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

Tractor Supply (NASDAQ:TSCO) hit a new 52-week high during trading on Friday following a better than expected earnings announcement. The stock traded as high as $270.91 and last traded at $269.97, with a volume of 173077 shares traded. The stock had previously closed at $265.26.

The specialty retailer reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.13. Tractor Supply had a return on equity of 53.60% and a net margin of 7.61%. The business had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter last year, the business posted $1.65 earnings per share. The business’s quarterly revenue was up 2.8% compared to the same quarter last year.

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were issued a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 1.61%. The ex-dividend date was Friday, February 23rd. This is a boost from Tractor Supply’s previous quarterly dividend of $1.03. Tractor Supply’s dividend payout ratio (DPR) is currently 43.61%.

Wall Street Analyst Weigh In

TSCO has been the subject of several recent research reports. Robert W. Baird increased their price target on Tractor Supply from $260.00 to $285.00 and gave the company an “outperform” rating in a report on Friday. Morgan Stanley reaffirmed an “underweight” rating and issued a $195.00 price target on shares of Tractor Supply in a report on Tuesday, January 16th. Benchmark reissued a “buy” rating and set a $256.00 target price on shares of Tractor Supply in a research note on Monday. UBS Group lifted their target price on Tractor Supply from $220.00 to $240.00 and gave the company a “neutral” rating in a research report on Friday, February 2nd. Finally, Evercore ISI cut their price objective on Tractor Supply from $280.00 to $275.00 and set an “outperform” rating on the stock in a report on Tuesday, April 16th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Tractor Supply presently has an average rating of “Hold” and a consensus price target of $242.74.

Insider Activity

In other news, CFO Kurt D. Barton sold 4,335 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $257.00, for a total value of $1,114,095.00. Following the completion of the sale, the chief financial officer now directly owns 20,678 shares of the company’s stock, valued at approximately $5,314,246. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tractor Supply news, CFO Kurt D. Barton sold 4,335 shares of the company’s stock in a transaction that occurred 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 directly owns 20,678 shares of the company’s stock, valued at approximately $5,314,246. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 sale, the chief financial officer now directly owns 25,013 shares of the company’s stock, valued at $5,804,516.78. The disclosure for this sale can be found here. In the last three months, insiders sold 90,090 shares of company stock valued at $21,201,877. Insiders own 0.24% of the company’s stock.

Institutional Trading of Tractor Supply

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Future Financial Wealth Managment LLC purchased a new position in shares of Tractor Supply during the 1st quarter worth approximately $26,000. Rise Advisors LLC raised its stake in shares of Tractor Supply by 157.1% during the 1st quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock worth $28,000 after buying an additional 66 shares in the last quarter. Private Wealth Management Group LLC purchased a new position in shares of Tractor Supply during the 4th quarter worth approximately $27,000. OFI Invest Asset Management purchased a new position in shares of Tractor Supply during the 3rd quarter worth approximately $25,000. Finally, Pinnacle Bancorp Inc. purchased a new position in shares of Tractor Supply during the 4th quarter worth approximately $28,000. 98.72% of the stock is owned by hedge funds and other institutional investors.

Tractor Supply Trading Up 2.9 %

The firm has a market capitalization of $29.45 billion, a PE ratio of 27.04, a P/E/G ratio of 3.88 and a beta of 0.84. The business has a 50 day moving average price of $251.70 and a 200-day moving average price of $226.10. The company has a current ratio of 1.50, a quick ratio of 0.28 and a debt-to-equity ratio of 0.82.

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.