Wells Fargo & Company Lowers Tractor Supply (NASDAQ:TSCO) Price Target to $320.00

Tractor Supply (NASDAQ:TSCO) had its price target trimmed by Wells Fargo & Company from $325.00 to $320.00 in a report published on Monday,Benzinga reports. The firm currently has an overweight rating on the specialty retailer’s stock.

A number of other equities research analysts have also weighed in on TSCO. Wedbush reiterated a “neutral” rating and set a $270.00 target price on shares of Tractor Supply in a research note on Friday, October 25th. Citigroup cut Tractor Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. Truist Financial cut their price target on Tractor Supply from $325.00 to $317.00 and set a “buy” rating for the company in a report on Friday, October 25th. Evercore ISI upgraded Tractor Supply from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 15th. Finally, Piper Sandler raised their price objective on shares of Tractor Supply from $300.00 to $332.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $282.59.

Tractor Supply Trading Up 0.6 %

NASDAQ:TSCO opened at $281.96 on Monday. Tractor Supply has a 52 week low of $197.00 and a 52 week high of $307.64. The company’s 50 day moving average price is $284.30 and its 200-day moving average price is $275.74. The company has a quick ratio of 0.17, a current ratio of 1.48 and a debt-to-equity ratio of 0.81. The stock has a market cap of $30.12 billion, a price-to-earnings ratio of 27.51, a PEG ratio of 3.59 and a beta of 0.82.

Tractor Supply Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be given 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 is presently 42.80%.

Insider Activity

In related news, CFO Kurt D. Barton sold 23,532 shares of the company’s 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 sale, the chief financial officer now 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.58% of the company’s stock.

Institutional Trading of Tractor Supply

Institutional investors and hedge funds have recently bought and sold shares of the stock. Henrickson Nauta Wealth Advisors Inc. grew its holdings in Tractor Supply by 3.2% during the 3rd quarter. Henrickson Nauta Wealth Advisors Inc. now owns 1,127 shares of the specialty retailer’s stock worth $328,000 after acquiring an additional 35 shares in the last quarter. Private Advisor Group LLC increased its holdings in shares of Tractor Supply by 0.5% in the third quarter. Private Advisor Group LLC now owns 7,693 shares of the specialty retailer’s stock valued at $2,238,000 after purchasing an additional 37 shares during the period. Signature Wealth Management Group lifted its stake in shares of Tractor Supply by 0.5% in the 2nd quarter. Signature Wealth Management Group now owns 6,999 shares of the specialty retailer’s stock worth $1,890,000 after acquiring an additional 38 shares during the period. Baldwin Investment Management LLC lifted its holdings in shares of Tractor Supply by 0.3% in the 3rd quarter. Baldwin Investment Management LLC now owns 11,402 shares of the specialty retailer’s stock valued at $3,317,000 after buying an additional 38 shares during the period. Finally, X Square Capital LLC lifted its holdings 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 valued at $696,000 after acquiring an additional 41 shares during the period. 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.