Wells Fargo & Company Cuts Tractor Supply (NASDAQ:TSCO) Price Target to $35.00

Tractor Supply (NASDAQ:TSCO) had its target price lowered by Wells Fargo & Company from $47.00 to $35.00 in a research note issued to investors on Wednesday morning, MarketBeat.com reports. Wells Fargo & Company currently has an overweight rating on the specialty retailer’s stock.

Other research analysts also recently issued research reports about the company. Guggenheim restated a “buy” rating and set a $50.00 price target (down from $60.00) on shares of Tractor Supply in a research note on Friday, June 5th. Bank of America assumed coverage on Tractor Supply in a research note on Tuesday, April 7th. They issued a “neutral” rating and a $47.00 price objective for the company. DA Davidson decreased their price objective on Tractor Supply from $50.00 to $40.00 and set a “buy” rating for the company in a report on Monday, June 22nd. Wall Street Zen lowered shares of Tractor Supply from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Finally, Weiss Ratings lowered shares of Tractor Supply from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 8th. Thirteen investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Tractor Supply presently has a consensus rating of “Hold” and an average price target of $41.73.

Tractor Supply Stock Performance

NASDAQ TSCO opened at $30.51 on Wednesday. The company has a fifty day moving average of $30.65 and a two-hundred day moving average of $41.94. The company has a market capitalization of $16.00 billion, a PE ratio of 14.96, a P/E/G ratio of 2.36 and a beta of 0.46. Tractor Supply has a 1 year low of $28.36 and a 1 year high of $63.99. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.38 and a quick ratio of 0.16.

Tractor Supply (NASDAQ:TSCO) last posted its earnings results on Tuesday, April 21st. The specialty retailer reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.04). Tractor Supply had a return on equity of 42.58% and a net margin of 6.91%.The firm had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same quarter last year, the firm posted $0.34 EPS. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. Tractor Supply has set its FY 2026 guidance at 2.130-2.230 EPS. As a group, analysts expect that Tractor Supply will post 2.1 earnings per share for the current year.

Tractor Supply Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were given a $0.24 dividend. The ex-dividend date was Wednesday, May 27th. This represents a $0.96 dividend on an annualized basis and a yield of 3.1%. Tractor Supply’s dividend payout ratio (DPR) is presently 47.06%.

Hedge Funds Weigh In On Tractor Supply

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Garner Asset Management Corp acquired a new stake in shares of Tractor Supply in the 4th quarter valued at approximately $25,000. Elevation Wealth Partners LLC grew its holdings in Tractor Supply by 1,253.4% during the second quarter. Elevation Wealth Partners LLC now owns 785 shares of the specialty retailer’s stock worth $25,000 after acquiring an additional 727 shares during the period. Reflection Asset Management acquired a new position in Tractor Supply during the fourth quarter worth $26,000. Aventura Private Wealth LLC purchased a new position in Tractor Supply in the fourth quarter worth $27,000. Finally, Core Wealth Advisors LLC purchased a new position in Tractor Supply in the fourth quarter worth $27,000. Institutional investors and hedge funds own 98.72% of the company’s stock.

About Tractor Supply

Tractor Supply Company (NASDAQ: TSCO) is a specialty retailer focused on products for the home, farm, ranch and outdoors. The company operates a network of physical retail locations complemented by an e-commerce platform, offering a one-stop source of supplies and equipment for customers with rural and suburban lifestyles. Its merchandise assortment targets a range of needs, from animal and livestock care to maintenance, outdoor power equipment, and seasonal products.

Product categories include animal feed and supplies, pet products, fencing and fencing supplies, equine equipment, lawn and garden tools, work clothing and footwear, and small agricultural and outdoor power equipment.