JPMorgan Chase & Co. Issues Positive Forecast for Tractor Supply (NASDAQ:TSCO) Stock Price

Tractor Supply (NASDAQ:TSCO) had its price target hoisted by JPMorgan Chase & Co. from $58.00 to $59.00 in a research report released on Friday morning,Benzinga reports. They currently have a neutral rating on the specialty retailer’s stock.

Several other analysts have also recently weighed in on TSCO. Piper Sandler upped their price objective on shares of Tractor Supply from $60.00 to $66.40 and gave the stock an “overweight” rating in a research note on Monday, October 14th. DA Davidson raised their price target on Tractor Supply from $60.00 to $65.00 and gave the company a “buy” rating in a report on Friday, October 25th. Telsey Advisory Group reiterated an “outperform” rating and issued a $67.00 price objective on shares of Tractor Supply in a research report on Thursday. Gordon Haskett cut Tractor Supply from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, October 24th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $60.00 price target on shares of Tractor Supply in a report on Friday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $58.90.

Tractor Supply Price Performance

Tractor Supply stock opened at $54.36 on Friday. The business has a 50 day simple moving average of $55.24 and a 200 day simple moving average of $55.23. 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 company has a market capitalization of $29.04 billion, a PE ratio of 26.44, a price-to-earnings-growth ratio of 3.29 and a beta of 0.84. Tractor Supply has a one year low of $44.35 and a one year high of $61.53.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.28 by ($1.84). Tractor Supply had a net margin of 7.53% and a return on equity of 50.19%. On average, sell-side analysts forecast that Tractor Supply will post 2.05 EPS for the current fiscal year.

Tractor Supply Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were issued a $0.22 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $0.88 dividend on an annualized basis and a yield of 1.62%. Tractor Supply’s dividend payout ratio is presently 42.80%.

Hedge Funds Weigh In On Tractor Supply

Several institutional investors have recently modified their holdings of TSCO. Meridiem Investment Management Ltd. grew its holdings in Tractor Supply by 398.9% during the fourth quarter. Meridiem Investment Management Ltd. now owns 5,118,785 shares of the specialty retailer’s stock valued at $271,674,000 after purchasing an additional 4,092,808 shares during the period. Wellington Management Group LLP boosted its position in shares of 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 worth $1,379,260,000 after purchasing an additional 161,503 shares in the last quarter. State Street Corp boosted its position in shares of Tractor Supply by 1.1% during the third quarter. State Street Corp now owns 4,518,341 shares of the specialty retailer’s stock worth $1,314,521,000 after purchasing an additional 47,951 shares in the last quarter. Provident Trust Co. grew its holdings in shares of Tractor Supply by 397.4% in the 4th quarter. Provident Trust Co. now owns 3,380,905 shares of the specialty retailer’s stock valued at $179,391,000 after buying an additional 2,701,204 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of 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 valued at $837,156,000 after buying an additional 43,998 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

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.