Tractor Supply (NASDAQ:TSCO) Given New $52.00 Price Target at Barclays

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

Several other brokerages have also recently weighed in on TSCO. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $67.00 price target on shares of Tractor Supply in a research note on Friday, December 6th. Robert W. Baird set a $64.00 price target on shares of Tractor Supply in a research report on Thursday, October 17th. Gordon Haskett cut shares of Tractor Supply from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, October 24th. Raymond James lifted their target price on shares of Tractor Supply from $57.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Finally, Piper Sandler raised their price objective on Tractor Supply from $60.00 to $66.40 and gave the company an “overweight” rating in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $57.96.

Tractor Supply Stock Performance

Shares of TSCO opened at $52.59 on Monday. The company has a 50-day simple moving average of $55.69 and a two-hundred day simple moving average of $55.18. 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 $28.09 billion, a PE ratio of 5.12, a price-to-earnings-growth ratio of 3.58 and a beta of 0.83. Tractor Supply has a one year low of $42.35 and a one year high of $61.53.

Tractor Supply Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were given a $0.22 dividend. The ex-dividend date was Monday, November 25th. This represents a $0.88 annualized dividend and a yield of 1.67%. Tractor Supply’s payout ratio is presently 42.72%.

Hedge Funds Weigh In On Tractor Supply

Institutional investors have recently bought and sold shares of the stock. Ballentine Partners LLC raised its stake in shares of Tractor Supply by 2.1% in the second quarter. Ballentine Partners LLC now owns 4,504 shares of the specialty retailer’s stock worth $1,216,000 after buying an additional 93 shares during the period. Silvant Capital Management LLC raised its stake in Tractor Supply by 20.9% during the 3rd quarter. Silvant Capital Management LLC now owns 14,781 shares of the specialty retailer’s stock worth $4,300,000 after acquiring an additional 2,556 shares during the period. Blueshift Asset Management LLC lifted its holdings in Tractor Supply by 32.7% during the third quarter. Blueshift Asset Management LLC now owns 9,945 shares of the specialty retailer’s stock valued at $2,893,000 after purchasing an additional 2,452 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of Tractor Supply in the second quarter worth approximately $13,353,000. Finally, Allspring Global Investments Holdings LLC increased its stake 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 worth $2,851,000 after purchasing an additional 3,182 shares in the last quarter. 98.72% of the stock is owned by 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.