Tractor Supply (NASDAQ:TSCO) Releases Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Tractor Supply (NASDAQ:TSCO) posted its quarterly earnings data on Thursday. The specialty retailer reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.13, Briefing.com reports. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The company had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same period in the prior year, the company posted $1.65 earnings per share. Tractor Supply’s revenue for the quarter was up 2.8% compared to the same quarter last year. Tractor Supply updated its FY24 guidance to $9.85-10.50 EPS and its FY 2024 guidance to 9.850-10.500 EPS.

Tractor Supply Stock Up 3.3 %

Tractor Supply stock opened at $273.90 on Friday. Tractor Supply has a 1-year low of $185.00 and a 1-year high of $274.66. The firm has a market capitalization of $29.56 billion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 4.10 and a beta of 0.84. The firm’s fifty day moving average price is $252.44 and its two-hundred day moving average price is $226.74. The company has a current ratio of 1.40, a quick ratio of 0.28 and a debt-to-equity ratio of 0.83.

Tractor Supply Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders 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%. This is a positive change from Tractor Supply’s previous quarterly dividend of $1.03. The ex-dividend date was Friday, February 23rd. Tractor Supply’s dividend payout ratio (DPR) is 42.84%.

Analyst Ratings Changes

TSCO has been the subject of several recent analyst reports. Robert W. Baird increased their price objective on shares of Tractor Supply from $260.00 to $285.00 and gave the stock an “outperform” rating in a research report on Friday. Stephens cut shares of Tractor Supply from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $226.00 to $240.00 in a research report on Tuesday, January 23rd. Barclays increased their price objective on shares of Tractor Supply from $234.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Friday. Morgan Stanley increased their target price on shares of Tractor Supply from $195.00 to $235.00 and gave the stock an “underweight” rating in a research note on Friday. Finally, Wells Fargo & Company increased their target price on shares of Tractor Supply from $250.00 to $285.00 and gave the stock an “overweight” rating in a research note on Monday, March 25th. Two equities research 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. Based on data from MarketBeat.com, Tractor Supply has an average rating of “Hold” and an average target price of $248.17.

Insider Activity at Tractor Supply

In related news, CFO Kurt D. Barton sold 4,335 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the transaction, the chief financial officer now directly owns 20,678 shares of the company’s stock, valued at $5,314,246. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Robert D. Mills sold 48,334 shares of the firm’s 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 directly owns 22,167 shares of the company’s stock, valued at $5,147,842.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kurt D. Barton sold 4,335 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the transaction, the chief financial officer now directly owns 20,678 shares in the company, valued at $5,314,246. 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.

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.