Carnegie Investment Counsel Sells 11,242 Shares of Tractor Supply Company $TSCO

Key Points

• Carnegie Investment Counsel reduced its holdings in Tractor Supply Company (NASDAQ:TSCO) by 4.6%, selling 11,242 shares, and now owns 231,723 shares valued at approximately $12.2 million.
• Tractor Supply's stock received several upgrades from analysts, with Bank of America raising its rating to a buy and setting a new price target of $70.00.
• The company reported a 7.2% increase in revenue year-over-year for the last quarter, with earnings per share of $0.49, exceeding analyst expectations.

Carnegie Investment Counsel reduced its holdings in shares of Tractor Supply Company (NASDAQ:TSCO - Free Report) by 4.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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 reporting period.

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TSCO shares. Wall Street Zen raised Tractor Supply from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Bank of America raised Tractor Supply from an "underperform" rating to a "buy" rating and set a $70.00 price target for the company in a research note on Thursday, July 24th. DA Davidson increased their price target on Tractor Supply from $65.00 to $70.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Raymond James Financial reaffirmed an "outperform" rating and set a $65.00 target price (up previously from $57.00) on shares of Tractor Supply in a research note on Friday, July 25th. Finally, Piper Sandler raised their target price on Tractor Supply from $66.00 to $67.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Fifteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $62.45.

Insider Transactions at Tractor Supply

In other news, EVP Colin Yankee sold 6,680 shares of Tractor Supply stock in a transaction on 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 transaction, the executive vice president directly owned 40,142 shares in the company, valued at approximately $2,344,292.80. The trade was a 14.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.65% of the stock is owned by corporate insiders.

Tractor Supply Stock Performance

NASDAQ:TSCO opened at $56.35 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.28 and a quick ratio of 0.16. The business has a fifty day simple moving average of $58.29 and a two-hundred day simple moving average of $55.01. Tractor Supply Company has a 1 year low of $46.85 and a 1 year high of $63.99. The company has a market capitalization of $29.86 billion, a P/E ratio of 27.65, a P/E/G ratio of 2.81 and a beta of 0.73.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its earnings results on Thursday, October 23rd. The specialty retailer reported $0.49 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period last year, the business posted $0.45 earnings per share. The business'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. On average, analysts expect that Tractor Supply Company will post 2.17 earnings per share for the current year.

Tractor Supply Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Monday, August 25th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Monday, August 25th. Tractor Supply's dividend payout ratio (DPR) is currently 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.

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