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

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

A number of other equities analysts also recently weighed in on the stock. Raymond James upped their price target on shares of Tractor Supply from $57.00 to $58.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. DA Davidson upped their target price on Tractor Supply from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Robert W. Baird set a $64.00 price target on Tractor Supply in a research note on Thursday, October 17th. UBS Group boosted their target price on shares of Tractor Supply from $54.40 to $56.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Finally, Truist Financial reduced their price objective on shares of Tractor Supply from $65.00 to $63.40 and set a “buy” rating for the company in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Tractor Supply presently has a consensus rating of “Moderate Buy” and an average price target of $57.96.

Tractor Supply Stock Performance

TSCO stock opened at $53.06 on Monday. The firm has a 50 day simple moving average of $55.35 and a 200 day simple moving average of $55.11. Tractor Supply has a 52 week low of $42.35 and a 52 week high of $61.53. The stock has a market cap of $28.34 billion, a P/E ratio of 5.16, a P/E/G ratio of 3.58 and a beta of 0.83. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.17 and a current ratio of 1.48.

Tractor Supply Cuts Dividend

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

Institutional Trading of Tractor Supply

Several hedge funds have recently modified their holdings of TSCO. Henrickson Nauta Wealth Advisors Inc. grew its position in Tractor Supply by 3.2% during the 3rd quarter. Henrickson Nauta Wealth Advisors Inc. now owns 1,127 shares of the specialty retailer’s stock worth $328,000 after acquiring an additional 35 shares during the last quarter. Private Advisor Group LLC grew its holdings in shares of Tractor Supply by 0.5% during the third quarter. Private Advisor Group LLC now owns 7,693 shares of the specialty retailer’s stock worth $2,238,000 after purchasing an additional 37 shares during the last quarter. Baldwin Investment Management LLC increased its stake in shares of Tractor Supply by 0.3% in the third quarter. Baldwin Investment Management LLC now owns 11,402 shares of the specialty retailer’s stock valued at $3,317,000 after buying an additional 38 shares in the last quarter. X Square Capital LLC increased its stake in shares of Tractor Supply by 1.6% in the second quarter. X Square Capital LLC now owns 2,579 shares of the specialty retailer’s stock valued at $696,000 after buying an additional 41 shares in the last quarter. Finally, TCI Wealth Advisors Inc. raised its holdings in shares of Tractor Supply by 5.1% in the third quarter. TCI Wealth Advisors Inc. now owns 846 shares of the specialty retailer’s stock valued at $246,000 after buying an additional 41 shares during the last quarter. Institutional investors and hedge funds 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.