Nicholas Investment Partners LP Lowers Position in Tractor Supply (NASDAQ:TSCO)

Nicholas Investment Partners LP decreased its stake in shares of Tractor Supply (NASDAQ:TSCO) by 60.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,787 shares of the specialty retailer’s stock after selling 2,749 shares during the quarter. Nicholas Investment Partners LP’s holdings in Tractor Supply were worth $395,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TSCO. D.A. Davidson & CO. grew its position in shares of Tractor Supply by 3.6% during the first quarter. D.A. Davidson & CO. now owns 1,171 shares of the specialty retailer’s stock valued at $275,000 after purchasing an additional 41 shares in the last quarter. Koshinski Asset Management Inc. boosted its stake in Tractor Supply by 2.4% during the second quarter. Koshinski Asset Management Inc. now owns 1,904 shares of the specialty retailer’s stock valued at $421,000 after buying an additional 45 shares during the last quarter. Capital Advisors Ltd. LLC grew its holdings in Tractor Supply by 2.1% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 2,503 shares of the specialty retailer’s stock valued at $553,000 after buying an additional 51 shares in the last quarter. BCM Advisors LLC increased its stake in Tractor Supply by 0.9% in the 1st quarter. BCM Advisors LLC now owns 5,801 shares of the specialty retailer’s stock worth $1,386,000 after acquiring an additional 52 shares during the last quarter. Finally, TBH Global Asset Management LLC raised its holdings in shares of Tractor Supply by 0.9% during the 1st quarter. TBH Global Asset Management LLC now owns 5,599 shares of the specialty retailer’s stock worth $1,316,000 after acquiring an additional 52 shares in the last quarter. 90.38% of the stock is owned by hedge funds and other institutional investors.

Tractor Supply Price Performance

TSCO traded down $3.17 during trading on Thursday, hitting $204.33. The company’s stock had a trading volume of 124,655 shares, compared to its average volume of 1,176,193. The company has a current ratio of 1.52, a quick ratio of 0.30 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $22.09 billion, a price-to-earnings ratio of 20.26, a P/E/G ratio of 2.84 and a beta of 0.85. The business’s fifty day simple moving average is $203.29 and its 200 day simple moving average is $214.92. Tractor Supply has a twelve month low of $185.00 and a twelve month high of $251.17.

Tractor Supply Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Monday, November 27th will be issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Friday, November 24th. Tractor Supply’s payout ratio is presently 40.23%.

Analyst Upgrades and Downgrades

TSCO has been the subject of a number of recent research reports. StockNews.com initiated coverage on shares of Tractor Supply in a report on Thursday, October 5th. They issued a “hold” rating for the company. JPMorgan Chase & Co. reduced their target price on shares of Tractor Supply from $218.00 to $208.00 and set a “neutral” rating on the stock in a report on Wednesday, October 18th. Bank of America cut shares of Tractor Supply from a “buy” rating to a “neutral” rating and decreased their target price for the company from $270.00 to $226.00 in a research report on Tuesday, July 25th. Truist Financial dropped their price target on Tractor Supply from $235.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, October 27th. Finally, Wedbush decreased their price objective on Tractor Supply from $240.00 to $230.00 and set a “neutral” rating on the stock in a research report on Friday, July 28th. Eleven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $234.42.

About Tractor Supply

Tractor Supply Company operates as a rural lifestyle retailer in the United States. The company offers a selection of merchandise, including equine, livestock, pet, and small animal products necessary for their health, care, growth, and containment; hardware, truck, towing, and tool products; seasonal products, such as heating products, lawn and garden items, power equipment, gifts, and toys; work/recreational clothing and footwear; and maintenance products for agricultural and rural use.