Tractor Supply (NASDAQ:TSCO) Receives Average Rating of "Moderate Buy" from Brokerages

Tractor Supply (NASDAQ:TSCO) has been rated as a "Moderate Buy" by a consensus of twenty-two brokerages monitoring the company, according to MarketBeat. Among these analysts, two have issued a sell recommendation, eight have assigned a hold, while eleven have given a buy recommendation. Additionally, one analyst has designated the stock as a strong buy. The average price target for Tractor Supply over the next year is estimated to be $272.50.

Recent analyses have been conducted by various research firms. On October 17th, Robert W. Baird set a target price of $320.00 for Tractor Supply shares. Loop Capital raised their target price to $260.00 from $250.00 and categorized the stock with a hold rating on September 6th. Benchmark reiterated a buy recommendation with a target price of $280.00 on Monday. Furthermore, on October 11th, Wells Fargo raised its target price to $325.00, rating the stock as overweight. Lastly, Truist Financial increased its price target from $293.00 to $325.00, also classifying the stock as a buy on October 14th.

Insider Transactions

In terms of insider trading, SVP Matthew L. Rubin sold 540 shares of Tractor Supply on August 12th at an average price of $262.35, amounting to a transaction of $141,669.00. Post-transaction, he owns 5,170 shares valued at approximately $1,356,349.50, indicating no change in his ownership percentage. Another significant transaction occurred when CFO Kurt D. Barton sold 23,532 shares on October 1st at an average price of $295.64, totaling around $6,957,000.48. After this sale, Barton holds 9,683 shares, valued at about $2,862,682.12.

Institutional Investment Changes

Recent adjustments from institutional investors include Assenagon Asset Management S.A., which increased their holdings in Tractor Supply by 527.7% during the second quarter, now owning 26,501 shares valued at $7,155,000. Ballentine Partners LLC raised their holdings by 2.1%, totaling 4,504 shares worth $1,216,000. Other notable investors include Janney Montgomery Scott LLC, which acquired an additional 4,788 shares, raising their total holdings to 143,749 shares valued at $37,622,000. Clearbridge Investments LLC and Price T Rowe Associates Inc. MD also increased their investments significantly, indicating strong institutional confidence in Tractor Supply. 98.72% of the company's stock is currently held by institutional investors.

Tractor Supply Stock Overview

As of last Friday, Tractor Supply's stock opened at $274.29, with a 52-week low of $185.00 and a 52-week high of $307.64. The company has a market capitalization of $29.59 billion and exhibits a price-to-earnings ratio of 26.45. Recent earnings indicate that Tractor Supply reported $3.93 earnings per share for the last quarter, consistent with analyst expectations. The company generated $4.25 billion in revenue for the quarter, reflecting a 1.6% year-over-year increase.

Dividend Information

Tractor Supply announced a quarterly dividend of $1.10 per share, which was paid on September 10th to shareholders of record from August 26th. This results in an annualized dividend of $4.40 and a yield of 1.60% with a payout ratio of 42.43%.

About Tractor Supply

The Tractor Supply Company operates as a prominent rural lifestyle retailer in the United States, providing a wide range of merchandise that includes livestock and equine feed, pet supplies, seasonal products, tools, and clothing.

Tractor, Stock, Analysts