Tractor Supply (NASDAQ:TSCO) Given New $320.00 Price Target at Wells Fargo & Company

Tractor Supply (NASDAQ:TSCO) had its price objective cut by Wells Fargo & Company from $325.00 to $320.00 in a report published on Monday,Benzinga reports. They currently have an overweight rating on the specialty retailer’s stock.

A number of other analysts have also recently issued reports on TSCO. Benchmark increased their price objective on shares of Tractor Supply from $280.00 to $310.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Melius Research initiated coverage on Tractor Supply in a research note on Monday, September 23rd. They issued a “buy” rating and a $315.00 price target for the company. Loop Capital boosted their price objective on Tractor Supply from $250.00 to $260.00 and gave the company a “hold” rating in a research report on Friday, September 6th. Citigroup cut Tractor Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. Finally, Evercore ISI raised Tractor Supply from a “hold” rating to a “strong-buy” rating in a report on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Tractor Supply currently has a consensus rating of “Moderate Buy” and a consensus price target of $282.59.

Tractor Supply Stock Up 0.6 %

TSCO stock opened at $281.96 on Monday. The business’s 50-day moving average price is $284.43 and its 200-day moving average price is $275.79. The stock has a market cap of $30.12 billion, a P/E ratio of 27.43, a PEG ratio of 3.59 and a beta of 0.82. The company has a quick ratio of 0.17, a current ratio of 1.48 and a debt-to-equity ratio of 0.81. Tractor Supply has a twelve month low of $197.00 and a twelve month high of $307.64.

Tractor Supply Announces Dividend

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

Insider Buying and Selling at Tractor Supply

In other news, CFO Kurt D. Barton sold 23,532 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was 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 owns 9,683 shares of the company’s stock, valued at approximately $2,862,682.12. This represents a 70.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On Tractor Supply

A number of institutional investors and hedge funds have recently modified their holdings of TSCO. Franklin Resources Inc. increased its stake in Tractor Supply by 2.0% in the 3rd quarter. Franklin Resources Inc. now owns 454,175 shares of the specialty retailer’s stock worth $137,950,000 after buying an additional 8,890 shares during the period. Tidal Investments LLC grew its stake in Tractor Supply by 722.5% in the 3rd quarter. Tidal Investments LLC now owns 95,172 shares of the specialty retailer’s stock worth $27,688,000 after acquiring an additional 83,601 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Tractor Supply during the third quarter worth approximately $734,000. Sanctuary Advisors LLC raised its stake in shares of Tractor Supply by 4.4% during the third quarter. Sanctuary Advisors LLC now owns 50,891 shares of the specialty retailer’s stock valued at $14,336,000 after acquiring an additional 2,139 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co boosted its holdings in shares of Tractor Supply by 7.1% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 978 shares of the specialty retailer’s stock valued at $285,000 after purchasing an additional 65 shares during the period. 98.72% of the stock is owned by institutional investors.

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.