Tractor Supply (NASDAQ:TSCO) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Tractor Supply (NASDAQ:TSCO) posted its quarterly earnings data on Thursday. The specialty retailer reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.01, reports. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. The company had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.49 billion. 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 Price Performance

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

Tractor Supply Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Wells Fargo & Company raised their price target on Tractor Supply from $295.00 to $325.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Benchmark restated a “buy” rating and set a $280.00 price objective on shares of Tractor Supply in a research note on Monday, October 21st. Robert W. Baird set a $320.00 target price on shares of Tractor Supply in a research note on Thursday, October 17th. Mizuho increased their price target on shares of Tractor Supply from $250.00 to $270.00 and gave the company a “neutral” rating in a report on Friday. Finally, Piper Sandler boosted their price objective on shares of Tractor Supply from $300.00 to $332.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $277.70.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Tractor Supply

Several institutional investors have recently added to or reduced their stakes in TSCO. Future Financial Wealth Managment LLC bought a new position in shares of Tractor Supply in the 1st quarter valued at about $26,000. LRI Investments LLC purchased a new stake in shares of Tractor Supply in the first quarter valued at $28,000. J.Safra Asset Management Corp lifted its holdings in shares of Tractor Supply by 700.0% in the 1st quarter. J.Safra Asset Management Corp now owns 112 shares of the specialty retailer’s stock worth $29,000 after acquiring an additional 98 shares during the last quarter. Whittier Trust Co. raised its position in Tractor Supply by 60.9% in the 2nd quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock worth $30,000 after purchasing an additional 42 shares during the period. Finally, OFI Invest Asset Management bought a new stake in Tractor Supply in the second quarter worth about $33,000. Hedge funds and other institutional investors own 98.72% of the company’s stock.

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.