Tractor Supply (NASDAQ:TSCO) Upgraded at Mizuho

Mizuho upgraded shares of Tractor Supply (NASDAQ:TSCO) from a neutral rating to an outperform rating in a report issued on Monday morning, Marketbeat Ratings reports. Mizuho currently has $60.00 target price on the specialty retailer’s stock, up from their previous target price of $54.00.

Other research analysts also recently issued research reports about the stock. Citigroup downgraded shares of Tractor Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. Melius Research initiated coverage on shares of Tractor Supply in a research report on Monday, September 23rd. They set a “buy” rating and a $63.00 price objective on the stock. Barclays decreased their target price on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a research report on Monday, December 30th. Telsey Advisory Group reiterated an “outperform” rating and issued a $67.00 price target on shares of Tractor Supply in a report on Friday, December 6th. Finally, UBS Group upped their target price on Tractor Supply from $54.40 to $56.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $58.25.

Tractor Supply Price Performance

TSCO stock opened at $54.39 on Monday. The company has a quick ratio of 0.17, a current ratio of 1.48 and a debt-to-equity ratio of 0.81. The firm has a market cap of $29.05 billion, a price-to-earnings ratio of 5.29, a PEG ratio of 3.58 and a beta of 0.84. The company’s fifty day simple moving average is $55.26 and its 200 day simple moving average is $54.97. Tractor Supply has a 12-month low of $43.83 and a 12-month high of $61.53.

Tractor Supply Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date was Monday, November 25th. Tractor Supply’s payout ratio is 42.72%.

Institutional Investors Weigh In On Tractor Supply

Several large investors have recently modified their holdings of TSCO. Ballentine Partners LLC increased its position in 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 last quarter. Silvant Capital Management LLC grew its stake in shares of 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 increased its holdings in Tractor Supply by 32.7% in the 3rd quarter. Blueshift Asset Management LLC now owns 9,945 shares of the specialty retailer’s stock worth $2,893,000 after acquiring an additional 2,452 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in Tractor Supply in the 2nd quarter valued at about $13,353,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Tractor Supply by 48.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 9,801 shares of the specialty retailer’s stock valued at $2,851,000 after purchasing an additional 3,182 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.