Equities analysts expect Tractor Supply (NASDAQ:TSCO) to report sales of $2.09 billion for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Tractor Supply’s earnings, with estimates ranging from $2.08 billion to $2.11 billion. Tractor Supply reported sales of $1.95 billion in the same quarter last year, which would suggest a positive year over year growth rate of 7.2%. The company is expected to issue its next earnings report on Wednesday, January 30th.
On average, analysts expect that Tractor Supply will report full-year sales of $7.87 billion for the current fiscal year, with estimates ranging from $7.86 billion to $7.89 billion. For the next financial year, analysts forecast that the firm will report sales of $8.43 billion, with estimates ranging from $8.33 billion to $8.67 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Tractor Supply.
Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Thursday, October 25th. The specialty retailer reported $0.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.08. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.82 billion. Tractor Supply had a net margin of 6.54% and a return on equity of 36.23%.
Several equities research analysts have recently commented on the stock. ValuEngine upgraded shares of Tractor Supply from a “hold” rating to a “buy” rating in a research note on Tuesday, August 14th. Oppenheimer lifted their price objective on shares of Tractor Supply from $80.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, August 17th. BidaskClub upgraded shares of Tractor Supply from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 25th. Zacks Investment Research upgraded shares of Tractor Supply from a “hold” rating to a “buy” rating and set a $97.00 price objective for the company in a research note on Tuesday, August 28th. Finally, Morgan Stanley lifted their price objective on shares of Tractor Supply from $75.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 11th. Twelve research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Tractor Supply has an average rating of “Buy” and an average price target of $88.05.
In related news, EVP Benjamin F. Parrish, Jr. sold 25,252 shares of the firm’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $89.62, for a total transaction of $2,263,084.24. Following the completion of the transaction, the executive vice president now owns 28,700 shares of the company’s stock, valued at $2,572,094. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Steve K. Barbarick sold 21,257 shares of the firm’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $89.12, for a total transaction of $1,894,423.84. Following the transaction, the chief operating officer now directly owns 78,210 shares of the company’s stock, valued at approximately $6,970,075.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,605 shares of company stock valued at $8,041,912. 1.60% of the stock is currently owned by corporate insiders.
Several institutional investors have recently modified their holdings of TSCO. Boston Partners purchased a new position in shares of Tractor Supply during the second quarter worth $118,735,000. JPMorgan Chase & Co. raised its holdings in shares of Tractor Supply by 73.0% during the third quarter. JPMorgan Chase & Co. now owns 2,339,567 shares of the specialty retailer’s stock worth $212,619,000 after purchasing an additional 987,193 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Tractor Supply during the third quarter worth $89,427,000. Morgan Stanley raised its holdings in shares of Tractor Supply by 211.2% during the second quarter. Morgan Stanley now owns 1,244,467 shares of the specialty retailer’s stock worth $95,190,000 after purchasing an additional 844,609 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in Tractor Supply by 12.3% in the second quarter. Janus Henderson Group PLC now owns 4,473,406 shares of the specialty retailer’s stock valued at $342,171,000 after buying an additional 488,863 shares in the last quarter. 81.93% of the stock is owned by hedge funds and other institutional investors.
Shares of TSCO opened at $92.37 on Friday. The company has a market capitalization of $11.35 billion, a price-to-earnings ratio of 27.74, a PEG ratio of 1.78 and a beta of 1.22. Tractor Supply has a twelve month low of $58.27 and a twelve month high of $97.65. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.99 and a quick ratio of 0.21.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 11th. Investors of record on Monday, November 26th will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, November 23rd. This represents a $1.24 annualized dividend and a dividend yield of 1.34%. Tractor Supply’s dividend payout ratio (DPR) is presently 37.24%.
About Tractor Supply
Tractor Supply Company operates rural lifestyle retail stores in the United States. The company offers a selection of merchandise, including equine, livestock, pet, and small animal products necessary for their health, care, growth, and containment; hardware, truck, towing, and tool products; seasonal products, such as heating products, lawn and garden items, power equipment, gifts, and toys; work/recreational clothing and footwear; and maintenance products for agricultural and rural use.
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