Tractor Supply (NASDAQ:TSCO) Reaches New 52-Week High Following Better-Than-Expected Earnings

Tractor Supply (NASDAQ:TSCO) reached a new 52-week high on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $270.91 and last traded at $269.97, with a volume of 173077 shares changing hands. The stock had previously closed at $265.26.

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

Tractor Supply Increases Dividend

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

Wall Street Analysts Forecast Growth

TSCO has been the topic of a number of analyst reports. Benchmark reaffirmed a “buy” rating and set a $256.00 price objective on shares of Tractor Supply in a report on Monday. Mizuho began coverage on shares of Tractor Supply in a report on Tuesday, March 19th. They issued a “neutral” rating and a $245.00 price target on the stock. Guggenheim boosted their price target on shares of Tractor Supply from $210.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Truist Financial boosted their price target on shares of Tractor Supply from $256.00 to $277.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Finally, Morgan Stanley reissued an “underweight” rating and issued a $195.00 price target on shares of Tractor Supply in a report on Tuesday, January 16th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $242.74.

Insider Buying and Selling

In related news, SVP Matthew L. Rubin sold 725 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $238.09, for a total value of $172,615.25. Following the transaction, the senior vice president now directly owns 5,710 shares in the company, valued at $1,359,493.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Kurt D. Barton sold 401 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $232.06, for a total value of $93,056.06. Following the transaction, the chief financial officer now directly owns 25,013 shares in the company, valued at $5,804,516.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Matthew L. Rubin sold 725 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $238.09, for a total value of $172,615.25. Following the completion of the sale, the senior vice president now directly owns 5,710 shares of the company’s stock, valued at approximately $1,359,493.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,090 shares of company stock worth $21,201,877. Insiders own 0.24% of the company’s stock.

Institutional Trading of Tractor Supply

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Citizens National Bank Trust Department boosted its stake in Tractor Supply by 0.5% in the fourth quarter. Citizens National Bank Trust Department now owns 9,700 shares of the specialty retailer’s stock worth $2,086,000 after buying an additional 45 shares in the last quarter. Lindbrook Capital LLC boosted its stake in Tractor Supply by 10.9% in the first quarter. Lindbrook Capital LLC now owns 459 shares of the specialty retailer’s stock worth $120,000 after buying an additional 45 shares in the last quarter. Wedmont Private Capital boosted its stake in Tractor Supply by 3.6% in the first quarter. Wedmont Private Capital now owns 1,309 shares of the specialty retailer’s stock worth $331,000 after buying an additional 45 shares in the last quarter. Wahed Invest LLC boosted its stake in Tractor Supply by 2.8% in the fourth quarter. Wahed Invest LLC now owns 1,783 shares of the specialty retailer’s stock worth $383,000 after buying an additional 49 shares in the last quarter. Finally, Allen Capital Group LLC boosted its stake in shares of Tractor Supply by 0.6% during the third quarter. Allen Capital Group LLC now owns 8,869 shares of the specialty retailer’s stock valued at $1,805,000 after purchasing an additional 53 shares during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Stock Performance

The stock has a market cap of $29.45 billion, a PE ratio of 27.04, a price-to-earnings-growth ratio of 3.88 and a beta of 0.84. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.50 and a quick ratio of 0.28. The business has a 50 day moving average price of $251.70 and a two-hundred day moving average price of $226.10.

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.