Tractor Supply (NASDAQ:TSCO) Sets New 1-Year High After Better-Than-Expected Earnings

Shares of Tractor Supply (NASDAQ:TSCO) reached a new 52-week high on Friday following a stronger than expected earnings report. 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 the consensus estimate of $3.40 billion. Tractor Supply had a net margin of 7.61% and a return on equity of 53.60%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.65 EPS.

Tractor Supply Increases Dividend

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on TSCO shares. Stephens downgraded shares of Tractor Supply from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $226.00 to $240.00 in a report on Tuesday, January 23rd. Morgan Stanley boosted their price target on shares of Tractor Supply from $195.00 to $235.00 and gave the stock an “underweight” rating in a report on Friday. The Goldman Sachs Group boosted their price target on shares of Tractor Supply from $230.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Benchmark reissued a “buy” rating and issued a $256.00 price target on shares of Tractor Supply in a report on Monday, April 22nd. Finally, Truist Financial boosted their price target on shares of Tractor Supply from $277.00 to $289.00 and gave the stock a “buy” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $248.17.

Insider Activity at Tractor Supply

In other Tractor Supply news, CEO Harry A. Lawton III sold 20,500 shares of the stock in a transaction that occurred on 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 directly owns 95,192 shares in the company, valued at $22,173,072.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Tractor Supply news, CEO Harry A. Lawton III sold 20,500 shares of the stock in a transaction that occurred on 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 directly owns 95,192 shares in the company, valued at $22,173,072.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Matthew L. Rubin sold 725 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $238.09, for a total transaction of $172,615.25. Following the transaction, the senior vice president now owns 5,710 shares in the company, valued at $1,359,493.90. The disclosure for this sale can be found here. Insiders have sold 90,090 shares of company stock valued at $21,201,877 over the last three months. 0.24% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. WCM Investment Management LLC bought a new position in shares of Tractor Supply in the fourth quarter worth approximately $782,000. LPL Financial LLC lifted its position in Tractor Supply by 4.6% during the third quarter. LPL Financial LLC now owns 113,873 shares of the specialty retailer’s stock valued at $23,122,000 after buying an additional 5,014 shares during the period. Impax Asset Management Group plc lifted its position in Tractor Supply by 2,120.1% during the fourth quarter. Impax Asset Management Group plc now owns 121,817 shares of the specialty retailer’s stock valued at $26,194,000 after buying an additional 116,330 shares during the period. Simon Quick Advisors LLC raised its position in shares of Tractor Supply by 21.1% in the 3rd quarter. Simon Quick Advisors LLC now owns 1,551 shares of the specialty retailer’s stock worth $315,000 after purchasing an additional 270 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of Tractor Supply by 32,987.5% in the 4th quarter. International Assets Investment Management LLC now owns 270,325 shares of the specialty retailer’s stock worth $58,128,000 after purchasing an additional 269,508 shares during the last quarter. Institutional investors own 98.72% of the company’s stock.

Tractor Supply Trading Up 3.3 %

The firm has a 50-day moving average price of $252.44 and a 200-day moving average price of $226.59. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.28 and a current ratio of 1.50. The stock has a market cap of $29.56 billion, a PE ratio of 27.15, a price-to-earnings-growth ratio of 3.88 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.