Tractor Supply (NASDAQ:TSCO) Hits New 1-Year High Following Analyst Upgrade

Shares of Tractor Supply (NASDAQ:TSCO) hit a new 52-week high during 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.

A number of other analysts have also recently commented on TSCO. Melius Research assumed coverage on shares of Tractor Supply in a research note on Monday, September 23rd. They issued a “buy” rating and a $315.00 price target for the company. Citigroup upgraded shares of Tractor Supply from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. 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 note on Thursday, October 3rd. Loop Capital increased their price objective on shares of Tractor Supply from $250.00 to $260.00 and gave the company a “hold” rating in a research report on Friday, September 6th. Finally, UBS Group raised shares of Tractor Supply from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $268.32.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, CFO Kurt D. Barton sold 23,532 shares of the firm’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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tractor Supply news, SVP Matthew L. Rubin sold 540 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $262.35, for a total value of $141,669.00. Following the transaction, the senior vice president now directly owns 5,170 shares of the company’s stock, valued at $1,356,349.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kurt D. Barton sold 23,532 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $295.64, for a total transaction of $6,957,000.48. Following the completion of the sale, the chief financial officer now owns 9,683 shares in the company, valued at approximately $2,862,682.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On Tractor Supply

A number of hedge funds have recently made changes to their positions in the stock. Creative Planning boosted its stake in shares of Tractor Supply by 2.7% in the 3rd quarter. Creative Planning now owns 32,004 shares of the specialty retailer’s stock valued at $9,311,000 after purchasing an additional 842 shares in the last quarter. Fiduciary Alliance LLC acquired a new stake in shares of Tractor Supply in the 3rd quarter valued at approximately $555,000. Henrickson Nauta Wealth Advisors Inc. boosted its stake in shares of Tractor Supply by 3.2% in the 3rd quarter. Henrickson Nauta Wealth Advisors Inc. now owns 1,127 shares of the specialty retailer’s stock valued at $328,000 after purchasing an additional 35 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Tractor Supply by 24.1% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,893 shares of the specialty retailer’s stock valued at $842,000 after purchasing an additional 562 shares in the last quarter. Finally, Smith Chas P & Associates PA Cpas acquired a new stake in shares of Tractor Supply in the 3rd quarter valued at approximately $201,000. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Tractor Supply Trading Up 0.1 %

The business’s 50 day moving average price is $276.64 and its two-hundred day moving average price is $270.97. The company has a current ratio of 1.43, a quick ratio of 0.25 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $32.75 billion, a price-to-earnings ratio of 29.58, a P/E/G ratio of 3.73 and a beta of 0.80.

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

Tractor Supply Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were given a dividend of $1.10 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $4.40 annualized dividend and a yield of 1.45%. Tractor Supply’s dividend payout ratio 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.