Tractor Supply (NASDAQ:TSCO) Upgraded by Mizuho to “Outperform” Rating

Mizuho upgraded shares of Tractor Supply (NASDAQ:TSCO) from a neutral rating to an outperform rating in a research note issued to investors on Monday, Marketbeat.com reports. They currently have $60.00 price objective on the specialty retailer’s stock, up from their prior price objective of $54.00.

Other equities analysts have also recently issued reports about the company. Melius Research began coverage on Tractor Supply in a report on Monday, September 23rd. They issued a “buy” rating and a $63.00 target price on the stock. Barclays dropped their price objective on shares of Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Monday, December 30th. Wells Fargo & Company decreased their target price on shares of Tractor Supply from $65.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Robert W. Baird set a $64.00 target price on shares of Tractor Supply in a report on Thursday, October 17th. Finally, Gordon Haskett downgraded Tractor Supply from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Tractor Supply presently has a consensus rating of “Moderate Buy” and an average price target of $58.25.

Tractor Supply Stock Up 3.3 %

Shares of NASDAQ:TSCO opened at $53.65 on Monday. 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 has a 52-week low of $43.56 and a 52-week high of $61.53. The business’s 50 day simple moving average is $55.24 and its two-hundred day simple moving average is $55.00. The firm has a market cap of $28.66 billion, a P/E ratio of 5.22, a PEG ratio of 3.58 and a beta of 0.84.

Tractor Supply Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend was Monday, November 25th. Tractor Supply’s dividend payout ratio is 42.72%.

Institutional Investors Weigh In On Tractor Supply

Several large investors have recently modified their holdings of TSCO. Wellington Management Group LLP grew its holdings in Tractor Supply by 3.5% during 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 during the period. State Street Corp grew its stake in shares of Tractor Supply by 1.1% during the 3rd 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 during the period. Geode Capital Management LLC increased its holdings in Tractor Supply by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,885,688 shares of the specialty retailer’s stock worth $837,156,000 after acquiring an additional 43,998 shares during the last quarter. Dimensional Fund Advisors LP raised 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 valued at $303,278,000 after acquiring an additional 110,342 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Tractor Supply by 3.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 830,193 shares of the specialty retailer’s stock valued at $241,528,000 after purchasing an additional 29,730 shares during the last quarter. Hedge funds and other institutional investors 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.