Tractor Supply (NASDAQ:TSCO – Get Rating) – Research analysts at Oppenheimer reduced their Q2 2022 earnings per share (EPS) estimates for Tractor Supply in a report released on Friday, April 22nd. Oppenheimer analyst B. Nagel now forecasts that the specialty retailer will post earnings per share of $3.39 for the quarter, down from their prior estimate of $3.42. Oppenheimer currently has a “Outperform” rating and a $270.00 price target on the stock. Oppenheimer also issued estimates for Tractor Supply’s Q3 2022 earnings at $2.06 EPS, FY2022 earnings at $9.35 EPS, FY2023 earnings at $10.14 EPS and FY2024 earnings at $10.94 EPS.
A number of other equities analysts have also recently weighed in on the stock. Robert W. Baird reaffirmed a “buy” rating and set a $250.00 price target on shares of Tractor Supply in a research note on Thursday, April 14th. Wedbush reissued a “neutral” rating on shares of Tractor Supply in a research note on Friday. Telsey Advisory Group increased their price objective on shares of Tractor Supply from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, January 28th. Wells Fargo & Company increased their price objective on shares of Tractor Supply from $230.00 to $265.00 in a research note on Wednesday, January 5th. Finally, StockNews.com started coverage on shares of Tractor Supply in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Eight investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Tractor Supply currently has a consensus rating of “Buy” and an average price target of $239.45.
Tractor Supply (NASDAQ:TSCO – Get Rating) last announced its quarterly earnings data on Thursday, April 21st. The specialty retailer reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.23. The company had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $2.92 billion. Tractor Supply had a net margin of 7.74% and a return on equity of 51.48%. Tractor Supply’s revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.55 EPS.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 8th. Investors of record on Monday, February 21st were issued a $0.92 dividend. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Thursday, February 17th. This represents a $3.68 annualized dividend and a yield of 1.78%. Tractor Supply’s dividend payout ratio (DPR) is presently 42.20%.
In other Tractor Supply news, CEO Harry A. Lawton III sold 20,049 shares of the stock in a transaction that occurred on Thursday, February 10th. The shares were sold at an average price of $222.35, for a total value of $4,457,895.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Colin Yankee sold 6,659 shares of the stock in a transaction that occurred on Monday, February 7th. The shares were sold at an average price of $217.64, for a total transaction of $1,449,264.76. The disclosure for this sale can be found here. Insiders sold 29,031 shares of company stock worth $6,416,873 in the last 90 days. 0.70% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of TSCO. UBS Asset Management Americas Inc. grew its position in shares of Tractor Supply by 149.1% during the third quarter. UBS Asset Management Americas Inc. now owns 2,113,836 shares of the specialty retailer’s stock worth $428,284,000 after buying an additional 1,265,148 shares in the last quarter. Norges Bank acquired a new stake in shares of Tractor Supply during the fourth quarter worth approximately $263,044,000. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Tractor Supply by 137.3% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 652,483 shares of the specialty retailer’s stock worth $155,682,000 after buying an additional 377,552 shares in the last quarter. BlackRock Inc. grew its position in shares of Tractor Supply by 3.1% during the third quarter. BlackRock Inc. now owns 11,093,754 shares of the specialty retailer’s stock worth $2,247,707,000 after buying an additional 331,051 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Tractor Supply by 68.8% during the third quarter. Goldman Sachs Group Inc. now owns 646,701 shares of the specialty retailer’s stock worth $131,028,000 after buying an additional 263,557 shares in the last quarter. 84.26% of the stock is owned by institutional investors.
About Tractor Supply (Get Rating)
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.
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