Tractor Supply (NASDAQ:TSCO) Upgraded at Evercore ISI

Evercore ISI upgraded shares of Tractor Supply (NASDAQ:TSCO) from a hold rating to a strong-buy rating in a research note issued to investors on Friday,Zacks.com reports.

TSCO has been the topic of a number of other research reports. Citigroup cut shares of Tractor Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. Barclays upped their price target on shares of Tractor Supply from $240.00 to $250.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Melius Research began coverage on shares of Tractor Supply in a report on Monday, September 23rd. They issued a “buy” rating and a $315.00 target price for the company. Truist Financial dropped their price target on Tractor Supply from $325.00 to $317.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Finally, Wedbush reiterated a “neutral” rating and set a $270.00 target price on shares of Tractor Supply in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $282.82.

Tractor Supply Stock Up 0.4 %

Shares of NASDAQ TSCO opened at $276.82 on Friday. The company has a market cap of $29.58 billion, a price-to-earnings ratio of 26.93, a PEG ratio of 3.46 and a beta of 0.82. The firm’s fifty day moving average is $284.41 and its 200 day moving average is $275.42. Tractor Supply has a 52 week low of $193.73 and a 52 week high of $307.64. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be issued a $1.10 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $4.40 annualized dividend and a dividend yield of 1.59%. Tractor Supply’s dividend payout ratio is currently 42.80%.

Insider Buying and Selling

In other news, CFO Kurt D. Barton sold 23,532 shares of Tractor Supply 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 completion of the sale, the chief financial officer now owns 9,683 shares of the company’s stock, valued at $2,862,682.12. The trade was a 70.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.58% of the stock is currently owned by insiders.

Institutional Trading of Tractor Supply

Several institutional investors and hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its stake in Tractor Supply by 12.5% during the 1st 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 purchasing an additional 368,859 shares in the last quarter. Marshall Wace LLP grew its position in shares of Tractor Supply by 2,921.4% in the second quarter. Marshall Wace LLP now owns 357,225 shares of the specialty retailer’s stock valued at $96,451,000 after purchasing an additional 345,402 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Tractor Supply by 29,058.6% during the third quarter. International Assets Investment Management LLC now owns 233,269 shares of the specialty retailer’s stock worth $67,865,000 after purchasing an additional 232,469 shares during the period. Clearbridge Investments LLC increased its holdings in shares of Tractor Supply by 67.4% in the second quarter. Clearbridge Investments LLC now owns 403,710 shares of the specialty retailer’s stock valued at $109,002,000 after purchasing an additional 162,533 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Tractor Supply by 3.5% in the third quarter. Wellington Management Group LLP now owns 4,740,864 shares of the specialty retailer’s stock valued at $1,379,260,000 after purchasing an additional 161,503 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

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.