Wells Fargo & Company Has Lowered Expectations for Tractor Supply (NASDAQ:TSCO) Stock Price

by · The Markets Daily

Tractor Supply (NASDAQ:TSCO – Free Report) had its price objective decreased by Wells Fargo & Company from $325.00 to $320.00 in a research note issued to investors on Monday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the specialty retailer’s stock.

TSCO has been the topic of a number of other reports. JPMorgan Chase & Co. lifted their price target on Tractor Supply from $260.00 to $290.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Citigroup downgraded Tractor Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. Telsey Advisory Group reiterated an “outperform” rating and issued a $335.00 target price on shares of Tractor Supply in a report on Thursday, October 24th. Mizuho raised their price target on shares of Tractor Supply from $250.00 to $270.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Finally, Evercore ISI raised shares of Tractor Supply from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 15th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $282.59.

Read Our Latest Analysis on TSCO

Tractor Supply Price Performance

NASDAQ TSCO opened at $281.96 on Monday. The company has a market cap of $30.12 billion, a PE ratio of 27.43, a P/E/G ratio of 3.59 and a beta of 0.82. The firm’s 50 day moving average price is $284.43 and its 200-day moving average price is $275.79. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.17 and a current ratio of 1.48. Tractor Supply has a 52-week low of $197.00 and a 52-week high of $307.64.

Tractor Supply Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be issued a dividend of $1.10 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $4.40 annualized dividend and a dividend yield of 1.56%. Tractor Supply’s dividend payout ratio (DPR) is presently 42.80%.

Insider Activity at Tractor Supply

In other Tractor Supply news, CFO Kurt D. Barton sold 23,532 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total value of $6,957,000.48. Following the sale, the chief financial officer now owns 9,683 shares in the company, valued at approximately $2,862,682.12. This represents a 70.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.24% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tractor Supply

Several large investors have recently made changes to their positions in the company. LRI Investments LLC purchased a new position in Tractor Supply in the first quarter valued at $28,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Tractor Supply during the 3rd quarter valued at about $29,000. First Personal Financial Services purchased a new position in shares of Tractor Supply in the 3rd quarter valued at about $29,000. Whittier Trust Co. raised its holdings in Tractor Supply by 60.9% in the 2nd quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock worth $30,000 after purchasing an additional 42 shares during the period. Finally, Providence Capital Advisors LLC purchased a new position in Tractor Supply during the third quarter worth approximately $32,000. 98.72% of the stock is currently owned by institutional investors and hedge funds.

About Tractor Supply

(Get Free Report)

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.

Read More