Bank of Nova Scotia Sells 178,970 Shares of Tractor Supply Company $TSCO

Bank of Nova Scotia trimmed its holdings in shares of Tractor Supply Company (NASDAQ:TSCO) by 54.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 149,514 shares of the specialty retailer’s stock after selling 178,970 shares during the period. Bank of Nova Scotia’s holdings in Tractor Supply were worth $7,890,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Opal Wealth Advisors LLC bought a new stake in Tractor Supply during the second quarter worth $35,000. Financial Gravity Companies Inc. acquired a new stake in Tractor Supply in the 2nd quarter valued at about $38,000. Zions Bancorporation National Association UT bought a new position in Tractor Supply during the first quarter worth about $41,000. Evelyn Partners Asset Management Ltd bought a new position in Tractor Supply during the second quarter worth about $46,000. Finally, Whittier Trust Co. increased its position in Tractor Supply by 79.8% during the second quarter. Whittier Trust Co. now owns 899 shares of the specialty retailer’s stock worth $47,000 after buying an additional 399 shares during the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Tractor Supply Stock Up 1.0%

Shares of NASDAQ TSCO opened at $52.86 on Thursday. Tractor Supply Company has a 1 year low of $46.85 and a 1 year high of $63.99. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.30 and a quick ratio of 0.14. The firm has a market cap of $27.93 billion, a PE ratio of 25.41, a price-to-earnings-growth ratio of 2.70 and a beta of 0.72. The company has a 50 day simple moving average of $54.44 and a 200 day simple moving average of $55.89.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, October 23rd. The specialty retailer reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.01. Tractor Supply had a net margin of 7.18% and a return on equity of 46.18%. The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter last year, the firm earned $0.45 earnings per share. The company’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, research analysts forecast that Tractor Supply Company will post 2.17 EPS for the current year.

Tractor Supply Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 9th. Investors of record on Monday, November 24th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Monday, November 24th. Tractor Supply’s payout ratio is presently 44.23%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TSCO. Morgan Stanley upgraded shares of Tractor Supply from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $50.00 to $60.00 in a research note on Friday, October 24th. Wells Fargo & Company restated an “overweight” rating and set a $65.00 price objective on shares of Tractor Supply in a research report on Thursday, October 23rd. DA Davidson set a $70.00 price objective on Tractor Supply in a report on Friday, October 24th. Weiss Ratings cut Tractor Supply from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. Finally, Citigroup boosted their price target on Tractor Supply from $62.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, October 24th. Fifteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $63.95.

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.