Barclays Lowers Tractor Supply (NASDAQ:TSCO) Price Target to $52.00

Tractor Supply (NASDAQ:TSCO - Free Report) had its price target lowered by Barclays from $262.00 to $52.00 in a research report report published on Monday,Benzinga reports. Barclays currently has an equal weight rating on the specialty retailer's stock.

Several other research analysts have also recently commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Tractor Supply from $52.00 to $58.00 and gave the stock a "neutral" rating in a report on Wednesday, October 16th. Wedbush restated a "neutral" rating and set a $54.00 price objective on shares of Tractor Supply in a research note on Friday, October 25th. Melius Research started coverage on Tractor Supply in a research report on Monday, September 23rd. They set a "buy" rating and a $63.00 target price for the company. Benchmark raised their price target on Tractor Supply from $56.00 to $62.00 and gave the stock a "buy" rating in a research report on Monday, October 28th. Finally, Piper Sandler boosted their price target on Tractor Supply from $60.00 to $66.40 and gave the company an "overweight" rating in a research note on Monday, October 14th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Tractor Supply currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.96.

Tractor Supply Stock Performance

TSCO traded down $1.97 during trading on Monday, hitting $52.59. The stock had a trading volume of 3,996,031 shares, compared to its average volume of 5,253,896. 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 firm has a market cap of $28.09 billion, a price-to-earnings ratio of 5.12, a P/E/G ratio of 3.58 and a beta of 0.83. The company has a 50 day moving average price of $55.69 and a 200-day moving average price of $55.18. Tractor Supply has a one year low of $42.35 and a one year high of $61.53.

Tractor Supply Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend was Monday, November 25th. Tractor Supply's payout ratio is 42.72%.

Insider Transactions at Tractor Supply

In related news, CFO Kurt D. Barton sold 117,660 shares of the business's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $59.13, for a total value of $6,957,000.48. Following the sale, the chief financial officer now owns 48,415 shares of the company's stock, valued at $2,862,682.12. The trade was a 70.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.24% of the company's stock.

Institutional Investors Weigh In On Tractor Supply

A number of institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. boosted its holdings in Tractor Supply by 2.0% in the third quarter. Franklin Resources Inc. now owns 454,175 shares of the specialty retailer's stock valued at $137,950,000 after acquiring an additional 8,890 shares during the last quarter. Tidal Investments LLC increased its position in shares of Tractor Supply by 722.5% during the third quarter. Tidal Investments LLC now owns 95,172 shares of the specialty retailer's stock worth $27,688,000 after buying an additional 83,601 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Tractor Supply during the third quarter worth $734,000. Sanctuary Advisors LLC lifted its holdings in Tractor Supply by 4.4% in the third quarter. Sanctuary Advisors LLC now owns 50,891 shares of the specialty retailer's stock valued at $14,336,000 after buying an additional 2,139 shares during the period. Finally, Pine Valley Investments Ltd Liability Co boosted its position in Tractor Supply by 7.1% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 978 shares of the specialty retailer's stock valued at $285,000 after acquiring an additional 65 shares during the last quarter. 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.