincluden Management Ltd. now owns 12,526 shares of the specialty retailer’s stock valued at $3,644,000 after buying an additional 164 shares during the last quarter. Stephens Investment Management Group LLC grew its holdings in Tractor Supply by 1.5% during the 3rd quarter. Stephens Investment Management Group LLC now owns 155,988 shares of the specialty retailer’s stock valued at $45,382,000 after buying an additional 2,376 shares during the last quarter. Congress Asset Management Co. increased its position in Tractor Supply by 4.1% during the third quarter. Congress Asset Management Co. now owns 179,458 shares of the specialty retailer’s stock worth $52,210,000 after buying an additional 7,110 shares in the last quarter. Finally, Palumbo Wealth Management LLC raised its holdings in shares of Tractor Supply by 3.1% in the third quarter. Palumbo Wealth Management LLC now owns 6,954 shares of the specialty retailer’s stock worth $2,023,000 after acquiring an additional 209 shares during the last quarter. 98.72% of the stock is currently owned by hedge funds and other 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.