DA Davidson Predicts Increased Earnings for Tractor Supply

Tractor Supply (NASDAQ:TSCO) – Investment analysts at DA Davidson boosted their FY2024 EPS estimates for shares of Tractor Supply in a research report issued to clients and investors on Tuesday, October 22nd. DA Davidson analyst M. Baker now anticipates that the specialty retailer will post earnings of $10.33 per share for the year, up from their prior forecast of $10.27. The consensus estimate for Tractor Supply’s current full-year earnings is $10.23 per share. DA Davidson also issued estimates for Tractor Supply’s FY2025 earnings at $11.47 EPS.

Several other analysts also recently weighed in on TSCO. Benchmark reiterated a “buy” rating and set a $280.00 price target on shares of Tractor Supply in a research note on Monday. Telsey Advisory Group reaffirmed an “outperform” rating and set a $335.00 target price on shares of Tractor Supply in a report on Thursday. Citigroup downgraded shares of Tractor Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. Truist Financial lifted their price objective on shares of Tractor Supply from $293.00 to $325.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, Melius Research started coverage on shares of Tractor Supply in a report on Monday, September 23rd. They issued a “buy” rating and a $315.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $272.50.

Tractor Supply Trading Down 6.1 %

NASDAQ:TSCO opened at $274.29 on Thursday. The company has a market capitalization of $29.59 billion, a P/E ratio of 26.45, a PEG ratio of 3.66 and a beta of 0.80. The company has a current ratio of 1.43, a quick ratio of 0.25 and a debt-to-equity ratio of 0.76. Tractor Supply has a 12 month low of $185.00 and a 12 month high of $307.64. The firm has a fifty day simple moving average of $282.05 and a 200-day simple moving average of $272.89.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $3.93. The business had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.28 billion. Tractor Supply had a net margin of 7.65% and a return on equity of 51.84%. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the previous year, the company earned $3.83 earnings per share.

Institutional Investors Weigh In On Tractor Supply

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Future Financial Wealth Managment LLC acquired a new stake in shares of Tractor Supply during the 1st quarter worth about $26,000. LRI Investments LLC purchased a new stake in shares of Tractor Supply in the 1st quarter valued at approximately $28,000. Whittier Trust Co. lifted its holdings in shares of Tractor Supply by 60.9% in the 2nd quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock worth $30,000 after acquiring an additional 42 shares during the last quarter. J.Safra Asset Management Corp boosted its position in shares of Tractor Supply by 700.0% during the 1st quarter. J.Safra Asset Management Corp now owns 112 shares of the specialty retailer’s stock worth $29,000 after purchasing an additional 98 shares during the period. Finally, OFI Invest Asset Management acquired a new stake in Tractor Supply in the 2nd quarter valued at approximately $33,000. Institutional investors and hedge funds own 98.72% of the company’s stock.

Insider Activity

In other Tractor Supply news, SVP Matthew L. Rubin sold 540 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $262.35, for a total transaction of $141,669.00. Following the transaction, the senior vice president now owns 5,170 shares of the company’s stock, valued at approximately $1,356,349.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Kurt D. Barton sold 23,532 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $295.64, for a total transaction of $6,957,000.48. Following the completion of the sale, the chief financial officer now owns 9,683 shares in the company, valued at $2,862,682.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Matthew L. Rubin sold 540 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $262.35, for a total value of $141,669.00. Following the completion of the transaction, the senior vice president now owns 5,170 shares in the company, valued at $1,356,349.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

Tractor Supply Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Monday, August 26th. Tractor Supply’s dividend payout ratio is currently 42.43%.

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.