Tractor Supply (NASDAQ:TSCO) Upgraded by Mizuho to Outperform Rating

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

A number of other equities analysts have also commented on the stock. Citigroup lowered shares of Tractor Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. Truist Financial reduced their price target on shares of Tractor Supply from $65.00 to $63.40 and set a “buy” rating for the company in a research report on Friday, October 25th. Benchmark upped their price target on shares of Tractor Supply from $56.00 to $62.00 and gave the stock a “buy” rating in a report on Monday, October 28th. JPMorgan Chase & Co. boosted their target price on Tractor Supply from $52.00 to $58.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Finally, Loop Capital raised their price target on Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.25.

Tractor Supply Stock Performance

Shares of TSCO opened at $53.65 on Monday. Tractor Supply has a 52-week low of $43.56 and a 52-week high of $61.53. The stock’s 50-day simple moving average is $55.24 and its 200 day simple moving average is $55.00. 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 stock has a market capitalization of $28.66 billion, a price-to-earnings ratio of 5.22, a price-to-earnings-growth ratio of 3.58 and a beta of 0.84.

Tractor Supply Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders 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 annualized dividend and a dividend yield of 1.64%. Tractor Supply’s dividend payout ratio is currently 42.72%.

Institutional Investors Weigh In On Tractor Supply

Hedge funds and other institutional investors have recently modified their holdings of the stock. Future Financial Wealth Managment LLC purchased a new position in Tractor Supply in the 3rd quarter worth approximately $29,000. First Personal Financial Services purchased a new stake in shares of Tractor Supply during the third quarter valued at approximately $29,000. Providence Capital Advisors LLC bought a new position in shares of Tractor Supply in the third quarter worth approximately $32,000. DT Investment Partners LLC increased its stake in shares of Tractor Supply by 120.0% in the third quarter. DT Investment Partners LLC now owns 132 shares of the specialty retailer’s stock worth $38,000 after buying an additional 72 shares during the period. Finally, Assetmark Inc. raised its holdings in Tractor Supply by 2,383.3% during the 3rd quarter. Assetmark Inc. now owns 149 shares of the specialty retailer’s stock valued at $43,000 after buying an additional 143 shares during the last quarter. Institutional investors own 98.72% of the company’s stock.

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.