Tractor Supply (NASDAQ:TSCO) Receives $284.50 Average Target Price from Brokerages

Tractor Supply (NASDAQ:TSCO) has received an average rating of “Moderate Buy” from the twenty-two analysts that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, eight have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $289.90.

Several research analysts have recently issued reports on TSCO shares. Robert W. Baird set a $320.00 price objective on shares of Tractor Supply in a report on Thursday, October 17th. Wedbush restated a “neutral” rating and set a $270.00 price target on shares of Tractor Supply in a research note on Friday, October 25th. Raymond James raised their price objective on Tractor Supply from $285.00 to $290.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Truist Financial lowered their price objective on Tractor Supply from $325.00 to $317.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Finally, Gordon Haskett cut Tractor Supply from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, October 24th.

Tractor Supply Stock Down 3.1 %

TSCO opened at $276.52 on Friday. Tractor Supply has a 1-year low of $209.00 and a 1-year high of $307.64. The business has a 50 day moving average of $283.88 and a 200-day moving average of $276.08. The stock has a market capitalization of $29.54 billion, a price-to-earnings ratio of 26.90, a P/E/G ratio of 3.58 and a beta of 0.83. 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 shares are going to split on Friday, December 20th. The 5-1 split was announced on Thursday, December 5th. The newly created shares will be payable to shareholders after the market closes on Thursday, December 19th.

Tractor Supply Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were paid a $1.10 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.59%. Tractor Supply’s dividend payout ratio (DPR) is presently 42.80%.

Insider Activity at Tractor Supply

In other Tractor Supply news, CFO Kurt D. Barton sold 23,532 shares of the stock in a transaction on Tuesday, October 1st. The stock was 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 70.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.24% of the stock is currently owned by company insiders.

Institutional Trading of Tractor Supply

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its position in shares of Tractor Supply by 527.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 26,501 shares of the specialty retailer’s stock valued at $7,155,000 after acquiring an additional 22,279 shares during the last quarter. Ballentine Partners LLC increased its holdings in Tractor Supply by 2.1% in the second quarter. Ballentine Partners LLC now owns 4,504 shares of the specialty retailer’s stock valued at $1,216,000 after purchasing an additional 93 shares during the last quarter. Silvant Capital Management LLC lifted its stake in Tractor Supply by 20.9% in the third quarter. Silvant Capital Management LLC now owns 14,781 shares of the specialty retailer’s stock valued at $4,300,000 after buying an additional 2,556 shares during the period. Blueshift Asset Management LLC boosted its holdings in Tractor Supply by 32.7% during the third quarter. Blueshift Asset Management LLC now owns 9,945 shares of the specialty retailer’s stock worth $2,893,000 after buying an additional 2,452 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in shares of Tractor Supply during the 2nd quarter worth about $13,353,000. 98.72% of the stock is currently owned by institutional investors and hedge funds.

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.