Loop Capital Raises Tractor Supply (NASDAQ:TSCO) Price Target to $260.00

Tractor Supply (NASDAQ:TSCO) had its target price boosted by Loop Capital from $250.00 to $260.00 in a research report report published on Friday morning, Benzinga reports. Loop Capital currently has a hold rating on the specialty retailer’s stock.

A number of other equities analysts also recently issued reports on the company. Wedbush reaffirmed a neutral rating and issued a $270.00 price target on shares of Tractor Supply in a report on Friday, July 26th. Evercore ISI dropped their price target on Tractor Supply from $290.00 to $280.00 and set an outperform rating for the company in a research report on Friday, July 26th. Truist Financial upped their price objective on shares of Tractor Supply from $289.00 to $293.00 and gave the company a buy rating in a research note on Friday, July 26th. Telsey Advisory Group reissued an outperform rating and issued a $305.00 price objective on shares of Tractor Supply in a research report on Thursday, July 25th. Finally, Benchmark restated a buy rating and set a $280.00 price objective on shares of Tractor Supply in a research note on Friday, July 26th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and an average price target of $256.72.

Tractor Supply Stock Down 0.1 %

NASDAQ TSCO opened at $270.59 on Friday. The company has a market cap of $29.19 billion, a P/E ratio of 26.35, a P/E/G ratio of 3.42 and a beta of 0.80. The business has a fifty day moving average price of $265.32 and a 200 day moving average price of $264.92. Tractor Supply has a one year low of $185.00 and a one year high of $290.38. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.25 and a current ratio of 1.43.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, July 25th. The specialty retailer reported $3.93 EPS for the quarter, meeting the consensus estimate of $3.93. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. The business had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same quarter in the prior year, the company posted $3.83 EPS. The company’s quarterly revenue was up 1.6% on a year-over-year basis. Research analysts anticipate that Tractor Supply will post 10.23 EPS for the current fiscal year.

Tractor Supply Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th will be given a $1.10 dividend. The ex-dividend date is Monday, August 26th. This represents a $4.40 annualized dividend and a yield of 1.63%. Tractor Supply’s dividend payout ratio (DPR) is 42.84%.

Insider Buying and Selling at Tractor Supply

In related news, SVP Matthew L. Rubin sold 540 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 5,170 shares of the company’s stock, valued at $1,356,349.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Wellington Management Group LLP grew its position in Tractor Supply by 63.2% in the 4th quarter. Wellington Management Group LLP now owns 4,606,455 shares of the specialty retailer’s stock worth $990,526,000 after purchasing an additional 1,784,304 shares during the last quarter. Norges Bank bought a new stake in shares of Tractor Supply in the fourth quarter worth about $260,560,000. Capital World Investors lifted its position in Tractor Supply by 10.0% in the 4th quarter. Capital World Investors now owns 5,849,188 shares of the specialty retailer’s stock valued at $1,257,751,000 after acquiring an additional 531,170 shares in the last quarter. Capital International Investors grew its position in Tractor Supply by 7.6% in the fourth quarter. Capital International Investors now owns 6,233,852 shares of the specialty retailer’s stock valued at $1,340,589,000 after purchasing an additional 439,954 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Tractor Supply by 12.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,330,621 shares of the specialty retailer’s stock worth $871,691,000 after acquiring an additional 368,859 shares in the last quarter. Institutional investors and hedge funds 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.