Q2 2024 EPS Estimates for Tractor Supply (NASDAQ:TSCO) Increased by Analyst

Tractor Supply (NASDAQ:TSCO) – Research analysts at Wedbush boosted their Q2 2024 earnings per share estimates for shares of Tractor Supply in a research report issued to clients and investors on Friday, April 26th. Wedbush analyst S. Basham now expects that the specialty retailer will post earnings per share of $4.00 for the quarter, up from their prior estimate of $3.96. Wedbush has a “Neutral” rating and a $235.00 price objective on the stock. The consensus estimate for Tractor Supply’s current full-year earnings is $10.26 per share. Wedbush also issued estimates for Tractor Supply’s Q3 2024 earnings at $2.22 EPS, Q4 2024 earnings at $2.38 EPS, FY2024 earnings at $10.42 EPS and FY2025 earnings at $11.59 EPS.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.13. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. The business had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same quarter in the prior year, the firm posted $1.65 EPS. The company’s revenue was up 2.8% compared to the same quarter last year.

Other analysts have also recently issued reports about the stock. UBS Group lifted their target price on shares of Tractor Supply from $220.00 to $240.00 and gave the stock a “neutral” rating in a research note on Friday, February 2nd. Truist Financial lifted their price objective on Tractor Supply from $277.00 to $289.00 and gave the company a “buy” rating in a research report on Friday. Wells Fargo & Company increased their target price on Tractor Supply from $250.00 to $285.00 and gave the stock an “overweight” rating in a research report on Monday, March 25th. Benchmark reissued a “buy” rating and issued a $256.00 price target on shares of Tractor Supply in a research note on Monday, April 22nd. Finally, TD Cowen upped their price objective on shares of Tractor Supply from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Tractor Supply currently has a consensus rating of “Hold” and a consensus target price of $248.17.

Tractor Supply Stock Up 3.3 %

TSCO opened at $273.90 on Monday. The firm has a market cap of $29.56 billion, a P/E ratio of 26.67, a PEG ratio of 4.10 and a beta of 0.84. The business’s fifty day simple moving average is $252.44 and its 200 day simple moving average is $226.90. Tractor Supply has a 52 week low of $185.00 and a 52 week high of $274.66. The company has a quick ratio of 0.28, a current ratio of 1.40 and a debt-to-equity ratio of 0.83.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. OFI Invest Asset Management bought a new stake in shares of Tractor Supply during the 3rd quarter worth about $25,000. Future Financial Wealth Managment LLC bought a new position in shares of Tractor Supply in the first quarter valued at approximately $26,000. Private Wealth Management Group LLC acquired a new position in shares of Tractor Supply during the fourth quarter valued at approximately $27,000. Pinnacle Bancorp Inc. bought a new stake in Tractor Supply during the fourth quarter worth approximately $28,000. Finally, Rise Advisors LLC lifted its position in Tractor Supply by 157.1% in the first quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock worth $28,000 after purchasing an additional 66 shares during the period. 98.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tractor Supply

In other news, EVP Robert D. Mills sold 48,334 shares of the stock in a transaction dated 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 owns 22,167 shares of the company’s stock, valued at $5,147,842.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Tractor Supply news, EVP Robert D. Mills sold 48,334 shares of the stock in a transaction 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 sale, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jonathan S. Estep sold 7,120 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $232.26, for a total transaction of $1,653,691.20. Following the sale, the executive vice president now owns 13,605 shares in the company, valued at approximately $3,159,897.30. The disclosure for this sale can be found here. Insiders have sold 90,090 shares of company stock valued at $21,201,877 over the last ninety days. Corporate insiders own 0.24% of the company’s stock.

Tractor Supply Increases Dividend

The business 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. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Friday, February 23rd. This is a positive change from Tractor Supply’s previous quarterly dividend of $1.03. Tractor Supply’s payout ratio is 42.84%.

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.