Telsey Advisory Group Weighs in on Tractor Supply’s Q2 2024 Earnings (NASDAQ:TSCO)

Tractor Supply (NASDAQ:TSCO) – Equities research analysts at Telsey Advisory Group raised their Q2 2024 earnings per share estimates for Tractor Supply in a note issued to investors on Thursday, April 25th. Telsey Advisory Group analyst J. Feldman now expects that the specialty retailer will post earnings per share of $3.93 for the quarter, up from their previous estimate of $3.90. Telsey Advisory Group has a “Outperform” rating and a $275.00 price target on the stock. The consensus estimate for Tractor Supply’s current full-year earnings is $10.26 per share. Telsey Advisory Group also issued estimates for Tractor Supply’s Q3 2024 earnings at $2.25 EPS, Q4 2024 earnings at $2.39 EPS, FY2024 earnings at $10.40 EPS, Q1 2025 earnings at $1.99 EPS, Q2 2025 earnings at $4.33 EPS, Q3 2025 earnings at $2.49 EPS and FY2025 earnings at $11.43 EPS.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.13. 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 during the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter last year, the company posted $1.65 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis.

Other analysts have also recently issued research reports about the stock. Robert W. Baird raised their price objective on shares of Tractor Supply from $260.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Benchmark restated a “buy” rating and set a $256.00 price target on shares of Tractor Supply in a research report on Monday, April 22nd. Morgan Stanley increased their price objective on Tractor Supply from $195.00 to $235.00 and gave the company an “underweight” rating in a research report on Friday, April 26th. Evercore ISI raised their price objective on Tractor Supply from $275.00 to $280.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Finally, The Goldman Sachs Group upped their target price on Tractor Supply from $230.00 to $262.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $250.00.

Tractor Supply Trading Down 1.7 %

Shares of Tractor Supply stock opened at $273.08 on Monday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.40 and a quick ratio of 0.19. Tractor Supply has a 1 year low of $185.00 and a 1 year high of $279.38. The firm has a market cap of $29.47 billion, a PE ratio of 26.59, a PEG ratio of 3.47 and a beta of 0.84. The company has a 50 day simple moving average of $253.27 and a two-hundred day simple moving average of $227.47.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TSCO. Wellington Management Group LLP raised its holdings in Tractor Supply by 9,370.6% in the third quarter. Wellington Management Group LLP now owns 2,822,151 shares of the specialty retailer’s stock worth $573,038,000 after purchasing an additional 2,792,352 shares in the last quarter. Norges Bank purchased a new position in shares of Tractor Supply in the 4th quarter worth $260,560,000. Invesco Ltd. boosted its stake in shares of Tractor Supply by 76.7% during the 3rd quarter. Invesco Ltd. now owns 2,024,182 shares of the specialty retailer’s stock worth $411,010,000 after acquiring an additional 878,874 shares during the last quarter. Capital World Investors grew its holdings in Tractor Supply by 10.0% during the fourth quarter. Capital World Investors now owns 5,849,188 shares of the specialty retailer’s stock valued at $1,257,751,000 after purchasing an additional 531,170 shares during the period. Finally, Capital International Investors boosted its position in shares of Tractor Supply by 7.6% in the fourth quarter. Capital International Investors now owns 6,233,852 shares of the specialty retailer’s stock worth $1,340,589,000 after purchasing an additional 439,954 shares during the period. Institutional investors own 98.72% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Robert D. Mills sold 48,334 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 22,167 shares of the company’s stock, valued at $5,147,842.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Robert D. Mills sold 48,334 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $232.23, for a total value 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Harry A. Lawton III sold 20,500 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $232.93, for a total transaction of $4,775,065.00. Following the transaction, the chief executive officer now owns 95,192 shares in the company, valued at approximately $22,173,072.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 90,090 shares of company stock worth $21,201,877. 0.58% of the stock is currently owned by company insiders.

Tractor Supply Increases Dividend

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

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.