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

Tractor Supply (NASDAQ:TSCO) announced its earnings results on Thursday. The specialty retailer reported $1.83 EPS for the quarter, topping the consensus estimate of $1.70 by $0.13, Briefing.com reports. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. The firm had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same quarter in the previous year, the company earned $1.65 earnings per share. The firm’s quarterly revenue 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 Trading Up 3.3 %

Shares of NASDAQ:TSCO opened at $273.90 on Friday. The stock has a market capitalization of $29.56 billion, a PE ratio of 26.67, a P/E/G ratio of 4.10 and a beta of 0.84. Tractor Supply has a 1 year low of $185.00 and a 1 year high of $274.66. The firm has a fifty day moving average price of $252.44 and a 200 day moving average price of $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. Investors 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 a boost 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 dividend payout ratio is currently 42.84%.

Insider Buying and Selling

In related news, CFO Kurt D. Barton sold 401 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 25,013 shares in the company, valued at $5,804,516.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Kurt D. Barton sold 401 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 25,013 shares in the company, valued at $5,804,516.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kurt D. Barton sold 4,335 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the completion of the sale, the chief financial officer now owns 20,678 shares of the company’s stock, valued at $5,314,246. The disclosure for this sale can be found here. Over the last three months, insiders sold 90,090 shares of company stock worth $21,201,877. Corporate insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TSCO. Truist Financial boosted their target price on Tractor Supply from $277.00 to $289.00 and gave the stock a “buy” rating in a report on Friday. Barclays upped their price target on Tractor Supply from $234.00 to $240.00 and gave the company an “equal weight” rating in a report on Friday. TD Cowen upped their price target on Tractor Supply from $250.00 to $270.00 and gave the company a “buy” rating in a report on Friday. Guggenheim upped their price target on Tractor Supply from $210.00 to $255.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Raymond James upped their price target on Tractor Supply from $250.00 to $285.00 and gave the company an “outperform” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $248.17.

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.