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

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

The specialty retailer reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.13. The firm had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.40 billion. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. Tractor Supply’s revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.65 earnings per share.

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Friday, February 23rd. This is a positive change from Tractor Supply’s previous quarterly dividend of $1.03. Tractor Supply’s dividend payout ratio (DPR) is 42.84%.

Analyst Ratings Changes

TSCO has been the topic of a number of research analyst reports. Telsey Advisory Group reiterated an “outperform” rating and issued a $275.00 price target on shares of Tractor Supply in a report on Thursday. Guggenheim lifted their price target on shares of Tractor Supply from $210.00 to $255.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Evercore ISI lifted their price target on shares of Tractor Supply from $275.00 to $280.00 and gave the company an “outperform” rating in a report on Friday. Morgan Stanley lifted their price target on shares of Tractor Supply from $195.00 to $235.00 and gave the company an “underweight” rating in a report on Friday. Finally, The Goldman Sachs Group raised their target price on shares of Tractor Supply from $230.00 to $262.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $248.17.

Insider Buying and Selling

In related news, EVP Robert D. Mills sold 48,334 shares of Tractor Supply stock in a transaction on 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 sale, the executive vice president now owns 22,167 shares of the company’s stock, valued at approximately $5,147,842.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Jonathan S. Estep sold 7,120 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $232.26, for a total value of $1,653,691.20. Following the completion of the sale, the executive vice president now owns 13,605 shares of the company’s stock, valued at approximately $3,159,897.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert D. Mills sold 48,334 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $232.23, for a total transaction of $11,224,604.82. Following the completion of the sale, the executive vice president now directly owns 22,167 shares of the company’s stock, valued at approximately $5,147,842.41. The disclosure for this sale can be found here. Insiders have sold 90,090 shares of company stock valued at $21,201,877 in the last quarter. Company insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On Tractor Supply

Several hedge funds and other institutional investors have recently modified their holdings of TSCO. OFI Invest Asset Management bought a new stake in shares of Tractor Supply in the 3rd quarter worth about $25,000. Future Financial Wealth Managment LLC acquired a new position in shares of Tractor Supply in the 1st quarter valued at about $26,000. Private Wealth Management Group LLC acquired a new position in shares of Tractor Supply in the 4th quarter valued at about $27,000. Pinnacle Bancorp Inc. acquired a new position in shares of Tractor Supply in the 4th quarter valued at about $28,000. Finally, Rise Advisors LLC boosted its holdings in shares of Tractor Supply by 157.1% in the 1st quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock valued at $28,000 after buying an additional 66 shares during the period. Institutional investors own 98.72% of the company’s stock.

Tractor Supply Price Performance

The company’s fifty day moving average price is $252.44 and its 200 day moving average price is $226.74. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.28 and a current ratio of 1.40. 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 3.97 and a beta of 0.84.

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.