Tractor Supply (NASDAQ:TSCO) – Stock analysts at Piper Jaffray Companies upped their Q3 2018 earnings per share estimates for shares of Tractor Supply in a research note issued on Tuesday, October 16th, Zacks Investment Research reports. Piper Jaffray Companies analyst P. Keith now forecasts that the specialty retailer will post earnings of $0.89 per share for the quarter, up from their previous estimate of $0.86. Piper Jaffray Companies has a “Overweight” rating and a $102.00 price objective on the stock. Piper Jaffray Companies also issued estimates for Tractor Supply’s Q2 2019 earnings at $1.87 EPS and Q3 2019 earnings at $1.00 EPS.
Several other analysts have also weighed in on TSCO. Robert W. Baird boosted their target price on shares of Tractor Supply from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Monday, July 16th. Citigroup boosted their target price on shares of Tractor Supply to $75.00 and gave the company a “hold” rating in a research note on Tuesday, July 17th. Zacks Investment Research upgraded shares of Tractor Supply from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research note on Tuesday, July 17th. Wedbush boosted their target price on shares of Tractor Supply from $65.00 to $77.00 and gave the company a “neutral” rating in a research note on Wednesday, July 18th. Finally, BidaskClub upgraded shares of Tractor Supply from a “hold” rating to a “buy” rating in a research note on Thursday, July 19th. Twelve equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Tractor Supply has a consensus rating of “Buy” and an average target price of $87.73.
Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Thursday, October 25th. The specialty retailer reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.08. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.82 billion. Tractor Supply had a net margin of 6.54% and a return on equity of 36.23%.
Several institutional investors have recently added to or reduced their stakes in TSCO. Cubist Systematic Strategies LLC lifted its holdings in Tractor Supply by 74.9% in the second quarter. Cubist Systematic Strategies LLC now owns 12,515 shares of the specialty retailer’s stock worth $957,000 after purchasing an additional 5,361 shares during the period. Swiss National Bank lifted its holdings in Tractor Supply by 2.7% in the second quarter. Swiss National Bank now owns 415,400 shares of the specialty retailer’s stock worth $31,774,000 after purchasing an additional 11,000 shares during the period. Ridgewood Investments LLC lifted its holdings in Tractor Supply by 17.2% in the second quarter. Ridgewood Investments LLC now owns 11,768 shares of the specialty retailer’s stock worth $900,000 after purchasing an additional 1,725 shares during the period. Sentry Investment Management LLC acquired a new stake in Tractor Supply in the second quarter worth about $665,000. Finally, Bank of America Corp DE lifted its holdings in Tractor Supply by 0.5% in the second quarter. Bank of America Corp DE now owns 546,086 shares of the specialty retailer’s stock worth $41,771,000 after purchasing an additional 2,625 shares during the period. Institutional investors and hedge funds own 82.02% of the company’s stock.
In other news, SVP Chad Michael Frazell sold 19,818 shares of the company’s stock in a transaction dated Thursday, November 8th. The shares were sold at an average price of $96.65, for a total transaction of $1,915,409.70. Following the completion of the transaction, the senior vice president now owns 28,961 shares in the company, valued at $2,799,080.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kurt D. Barton sold 11,156 shares of the company’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $86.74, for a total transaction of $967,671.44. Following the transaction, the chief financial officer now owns 32,327 shares of the company’s stock, valued at approximately $2,804,043.98. The disclosure for this sale can be found here. Insiders have sold 224,348 shares of company stock valued at $20,263,980 in the last 90 days. Insiders own 1.60% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 11th. Stockholders of record on Monday, November 26th will be given a dividend of $0.31 per share. The ex-dividend date is Friday, November 23rd. This represents a $1.24 annualized dividend and a dividend yield of 1.28%. Tractor Supply’s dividend payout ratio is currently 37.24%.
About Tractor Supply
Tractor Supply Company operates rural lifestyle retail stores 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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