Carnegie Investment Counsel Trims Holdings in Tractor Supply Company $TSCO

Carnegie Investment Counsel cut its stake in Tractor Supply Company (NASDAQ:TSCO) by 4.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 231,723 shares of the specialty retailer’s stock after selling 11,242 shares during the quarter. Carnegie Investment Counsel’s holdings in Tractor Supply were worth $12,228,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Tributary Capital Management LLC grew its position in shares of Tractor Supply by 3.7% in the second quarter. Tributary Capital Management LLC now owns 26,848 shares of the specialty retailer’s stock valued at $1,417,000 after purchasing an additional 967 shares in the last quarter. Brookstone Capital Management grew its position in shares of Tractor Supply by 28.1% in the second quarter. Brookstone Capital Management now owns 9,618 shares of the specialty retailer’s stock valued at $508,000 after purchasing an additional 2,109 shares in the last quarter. D.A. Davidson & CO. grew its position in shares of Tractor Supply by 6.3% in the second quarter. D.A. Davidson & CO. now owns 60,403 shares of the specialty retailer’s stock valued at $3,188,000 after purchasing an additional 3,575 shares in the last quarter. Cullen Frost Bankers Inc. boosted its stake in Tractor Supply by 2.9% during the second quarter. Cullen Frost Bankers Inc. now owns 98,340 shares of the specialty retailer’s stock valued at $5,189,000 after buying an additional 2,752 shares during the period. Finally, Advantage Trust Co bought a new stake in Tractor Supply during the second quarter valued at $59,000. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tractor Supply

In other news, EVP Colin Yankee sold 6,680 shares of the business’s stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $58.40, for a total value of $390,112.00. Following the completion of the sale, the executive vice president owned 40,142 shares of the company’s stock, valued at approximately $2,344,292.80. The trade was a 14.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.65% of the company’s stock.

Tractor Supply Trading Up 2.8%

Shares of TSCO stock opened at $56.35 on Friday. The company has a quick ratio of 0.16, a current ratio of 1.28 and a debt-to-equity ratio of 0.68. The business has a 50-day moving average price of $58.29 and a two-hundred day moving average price of $55.01. Tractor Supply Company has a 12-month low of $46.85 and a 12-month high of $63.99. The firm has a market cap of $29.86 billion, a P/E ratio of 27.65, a price-to-earnings-growth ratio of 2.81 and a beta of 0.73.

Tractor Supply (NASDAQ:TSCO) last released its earnings results on Thursday, October 23rd. The specialty retailer reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. Tractor Supply had a return on equity of 46.83% and a net margin of 7.18%.The company had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the previous year, the company posted $0.45 EPS. Tractor Supply’s revenue for the quarter was up 7.2% on a year-over-year basis. Tractor Supply has set its FY 2025 guidance at 2.060-2.130 EPS. Equities analysts anticipate that Tractor Supply Company will post 2.17 EPS for the current fiscal year.

Tractor Supply Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Monday, August 25th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, August 25th. Tractor Supply’s payout ratio is 45.10%.

Wall Street Analyst Weigh In

TSCO has been the subject of several research analyst reports. Piper Sandler lifted their price objective on Tractor Supply from $66.00 to $67.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. Evercore ISI dropped their price objective on Tractor Supply from $65.00 to $60.00 and set an “in-line” rating for the company in a research note on Tuesday, October 7th. DA Davidson lifted their price objective on Tractor Supply from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Wells Fargo & Company reissued an “overweight” rating and set a $65.00 price objective on shares of Tractor Supply in a research note on Thursday. Finally, Truist Financial lifted their price objective on Tractor Supply from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Fifteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $62.45.

About Tractor Supply

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.