5 Best Dividend Growth Stocks to Buy and Hold for 3 Years

3. Tractor Supply Company (NASDAQ:TSCO)

5-Dividend Growth Rate: 22.7%

On May 5, Piper Sandler analyst Peter Keith downgraded Tractor Supply Company (NASDAQ:TSCO) to Neutral from Overweight. It cut the stock’s price target to $36 from $51. The firm said it was downgrading the stock after recommending the shares for the past eight years. Keith noted that companion animal trends could remain under pressure for several years as rising pet ownership costs weigh on demand. He also told investors in a research note that Piper sees risk to Tractor Supply’s 2026 guidance following what it described as a “weak” first-quarter report.

On April 27, TD Cowen analyst Max Rakhlenko lowered the firm’s price recommendation on TSCO to $38 from $53. The analyst reiterated a Hold rating on the shares. The firm said Tractor Supply is working to expand initiatives aimed at reaccelerating growth in the Companion Animal category and other parts of the business, though it believes progress will take time. Cowen added that comparable sales could stay pressured over the medium term. The firm also said it expects the stock to remain range-bound in the near term and views second-quarter EPS as a major catalyst.

Tractor Supply Company (NASDAQ:TSCO) is an American rural lifestyle retailer focused on serving recreational farmers and ranchers. The company operates stores under the Tractor Supply Company and Petsense by Tractor Supply brands.