Tractor Supply (NASDAQ:TSCO) Price Target Cut to $320.00 by Analysts at Wells Fargo & Company

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

Other analysts also recently issued reports about the stock. Benchmark lifted their price target on shares of Tractor Supply from $280.00 to $310.00 and gave the company a “buy” rating in a report on Monday, October 28th. UBS Group lifted their price target on shares of Tractor Supply from $272.00 to $280.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Truist Financial reduced their price target on shares of Tractor Supply from $325.00 to $317.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Robert W. Baird set a $320.00 price target on shares of Tractor Supply in a report on Thursday, October 17th. Finally, Raymond James lifted their price target on shares of Tractor Supply from $285.00 to $290.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $282.59.

Tractor Supply Stock Up 1.9 %

Shares of TSCO stock opened at $285.99 on Monday. The company has a market capitalization of $30.56 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 3.53 and a beta of 0.82. Tractor Supply has a one year low of $197.00 and a one year high of $307.64. The company’s fifty day moving average price is $284.23 and its 200-day moving average price is $275.68. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.48 and a quick ratio of 0.17.

Tractor Supply Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be issued a $1.10 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $4.40 annualized dividend and a dividend yield of 1.54%. Tractor Supply’s dividend payout ratio is currently 42.80%.

Insider Activity

In related news, CFO Kurt D. Barton sold 23,532 shares of the business’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 transaction, the chief financial officer now owns 9,683 shares in the company, valued at $2,862,682.12. The trade was a 70.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Future Financial Wealth Managment LLC bought a new position in shares of Tractor Supply during the 3rd quarter worth approximately $29,000. First Personal Financial Services purchased a new stake in Tractor Supply during the 3rd quarter worth approximately $29,000. LRI Investments LLC purchased a new stake in Tractor Supply during the 1st quarter worth approximately $28,000. Whittier Trust Co. grew its position in Tractor Supply by 60.9% during the 2nd quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock worth $30,000 after purchasing an additional 42 shares during the last quarter. Finally, Providence Capital Advisors LLC purchased a new stake in Tractor Supply during the 3rd quarter worth approximately $32,000. Institutional investors own 98.72% of the company’s stock.

About Tractor Supply

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.