Mizuho Issues Positive Forecast for Tractor Supply (NASDAQ:TSCO) Stock Price

Tractor Supply (NASDAQ:TSCO) had its price target hoisted by Mizuho from $60.00 to $62.00 in a report issued on Thursday,Benzinga reports. They currently have an outperform rating on the specialty retailer’s stock.

Several other analysts have also recently issued reports on TSCO. Barclays lowered their price objective on shares of Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a research note on Monday, December 30th. Citigroup lowered Tractor Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 17th. Wedbush reiterated a “neutral” rating and set a $54.00 target price on shares of Tractor Supply in a report on Friday, October 25th. Benchmark raised their price target on shares of Tractor Supply from $56.00 to $62.00 and gave the company a “buy” rating in a report on Monday, October 28th. Finally, Wells Fargo & Company reduced their price target on shares of Tractor Supply from $65.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Two analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $58.58.

Tractor Supply Price Performance

TSCO opened at $57.38 on Thursday. Tractor Supply has a 1 year low of $44.35 and a 1 year high of $61.53. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.17 and a current ratio of 1.48. The company’s 50 day simple moving average is $55.06 and its 200 day simple moving average is $55.07. The stock has a market capitalization of $30.65 billion, a PE ratio of 27.91, a P/E/G ratio of 3.31 and a beta of 0.84.

Tractor Supply Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, November 25th. This represents a $0.88 annualized dividend and a yield of 1.53%. Tractor Supply’s dividend payout ratio is presently 42.80%.

Hedge Funds Weigh In On Tractor Supply

Institutional investors and hedge funds have recently made changes to their positions in the business. Future Financial Wealth Managment LLC raised its holdings in Tractor Supply by 400.0% in the fourth quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 400 shares in the last quarter. First Personal Financial Services acquired a new stake in shares of Tractor Supply in the 3rd quarter valued at about $29,000. Harbor Investment Advisory LLC lifted its position in shares of Tractor Supply by 400.0% during the fourth quarter. Harbor Investment Advisory LLC now owns 555 shares of the specialty retailer’s stock worth $29,000 after purchasing an additional 444 shares during the last quarter. Peoples Bank KS grew its stake in Tractor Supply by 400.0% in the fourth quarter. Peoples Bank KS now owns 570 shares of the specialty retailer’s stock worth $30,000 after purchasing an additional 456 shares in the last quarter. Finally, Westside Investment Management Inc. increased its holdings in Tractor Supply by 402.7% in the fourth quarter. Westside Investment Management Inc. now owns 563 shares of the specialty retailer’s stock valued at $30,000 after buying an additional 451 shares during the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

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.