Tractor Supply (NASDAQ:TSCO) Sets New 1-Year High After Better-Than-Expected Earnings

Tractor Supply (NASDAQ:TSCO) shares hit a new 52-week high during mid-day trading on Friday following a better than expected earnings announcement. The company traded as high as $270.91 and last traded at $269.97, with a volume of 173077 shares traded. The stock had previously closed at $265.26.

The specialty retailer reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.13. Tractor Supply had a return on equity of 53.60% and a net margin of 7.61%. The firm had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the previous year, the company posted $1.65 earnings per share. The company’s revenue was up 2.8% compared to the same quarter last year.

Tractor Supply Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Stephens downgraded Tractor Supply from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $226.00 to $240.00 in a report on Tuesday, January 23rd. Evercore ISI boosted their price target on Tractor Supply from $275.00 to $280.00 and gave the company an “outperform” rating in a report on Friday. Raymond James boosted their price target on Tractor Supply from $250.00 to $285.00 and gave the company an “outperform” rating in a report on Friday. UBS Group boosted their price objective on Tractor Supply from $220.00 to $240.00 and gave the company a “neutral” rating in a research report on Friday, February 2nd. Finally, Mizuho restated a “neutral” rating and issued a $250.00 price objective (up from $245.00) on shares of Tractor Supply in a research report on Friday. Two investment 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $248.17.

Insider Buying and Selling

In other Tractor Supply news, EVP Colin Yankee sold 8,675 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $250.00, for a total transaction of $2,168,750.00. Following the transaction, the executive vice president now owns 9,673 shares of the company’s stock, valued at $2,418,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Tractor Supply news, CEO Harry A. Lawton III sold 20,500 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $232.93, for a total transaction of $4,775,065.00. Following the transaction, the chief executive officer now owns 95,192 shares of the company’s stock, valued at $22,173,072.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Colin Yankee sold 8,675 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $250.00, for a total value of $2,168,750.00. Following the transaction, the executive vice president now directly owns 9,673 shares in the company, valued at approximately $2,418,250. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,090 shares of company stock worth $21,201,877. 0.24% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tractor Supply

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TSCO. Patrick M Sweeney & Associates Inc. grew its holdings in shares of Tractor Supply by 8.0% during the 1st quarter. Patrick M Sweeney & Associates Inc. now owns 1,064 shares of the specialty retailer’s stock worth $279,000 after purchasing an additional 79 shares during the period. Tritonpoint Wealth LLC grew its holdings in shares of Tractor Supply by 5.4% during the 1st quarter. Tritonpoint Wealth LLC now owns 3,340 shares of the specialty retailer’s stock worth $874,000 after purchasing an additional 172 shares during the period. Lindbrook Capital LLC grew its holdings in shares of Tractor Supply by 10.9% during the 1st quarter. Lindbrook Capital LLC now owns 459 shares of the specialty retailer’s stock worth $120,000 after purchasing an additional 45 shares during the period. WCM Investment Management LLC grew its holdings in shares of Tractor Supply by 2.3% during the 1st quarter. WCM Investment Management LLC now owns 3,702 shares of the specialty retailer’s stock worth $969,000 after purchasing an additional 82 shares during the period. Finally, TRUE Private Wealth Advisors grew its holdings in shares of Tractor Supply by 6.5% during the 1st quarter. TRUE Private Wealth Advisors now owns 1,698 shares of the specialty retailer’s stock worth $444,000 after purchasing an additional 104 shares during the period. Institutional investors and hedge funds own 98.72% of the company’s stock.

Tractor Supply Trading Up 3.3 %

The firm has a market capitalization of $29.56 billion, a PE ratio of 27.15, a PEG ratio of 3.88 and a beta of 0.84. The company has a current ratio of 1.50, a quick ratio of 0.28 and a debt-to-equity ratio of 0.82. The business has a fifty day moving average price of $252.44 and a two-hundred day moving average price of $226.59.

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.