Tractor Supply (NASDAQ:TSCO) Hits New 52-Week High After Better-Than-Expected Earnings

Tractor Supply (NASDAQ:TSCO) reached a new 52-week high on Friday following a better than expected earnings announcement. The company traded as high as $270.91 and last traded at $269.97, with a volume of 173077 shares. The stock had previously closed at $265.26.

The specialty retailer reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.13. The company had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.40 billion. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.65 earnings per share.

Tractor Supply Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were paid a dividend of $1.10 per share. This is a boost 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 annualized dividend and a yield of 1.61%. Tractor Supply’s dividend payout ratio (DPR) is 42.84%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Barclays raised their price target on Tractor Supply from $234.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Friday. Morgan Stanley lifted their price objective on Tractor Supply from $195.00 to $235.00 and gave the company an “underweight” rating in a research note on Friday. TD Cowen lifted their price objective on Tractor Supply from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Friday. Wells Fargo & Company lifted their price objective on Tractor Supply from $250.00 to $285.00 and gave the company an “overweight” rating in a research note on Monday, March 25th. Finally, Truist Financial lifted their price objective on Tractor Supply from $277.00 to $289.00 and gave the company a “buy” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $248.17.

Insider Buying and Selling

In related news, CFO Kurt D. Barton sold 401 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $232.06, for a total transaction of $93,056.06. Following the completion of the transaction, the chief financial officer now owns 25,013 shares in the company, valued at $5,804,516.78. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Kurt D. Barton sold 401 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $232.06, for a total transaction of $93,056.06. Following the completion of the transaction, the chief financial officer now owns 25,013 shares in the company, valued at $5,804,516.78. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Kurt D. Barton sold 4,335 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the transaction, the chief financial officer now owns 20,678 shares of the company’s stock, valued at approximately $5,314,246. The disclosure for this sale can be found here. Over the last quarter, insiders sold 90,090 shares of company stock worth $21,201,877. Corporate insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On Tractor Supply

Large investors have recently bought and sold shares of the stock. OFI Invest Asset Management acquired a new position in Tractor Supply in the third quarter valued at $25,000. Future Financial Wealth Managment LLC acquired a new position in Tractor Supply in the first quarter valued at $26,000. Private Wealth Management Group LLC acquired a new position in Tractor Supply in the fourth quarter valued at $27,000. Pinnacle Bancorp Inc. acquired a new position in Tractor Supply in the fourth quarter valued at $28,000. Finally, Rise Advisors LLC boosted its stake in Tractor Supply by 157.1% in the first quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock valued at $28,000 after acquiring an additional 66 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Tractor Supply Stock Up 3.3 %

The company has a debt-to-equity ratio of 0.83, a current ratio of 1.40 and a quick ratio of 0.28. The company has a market cap of $29.56 billion, a price-to-earnings ratio of 26.67, a P/E/G ratio of 3.97 and a beta of 0.84. The firm’s 50 day simple moving average is $252.44 and its 200-day simple moving average is $226.74.

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.