Tractor Supply (NASDAQ:TSCO) Announces Earnings Results

Tractor Supply (NASDAQ:TSCO) released its earnings results on Thursday. The specialty retailer reported $2.24 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.01, reports. The business had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.49 billion. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. Tractor Supply updated its FY 2024 guidance to 10.100-10.400 EPS and its FY24 guidance to $10.10-10.40 EPS.

Tractor Supply Stock Down 0.6 %

Shares of TSCO stock opened at $272.77 on Friday. The stock’s fifty day moving average price is $282.24 and its 200 day moving average price is $273.19. Tractor Supply has a 1-year low of $185.00 and a 1-year high of $307.64. The company has a market cap of $29.41 billion, a price-to-earnings ratio of 26.56, a price-to-earnings-growth ratio of 3.66 and a beta of 0.80. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.43 and a quick ratio of 0.25.

Tractor Supply Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were issued a dividend of $1.10 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $4.40 annualized dividend and a dividend yield of 1.61%. Tractor Supply’s dividend payout ratio is presently 42.84%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. UBS Group boosted their price objective on shares of Tractor Supply from $272.00 to $280.00 and gave the company a “neutral” rating in a research report on Friday. Telsey Advisory Group reiterated an “outperform” rating and issued a $335.00 price target on shares of Tractor Supply in a report on Thursday. JPMorgan Chase & Co. raised their price objective on Tractor Supply from $260.00 to $290.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Benchmark reaffirmed a “buy” rating and set a $280.00 target price on shares of Tractor Supply in a research report on Monday, October 21st. Finally, Loop Capital increased their price target on Tractor Supply from $250.00 to $260.00 and gave the stock a “hold” rating in a research report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $277.70.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 540 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $262.35, for a total value of $141,669.00. Following the completion of the sale, the senior vice president now owns 5,170 shares of the company’s stock, valued at approximately $1,356,349.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tractor Supply news, SVP Matthew L. Rubin sold 540 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $262.35, for a total value of $141,669.00. Following the completion of the transaction, the senior vice president now owns 5,170 shares of the company’s stock, valued at approximately $1,356,349.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kurt D. Barton sold 23,532 shares of Tractor Supply stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total transaction of $6,957,000.48. Following the sale, the chief financial officer now owns 9,683 shares of the company’s stock, valued at $2,862,682.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its position in Tractor Supply by 12.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,330,621 shares of the specialty retailer’s stock worth $871,691,000 after buying an additional 368,859 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Tractor Supply by 10.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,123,280 shares of the specialty retailer’s stock worth $303,278,000 after acquiring an additional 110,342 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Tractor Supply by 4.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 800,463 shares of the specialty retailer’s stock worth $216,125,000 after purchasing an additional 37,071 shares during the last quarter. Clearbridge Investments LLC lifted its position in Tractor Supply by 67.4% during the second quarter. Clearbridge Investments LLC now owns 403,710 shares of the specialty retailer’s stock valued at $109,002,000 after purchasing an additional 162,533 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in Tractor Supply by 5.6% in the second quarter. Principal Financial Group Inc. now owns 368,161 shares of the specialty retailer’s stock valued at $99,403,000 after purchasing an additional 19,393 shares during the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

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.