Tractor Supply (NASDAQ:TSCO) Posts Earnings Results, Beats Estimates By $0.13 EPS

Tractor Supply (NASDAQ:TSCO) issued its earnings results on Thursday. The specialty retailer reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.13, Briefing.com reports. Tractor Supply had a net margin of 7.61% and a return on equity of 53.60%. The company had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same period in the prior year, the business earned $1.65 EPS. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. Tractor Supply updated its FY24 guidance to $9.85-10.50 EPS and its FY 2024 guidance to 9.850-10.500 EPS.

Tractor Supply Stock Performance

Shares of Tractor Supply stock traded up $8.64 during trading hours on Friday, hitting $273.90. 1,599,523 shares of the company were exchanged, compared to its average volume of 1,172,440. Tractor Supply has a 1 year low of $185.00 and a 1 year high of $274.66. The company has a current ratio of 1.50, a quick ratio of 0.28 and a debt-to-equity ratio of 0.82. The business has a 50-day moving average of $252.44 and a 200-day moving average of $226.59. The stock has a market capitalization of $29.56 billion, a price-to-earnings ratio of 27.15, a P/E/G ratio of 3.88 and a beta of 0.84.

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were issued a $1.10 dividend. This is an increase from Tractor Supply’s previous quarterly dividend of $1.03. This represents a $4.40 annualized dividend and a dividend yield of 1.61%. The ex-dividend date was Friday, February 23rd. Tractor Supply’s dividend payout ratio is presently 43.61%.

Insider Transactions at Tractor Supply

In other Tractor Supply news, EVP Robert D. Mills sold 48,334 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was 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 owns 22,167 shares of the company’s stock, valued at $5,147,842.41. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Tractor Supply news, CEO Harry A. Lawton III sold 20,500 shares of Tractor Supply stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $232.93, for a total value of $4,775,065.00. Following the completion of the sale, the chief executive officer now owns 95,192 shares in the company, valued at approximately $22,173,072.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert D. Mills sold 48,334 shares of Tractor Supply 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 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 sold 90,090 shares of company stock worth $21,201,877 over the last 90 days. 0.24% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Truist Financial increased their target price on shares of Tractor Supply from $277.00 to $289.00 and gave the stock a “buy” rating in a report on Friday. Robert W. Baird increased 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. Mizuho reissued a “neutral” rating and set a $250.00 price target (up from $245.00) on shares of Tractor Supply in a research report on Friday. Guggenheim raised their price target on shares of Tractor Supply from $210.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Finally, UBS Group raised their price target on shares of Tractor Supply from $220.00 to $240.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $248.17.

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.