Tractor Supply (NASDAQ:TSCO) Given Average Rating of “Moderate Buy” by Brokerages

Tractor Supply (NASDAQ:TSCO) has received an average recommendation of “Moderate Buy” from the twenty-three brokerages that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $282.82.

A number of equities research analysts recently issued reports on the stock. Wedbush reiterated a “neutral” rating and set a $270.00 price objective on shares of Tractor Supply in a research report on Friday, October 25th. Melius Research assumed coverage on shares of Tractor Supply in a research report on Monday, September 23rd. They set a “buy” rating and a $315.00 target price on the stock. Barclays boosted their price objective on Tractor Supply from $240.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. raised their price objective on Tractor Supply from $260.00 to $290.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company lifted their target price on Tractor Supply from $295.00 to $325.00 and gave the stock an “overweight” rating in a report on Friday, October 11th.

Insider Buying and Selling

In related news, CFO Kurt D. Barton sold 23,532 shares of Tractor Supply 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 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 70.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.24% of the stock is owned by insiders.

Institutional Trading of Tractor Supply

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its holdings in shares of Tractor Supply by 3.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,740,864 shares of the specialty retailer’s stock valued at $1,379,260,000 after buying an additional 161,503 shares in the last quarter. State Street Corp boosted its stake in Tractor Supply by 1.1% in the third quarter. State Street Corp now owns 4,518,341 shares of the specialty retailer’s stock valued at $1,314,521,000 after acquiring an additional 47,951 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Tractor Supply by 12.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,330,621 shares of the specialty retailer’s stock valued at $871,691,000 after acquiring an additional 368,859 shares in the last quarter. Geode Capital Management LLC grew its holdings in Tractor Supply by 1.5% in the third quarter. Geode Capital Management LLC now owns 2,885,688 shares of the specialty retailer’s stock worth $837,156,000 after purchasing an additional 43,998 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Tractor Supply by 10.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,123,280 shares of the specialty retailer’s stock worth $303,278,000 after purchasing an additional 110,342 shares in the last quarter. Institutional investors own 98.72% of the company’s stock.

Tractor Supply Price Performance

Shares of Tractor Supply stock opened at $281.71 on Tuesday. The firm has a market cap of $30.10 billion, a PE ratio of 27.40, a PEG ratio of 3.43 and a beta of 0.82. The stock has a 50 day moving average of $284.18 and a 200 day moving average of $275.51. The company has a current ratio of 1.48, a quick ratio of 0.17 and a debt-to-equity ratio of 0.81. Tractor Supply has a 12 month low of $197.00 and a 12 month high of $307.64.

Tractor Supply Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be issued a $1.10 dividend. The ex-dividend date is Monday, November 25th. This represents a $4.40 annualized dividend and a dividend yield of 1.56%. Tractor Supply’s payout ratio is currently 42.80%.

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.