DA Davidson Increases Earnings Estimates for Tractor Supply

Tractor Supply (NASDAQ:TSCO) – Research analysts at DA Davidson upped their Q3 2024 EPS estimates for shares of Tractor Supply in a note issued to investors on Tuesday, October 22nd. DA Davidson analyst M. Baker now forecasts that the specialty retailer will post earnings of $2.23 per share for the quarter, up from their previous forecast of $2.18. The consensus estimate for Tractor Supply’s current full-year earnings is $10.23 per share.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings results on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $3.93. The firm had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.28 billion. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.83 earnings per share.

Several other analysts also recently issued reports on the company. Wedbush reiterated a “neutral” rating and issued a $270.00 price target on shares of Tractor Supply in a report on Friday, July 26th. Melius Research began coverage on Tractor Supply in a research report on Monday, September 23rd. They issued a “buy” rating and a $315.00 target price on the stock. Wells Fargo & Company increased their target price on Tractor Supply from $295.00 to $325.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Truist Financial boosted their price target on shares of Tractor Supply from $293.00 to $325.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Evercore ISI cut shares of Tractor Supply from an “outperform” rating to an “in-line” rating and set a $300.00 price objective on the stock. in a report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Tractor Supply has an average rating of “Moderate Buy” and an average price target of $272.50.

Tractor Supply Price Performance

Tractor Supply stock opened at $291.44 on Wednesday. The firm has a fifty day moving average of $280.61 and a 200-day moving average of $272.47. Tractor Supply has a 52-week low of $185.00 and a 52-week high of $307.64. The company has a quick ratio of 0.25, a current ratio of 1.43 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $31.42 billion, a P/E ratio of 28.38, a PEG ratio of 3.74 and a beta of 0.80.

Institutional Investors Weigh In On Tractor Supply

Several hedge funds have recently modified their holdings of the business. Future Financial Wealth Managment LLC acquired a new stake in Tractor Supply in the 1st quarter worth $26,000. LRI Investments LLC acquired a new position in Tractor Supply in the 1st quarter valued at approximately $28,000. Whittier Trust Co. raised its holdings in Tractor Supply by 60.9% in the 2nd quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock valued at $30,000 after acquiring an additional 42 shares in the last quarter. J.Safra Asset Management Corp lifted its position in shares of Tractor Supply by 700.0% in the 1st quarter. J.Safra Asset Management Corp now owns 112 shares of the specialty retailer’s stock worth $29,000 after acquiring an additional 98 shares during the period. Finally, OFI Invest Asset Management acquired a new stake in shares of Tractor Supply during the 2nd quarter worth approximately $33,000. 98.72% of the stock is owned by institutional investors.

Insider Activity

In related news, SVP Matthew L. Rubin sold 540 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $262.35, for a total transaction of $141,669.00. Following the transaction, the senior vice president now directly owns 5,170 shares of the company’s stock, valued at approximately $1,356,349.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Tractor Supply news, SVP Matthew L. Rubin sold 540 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $262.35, for a total transaction of $141,669.00. Following the transaction, the senior vice president now directly owns 5,170 shares of the company’s stock, valued at $1,356,349.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kurt D. Barton sold 23,532 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total value of $6,957,000.48. Following the sale, the chief financial officer now owns 9,683 shares of the company’s stock, valued at approximately $2,862,682.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.24% of the stock is owned by corporate insiders.

Tractor Supply Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were paid a dividend of $1.10 per share. The ex-dividend date was Monday, August 26th. This represents a $4.40 annualized dividend and a yield of 1.51%. Tractor Supply’s dividend payout ratio (DPR) is presently 42.84%.

Tractor Supply Company Profile

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.