Tractor Supply (NASDAQ:TSCO) Price Target Raised to $59.00

Tractor Supply (NASDAQ:TSCO) had its price objective increased by JPMorgan Chase & Co. from $58.00 to $59.00 in a research note released on Friday,Benzinga reports. They currently have a neutral rating on the specialty retailer’s stock.

Several other research analysts also recently weighed in on TSCO. Loop Capital upped their price objective on shares of Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a report on Thursday, December 12th. Wells Fargo & Company lowered their target price on shares of Tractor Supply from $65.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Wedbush reiterated a “neutral” rating and issued a $54.00 target price on shares of Tractor Supply in a report on Friday, October 25th. Telsey Advisory Group reiterated an “outperform” rating and issued a $67.00 target price on shares of Tractor Supply in a report on Thursday. Finally, Mizuho increased their target price on shares of Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $59.22.

Tractor Supply Stock Performance

TSCO opened at $54.36 on Friday. The company has a current ratio of 1.48, a quick ratio of 0.17 and a debt-to-equity ratio of 0.81. The company’s fifty day moving average price is $55.24 and its two-hundred day moving average price is $55.22. Tractor Supply has a 1-year low of $44.35 and a 1-year high of $61.53. The company has a market cap of $29.04 billion, a price-to-earnings ratio of 26.44, a PEG ratio of 3.29 and a beta of 0.84.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share for the quarter, missing the consensus estimate of $2.28 by ($1.84). Tractor Supply had a return on equity of 50.19% and a net margin of 7.53%. On average, analysts expect that Tractor Supply will post 2.05 EPS for the current fiscal year.

Tractor Supply Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were given a dividend of $0.22 per share. The ex-dividend date was Monday, November 25th. This represents a $0.88 dividend on an annualized basis and a yield of 1.62%. Tractor Supply’s dividend payout ratio is presently 42.80%.

Hedge Funds Weigh In On Tractor Supply

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TSCO. Silvant Capital Management LLC boosted its position in shares of 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 acquiring an additional 2,556 shares during the period. Blueshift Asset Management LLC boosted its position in shares of Tractor Supply by 32.7% in the third quarter. Blueshift Asset Management LLC now owns 9,945 shares of the specialty retailer’s stock valued at $2,893,000 after acquiring an additional 2,452 shares during the period. Sanctuary Advisors LLC bought a new position in shares of Tractor Supply in the second quarter valued at approximately $13,353,000. Allspring Global Investments Holdings LLC boosted its position in shares of Tractor Supply by 48.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 9,801 shares of the specialty retailer’s stock valued at $2,851,000 after acquiring an additional 3,182 shares during the period. Finally, Mutual of America Capital Management LLC boosted its position in shares of Tractor Supply by 16.5% in the third quarter. Mutual of America Capital Management LLC now owns 27,336 shares of the specialty retailer’s stock valued at $7,953,000 after acquiring an additional 3,863 shares during the period. 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.