Wedbush Comments on Tractor Supply’s Q2 2024 Earnings (NASDAQ:TSCO)

Tractor Supply (NASDAQ:TSCO) – Equities research analysts at Wedbush lifted their Q2 2024 earnings estimates for shares of Tractor Supply in a report released on Friday, April 26th. Wedbush analyst S. Basham now anticipates that the specialty retailer will post earnings per share of $4.00 for the quarter, up from their prior estimate of $3.96. Wedbush currently has a “Neutral” rating and a $235.00 target price on the stock. The consensus estimate for Tractor Supply’s current full-year earnings is $10.26 per share. Wedbush also issued estimates for Tractor Supply’s Q3 2024 earnings at $2.22 EPS, Q4 2024 earnings at $2.38 EPS, FY2024 earnings at $10.42 EPS and FY2025 earnings at $11.59 EPS.

Tractor Supply (NASDAQ:TSCO) last posted its earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.13. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The firm had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same quarter in the previous year, the firm posted $1.65 earnings per share. The company’s revenue was up 2.8% on a year-over-year basis.

A number of other brokerages have also commented on TSCO. Wells Fargo & Company lifted their price target on Tractor Supply from $250.00 to $285.00 and gave the company an “overweight” rating in a research note on Monday, March 25th. UBS Group boosted their target price on shares of Tractor Supply from $220.00 to $240.00 and gave the stock a “neutral” rating in a report on Friday, February 2nd. The Goldman Sachs Group upped their price target on shares of Tractor Supply from $230.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Truist Financial lifted 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. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $275.00 price objective on shares of Tractor Supply in a research note on Thursday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $248.17.

Tractor Supply Trading Up 3.3 %

Shares of TSCO stock opened at $273.90 on Monday. Tractor Supply has a twelve month low of $185.00 and a twelve month high of $274.66. The stock’s fifty day simple moving average is $252.44 and its 200 day simple moving average is $226.90. The company has a quick ratio of 0.28, a current ratio of 1.40 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $29.56 billion, a P/E ratio of 26.67, a P/E/G ratio of 4.10 and a beta of 0.84.

Institutional Investors Weigh In On Tractor Supply

Institutional investors have recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC purchased a new stake in shares of Tractor Supply during the first quarter valued at approximately $26,000. Rise Advisors LLC raised its stake in shares of Tractor Supply by 157.1% during the 1st quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock worth $28,000 after purchasing an additional 66 shares during the period. Private Wealth Management Group LLC bought a new stake in shares of Tractor Supply during the 4th quarter worth $27,000. OFI Invest Asset Management purchased a new position in shares of Tractor Supply in the 3rd quarter worth about $25,000. Finally, Pinnacle Bancorp Inc. bought a new position in Tractor Supply during the fourth quarter valued at about $28,000. 98.72% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Tractor Supply 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 sale, the chief financial officer now owns 25,013 shares in the company, valued at approximately $5,804,516.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Kurt D. Barton sold 401 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $232.06, for a total value of $93,056.06. Following the transaction, the chief financial officer now owns 25,013 shares of the company’s stock, valued at approximately $5,804,516.78. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Robert D. Mills sold 48,334 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 22,167 shares of the company’s stock, valued at $5,147,842.41. The disclosure for this sale can be found here. Insiders have sold a total of 90,090 shares of company stock worth $21,201,877 in the last ninety days. Corporate insiders own 0.24% of the company’s stock.

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 dividend of $1.10 per share. This is an increase from Tractor Supply’s previous quarterly dividend of $1.03. The ex-dividend date was Friday, February 23rd. This represents a $4.40 annualized dividend and a dividend yield of 1.61%. Tractor Supply’s payout ratio is currently 42.84%.

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.