Tractor Supply (NASDAQ:TSCO) Given New $53.00 Price Target at Bank of America

Tractor Supply (NASDAQ:TSCO - Free Report) had its target price increased by Bank of America from $44.00 to $53.00 in a report issued on Thursday,Benzinga reports. The firm currently has an underperform rating on the specialty retailer's stock.

Other analysts have also recently issued reports about the company. Wells Fargo & Company decreased their price objective on Tractor Supply from $65.00 to $64.00 and set an "overweight" rating for the company in a research report on Monday, November 25th. Piper Sandler increased their price target on Tractor Supply from $60.00 to $66.40 and gave the stock an "overweight" rating in a report on Monday, October 14th. Robert W. Baird set a $64.00 price objective on shares of Tractor Supply in a research report on Thursday, October 17th. Melius Research assumed 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 for the company. Finally, Truist Financial lowered their target price on shares of Tractor Supply from $65.00 to $63.40 and set a "buy" rating on the stock in a report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $58.01.

Tractor Supply Stock Performance

Shares of NASDAQ:TSCO traded up $0.13 on Thursday, reaching $53.66. The company's stock had a trading volume of 5,582,995 shares, compared to its average volume of 5,038,672. Tractor Supply has a 52-week low of $44.35 and a 52-week high of $61.53. The stock has a market capitalization of $28.67 billion, a P/E ratio of 26.10, a PEG ratio of 3.09 and a beta of 0.84. The stock's 50-day moving average is $55.10 and its two-hundred day moving average is $54.97. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.48 and a quick ratio of 0.17.

Tractor Supply Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were given 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 presently 42.80%.

Hedge Funds Weigh In On Tractor Supply

Hedge funds have recently added to or reduced their stakes in the business. Silvant Capital Management LLC increased 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 purchasing an additional 2,556 shares in the last quarter. Blueshift Asset Management LLC increased its position in Tractor Supply by 32.7% during the third quarter. Blueshift Asset Management LLC now owns 9,945 shares of the specialty retailer's stock worth $2,893,000 after buying an additional 2,452 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Tractor Supply in the second quarter worth $13,353,000. Allspring Global Investments Holdings LLC lifted its position in shares of Tractor Supply by 48.1% in 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 acquiring an additional 3,182 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Tractor Supply by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 631,406 shares of the specialty retailer's stock valued at $183,695,000 after acquiring an additional 8,142 shares during the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

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.