Barclays Cuts Tractor Supply (NASDAQ:TSCO) Price Target to $52.00

Tractor Supply (NASDAQ:TSCO) had its price objective lowered by Barclays from $262.00 to $52.00 in a report issued on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the specialty retailer’s stock.

TSCO has been the topic of a number of other research reports. Evercore ISI raised shares of Tractor Supply from a “hold” rating to a “strong-buy” rating in a report on Friday, November 15th. Robert W. Baird set a $64.00 price target on shares of Tractor Supply in a research note on Thursday, October 17th. Melius Research started coverage on Tractor Supply in a research report on Monday, September 23rd. They set a “buy” rating and a $63.00 price objective for the company. Wedbush restated a “neutral” rating and issued a $54.00 target price on shares of Tractor Supply in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. boosted their price target on Tractor Supply from $52.00 to $58.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Tractor Supply currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.96.

Tractor Supply Price Performance

Shares of NASDAQ TSCO opened at $53.06 on Monday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.48 and a quick ratio of 0.17. The firm has a market capitalization of $28.34 billion, a PE ratio of 5.16, a P/E/G ratio of 3.58 and a beta of 0.83. Tractor Supply has a 1-year low of $42.35 and a 1-year high of $61.53. The business’s fifty day moving average price is $55.35 and its two-hundred day moving average price is $55.11.

Tractor Supply Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend was Monday, November 25th. Tractor Supply’s payout ratio is 42.72%.

Institutional Investors Weigh In On Tractor Supply

Hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP raised its holdings in Tractor Supply by 3.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,740,864 shares of the specialty retailer’s stock worth $1,379,260,000 after buying an additional 161,503 shares during the period. State Street Corp increased its position in shares of Tractor Supply by 1.1% in the third quarter. State Street Corp now owns 4,518,341 shares of the specialty retailer’s stock worth $1,314,521,000 after acquiring an additional 47,951 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Tractor Supply by 1.5% during the third quarter. Geode Capital Management LLC now owns 2,885,688 shares of the specialty retailer’s stock valued at $837,156,000 after acquiring an additional 43,998 shares during the period. Dimensional Fund Advisors LP boosted its stake in Tractor Supply by 10.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,123,280 shares of the specialty retailer’s stock worth $303,278,000 after purchasing an additional 110,342 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in Tractor Supply by 3.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 830,193 shares of the specialty retailer’s stock worth $241,528,000 after purchasing an additional 29,730 shares in the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

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.