Carnegie Investment Counsel Invests $13.39 Million in Tractor Supply Company (NASDAQ:TSCO)

Carnegie Investment Counsel purchased a new position in shares of Tractor Supply Company (NASDAQ:TSCO - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 242,965 shares of the specialty retailer's stock, valued at approximately $13,387,000.

Several other hedge funds have also recently added to or reduced their stakes in TSCO. Coppell Advisory Solutions LLC grew its position in Tractor Supply by 944.4% in the 4th quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer's stock valued at $25,000 after purchasing an additional 425 shares during the period. GW&K Investment Management LLC grew its position in Tractor Supply by 89.3% in the 1st quarter. GW&K Investment Management LLC now owns 479 shares of the specialty retailer's stock valued at $26,000 after purchasing an additional 226 shares during the period. Dunhill Financial LLC boosted its holdings in Tractor Supply by 325.8% during the 4th quarter. Dunhill Financial LLC now owns 511 shares of the specialty retailer's stock worth $27,000 after acquiring an additional 391 shares during the last quarter. Pacific Center for Financial Services boosted its holdings in Tractor Supply by 400.0% during the 4th quarter. Pacific Center for Financial Services now owns 550 shares of the specialty retailer's stock worth $29,000 after acquiring an additional 440 shares during the last quarter. Finally, LRI Investments LLC boosted its holdings in Tractor Supply by 400.0% during the 4th quarter. LRI Investments LLC now owns 615 shares of the specialty retailer's stock worth $33,000 after acquiring an additional 492 shares during the last quarter. Institutional investors own 98.72% of the company's stock.

Insider Activity at Tractor Supply

In other Tractor Supply news, Director Denise L. Jackson sold 1,165 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $58.50, for a total transaction of $68,152.50. Following the completion of the sale, the director directly owned 31,123 shares of the company's stock, valued at approximately $1,820,695.50. This trade represents a 3.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jonathan S. Estep sold 35,825 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $56.00, for a total value of $2,006,200.00. Following the completion of the sale, the executive vice president directly owned 74,605 shares of the company's stock, valued at $4,177,880. This represents a 32.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 105,610 shares of company stock valued at $5,737,894 in the last three months. 0.65% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Evercore ISI lifted their price objective on shares of Tractor Supply from $60.00 to $65.00 and gave the stock an "in-line" rating in a report on Friday. Piper Sandler lifted their price objective on shares of Tractor Supply from $66.00 to $67.00 and gave the stock an "overweight" rating in a report on Friday. Loop Capital lifted their target price on Tractor Supply from $48.00 to $60.00 and gave the stock a "hold" rating in a research note on Friday. DA Davidson lifted their target price on Tractor Supply from $65.00 to $70.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Bank of America upgraded Tractor Supply from an "underperform" rating to a "buy" rating and set a $70.00 target price on the stock in a research note on Thursday. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $61.30.

Tractor Supply Trading Down 0.0%

NASDAQ TSCO traded down $0.01 on Friday, reaching $59.33. 7,589,239 shares of the company were exchanged, compared to its average volume of 6,122,455. The business's fifty day moving average price is $53.27 and its 200 day moving average price is $53.39. The stock has a market capitalization of $31.46 billion, a P/E ratio of 29.11, a price-to-earnings-growth ratio of 3.20 and a beta of 0.75. The company has a current ratio of 1.28, a quick ratio of 0.17 and a debt-to-equity ratio of 0.68. Tractor Supply Company has a fifty-two week low of $46.85 and a fifty-two week high of $63.99.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its earnings results on Thursday, July 24th. The specialty retailer reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.80 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 $4.44 billion during the quarter, compared to analysts' expectations of $4.40 billion. During the same period last year, the business posted $3.93 EPS. Tractor Supply's revenue for the quarter was up 4.5% on a year-over-year basis. Analysts forecast that Tractor Supply Company will post 2.17 earnings per share for the current year.

Tractor Supply Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were given a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.55%. Tractor Supply's dividend payout ratio (DPR) is presently 45.10%.

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.