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

Tractor Supply (NASDAQ:TSCO) had its target price lowered by Truist Financial from $325.00 to $317.00 in a research report report published on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the specialty retailer’s stock.

A number of other brokerages have also recently weighed in on TSCO. Evercore ISI cut shares of Tractor Supply from an “outperform” rating to an “in-line” rating and set a $300.00 price objective on the stock. in a report on Thursday, October 3rd. Melius Research assumed coverage on Tractor Supply in a research report on Monday, September 23rd. They set a “buy” rating and a $315.00 price objective for the company. UBS Group raised Tractor Supply from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. JPMorgan Chase & Co. raised their price target on Tractor Supply from $260.00 to $290.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Finally, Piper Sandler upped their price target 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 investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $277.70.

Tractor Supply Price Performance

Shares of TSCO stock opened at $272.77 on Friday. The business’s fifty day moving average is $282.24 and its 200 day moving average is $273.33. The company has a quick ratio of 0.25, a current ratio of 1.43 and a debt-to-equity ratio of 0.76. The stock has a market cap of $29.41 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 3.66 and a beta of 0.80. Tractor Supply has a twelve month low of $185.00 and a twelve month high of $307.64.

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

Tractor Supply Announces Dividend

The company also recently disclosed 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. This represents a $4.40 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Monday, August 26th. Tractor Supply’s dividend payout ratio (DPR) is presently 42.84%.

Insiders Place Their Bets

In other news, SVP Matthew L. Rubin sold 540 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were 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 owns 5,170 shares of the company’s stock, valued at $1,356,349.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed 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 stock in a transaction that occurred on 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 in the company, valued at approximately $2,862,682.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Matthew L. Rubin sold 540 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $262.35, for a total transaction of $141,669.00. Following the sale, 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. Insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On Tractor Supply

Institutional investors and hedge funds have recently bought and sold shares of the stock. Future Financial Wealth Managment LLC purchased a new position in shares of Tractor Supply during the 1st quarter valued at about $26,000. LRI Investments LLC bought a new stake in Tractor Supply during the 1st quarter worth approximately $28,000. Whittier Trust Co. lifted its holdings in Tractor Supply by 60.9% during the second quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock valued at $30,000 after purchasing an additional 42 shares in the last quarter. J.Safra Asset Management Corp boosted its position in shares of Tractor Supply by 700.0% in the first quarter. J.Safra Asset Management Corp now owns 112 shares of the specialty retailer’s stock worth $29,000 after purchasing an additional 98 shares during the period. Finally, OFI Invest Asset Management purchased a new stake in shares of Tractor Supply in the second quarter worth $33,000. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

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.