Tractor Supply (NASDAQ:TSCO) Price Target Cut to $275.00 by Analysts at Evercore ISI

Tractor Supply (NASDAQ:TSCO) had its target price reduced by Evercore ISI from $280.00 to $275.00 in a research note published on Tuesday, Benzinga reports. Evercore ISI currently has an outperform rating on the specialty retailer’s stock.

A number of other analysts have also recently commented on TSCO. Stephens cut Tractor Supply from an overweight rating to an equal weight rating and lifted their price objective for the stock from $226.00 to $240.00 in a research report on Tuesday, January 23rd. Mizuho assumed coverage on Tractor Supply in a research note on Tuesday, March 19th. They issued a neutral rating and a $245.00 price target on the stock. Benchmark reissued a buy rating and issued a $256.00 price target on shares of Tractor Supply in a research note on Wednesday, April 3rd. Raymond James lowered Tractor Supply from a strong-buy rating to an outperform rating and raised their price target for the stock from $230.00 to $250.00 in a research note on Friday, February 2nd. Finally, The Goldman Sachs Group raised their price target on Tractor Supply from $230.00 to $262.00 and gave the stock a buy rating in a research note on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $241.65.

Tractor Supply Trading Up 2.2 %

Tractor Supply stock opened at $252.79 on Tuesday. The stock has a market cap of $27.28 billion, a PE ratio of 25.05, a P/E/G ratio of 3.72 and a beta of 0.84. The stock has a 50-day moving average price of $249.89 and a 200 day moving average price of $224.62. Tractor Supply has a 52 week low of $185.00 and a 52 week high of $268.02. The company has a current ratio of 1.50, a quick ratio of 0.28 and a debt-to-equity ratio of 0.82.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data on Thursday, February 1st. The specialty retailer reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.06. The firm had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.67 billion. Tractor Supply had a return on equity of 53.60% and a net margin of 7.61%. The firm’s quarterly revenue was down 8.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.43 EPS. Equities research analysts predict that Tractor Supply will post 10.19 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were given a dividend of $1.10 per share. This is a positive change from Tractor Supply’s previous quarterly dividend of $1.03. This represents a $4.40 annualized dividend and a dividend yield of 1.74%. The ex-dividend date was Friday, February 23rd. Tractor Supply’s dividend payout ratio is currently 43.61%.

Insider Activity at Tractor Supply

In related news, EVP Robert D. Mills sold 48,334 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $232.23, for a total transaction of $11,224,604.82. Following the completion of the transaction, the executive vice president now directly owns 22,167 shares in the company, valued at approximately $5,147,842.41. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, EVP Robert D. Mills sold 48,334 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $232.23, for a total transaction of $11,224,604.82. Following the completion of the transaction, the executive vice president now directly owns 22,167 shares in the company, valued at approximately $5,147,842.41. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Colin Yankee sold 8,675 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $250.00, for a total value of $2,168,750.00. Following the transaction, the executive vice president now owns 9,673 shares of the company’s stock, valued at $2,418,250. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 90,090 shares of company stock valued at $21,201,877. Corporate insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Tractor Supply by 0.4% during the first quarter. Vanguard Group Inc. now owns 12,833,541 shares of the specialty retailer’s stock valued at $2,994,964,000 after purchasing an additional 46,672 shares during the last quarter. Capital International Investors lifted its holdings in shares of Tractor Supply by 7.6% during 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 during the last quarter. Capital World Investors lifted its holdings in shares of Tractor Supply by 10.0% during the fourth quarter. Capital World Investors now owns 5,849,188 shares of the specialty retailer’s stock valued at $1,257,751,000 after purchasing an additional 531,170 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Tractor Supply by 63.2% during the fourth quarter. Wellington Management Group LLP now owns 4,606,455 shares of the specialty retailer’s stock valued at $990,526,000 after purchasing an additional 1,784,304 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Tractor Supply by 0.8% during the first quarter. State Street Corp now owns 4,459,754 shares of the specialty retailer’s stock valued at $1,048,209,000 after purchasing an additional 34,281 shares during the last quarter. 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.