Tractor Supply (NASDAQ:TSCO) Issues Quarterly Earnings Results

Tractor Supply (NASDAQ:TSCO) issued its quarterly earnings results on Thursday. The specialty retailer reported $1.83 EPS for the quarter, topping the consensus estimate of $1.70 by $0.13, Briefing.com reports. The firm had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.40 billion. Tractor Supply had a net margin of 7.61% and a return on equity of 53.60%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.65 EPS. Tractor Supply updated its FY24 guidance to $9.85-10.50 EPS and its FY 2024 guidance to 9.850-10.500 EPS.

Tractor Supply Stock Performance

NASDAQ:TSCO traded up $8.64 during mid-day trading on Friday, reaching $273.90. 1,599,523 shares of the company’s stock were exchanged, compared to its average volume of 1,172,440. Tractor Supply has a one year low of $185.00 and a one year high of $274.66. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.28 and a current ratio of 1.50. The business’s fifty day simple moving average is $251.70 and its two-hundred day simple moving average is $226.10. The firm has a market capitalization of $29.56 billion, a PE ratio of 27.12, a price-to-earnings-growth ratio of 3.88 and a beta of 0.84.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were paid a $1.10 dividend. The ex-dividend date was Friday, February 23rd. This is an increase from Tractor Supply’s previous quarterly dividend of $1.03. This represents a $4.40 annualized dividend and a dividend yield of 1.61%. Tractor Supply’s dividend payout ratio is 43.61%.

Insider Buying and Selling at Tractor Supply

In other news, EVP Robert D. Mills sold 48,334 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $232.23, for a total transaction of $11,224,604.82. Following the transaction, the executive vice president now directly owns 22,167 shares of the company’s stock, valued at $5,147,842.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Kurt D. Barton sold 4,335 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $257.00, for a total value of $1,114,095.00. Following the completion of the transaction, the chief financial officer now owns 20,678 shares of the company’s stock, valued at $5,314,246. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert D. Mills sold 48,334 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $232.23, for a total transaction of $11,224,604.82. Following the sale, the executive vice president now directly owns 22,167 shares of the company’s stock, valued at approximately $5,147,842.41. The disclosure for this sale can be found here. Insiders sold 90,090 shares of company stock valued at $21,201,877 in the last quarter. Company insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Evercore ISI increased their price target on Tractor Supply from $275.00 to $280.00 and gave the company an “outperform” rating in a research report on Friday. Stephens cut Tractor Supply from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $226.00 to $240.00 in a research note on Tuesday, January 23rd. Truist Financial raised their target price on shares of Tractor Supply from $277.00 to $289.00 and gave the company a “buy” rating in a research note on Friday. Wells Fargo & Company upped their price target on shares of Tractor Supply from $250.00 to $285.00 and gave the stock an “overweight” rating in a research report on Monday, March 25th. Finally, Barclays lifted their price objective on shares of Tractor Supply from $234.00 to $240.00 and gave the company an “equal weight” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $248.17.

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.