JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Tractor Supply (NASDAQ:TSCO) Stock

Tractor Supply (NASDAQ:TSCO - Free Report) had its target price raised by JPMorgan Chase & Co. from $58.00 to $59.00 in a research note issued to investors on Friday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the specialty retailer's stock.

Several other equities analysts have also recently commented on TSCO. Mizuho increased their price target on shares of Tractor Supply from $60.00 to $62.00 and gave the company an "outperform" rating in a report on Thursday, January 23rd. Guggenheim reaffirmed a "buy" rating and set a $60.00 price objective on shares of Tractor Supply in a report on Friday. Telsey Advisory Group restated an "outperform" rating and set a $67.00 target price on shares of Tractor Supply in a research report on Thursday, January 30th. Benchmark upped their price target on Tractor Supply from $56.00 to $62.00 and gave the company a "buy" rating in a research report on Monday, October 28th. Finally, Gordon Haskett lowered shares of Tractor Supply from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $59.22.

Tractor Supply Stock Down 1.0 %

NASDAQ TSCO traded down $0.54 on Friday, hitting $54.04. 6,171,686 shares of the stock traded hands, compared to its average volume of 5,628,793. The stock has a 50-day moving average of $55.19 and a 200 day moving average of $55.22. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. Tractor Supply has a twelve month low of $45.74 and a twelve month high of $61.53. The company has a market capitalization of $28.86 billion, a P/E ratio of 26.49, a price-to-earnings-growth ratio of 3.13 and a beta of 0.84.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its quarterly earnings results 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 7.40% and a return on equity of 49.01%. As a group, analysts expect that Tractor Supply will post 2.18 earnings per share for the current fiscal year.

Tractor Supply Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were issued a $0.22 dividend. The ex-dividend date was Monday, November 25th. This represents a $0.88 annualized dividend and a dividend yield of 1.63%. Tractor Supply's dividend payout ratio (DPR) is currently 43.14%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of TSCO. Meridiem Investment Management Ltd. boosted its position 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 last quarter. Bank of New York Mellon Corp grew its stake in shares of Tractor Supply by 403.3% in the fourth quarter. Bank of New York Mellon Corp now owns 3,912,752 shares of the specialty retailer's stock valued at $207,611,000 after acquiring an additional 3,135,384 shares in the last quarter. Provident Trust Co. increased its stake in Tractor Supply by 397.4% during the 4th quarter. Provident Trust Co. now owns 3,380,905 shares of the specialty retailer's stock worth $179,391,000 after acquiring an additional 2,701,204 shares during the period. Principal Financial Group Inc. boosted its position in shares of Tractor Supply by 345.2% during the 4th quarter. Principal Financial Group Inc. now owns 1,402,070 shares of the specialty retailer's stock worth $74,394,000 after acquiring an additional 1,087,112 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Tractor Supply by 397.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,231,865 shares of the specialty retailer's stock worth $65,363,000 after buying an additional 984,113 shares during the last quarter. 98.72% of the stock is 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.