Tractor Supply (NASDAQ:TSCO – Free Report) – KeyCorp lifted their Q3 2023 EPS estimates for shares of Tractor Supply in a research note issued on Thursday, July 27th. KeyCorp analyst B. Thomas now forecasts that the specialty retailer will post earnings of $2.36 per share for the quarter, up from their prior estimate of $2.32. The consensus estimate for Tractor Supply’s current full-year earnings is $10.28 per share. KeyCorp also issued estimates for Tractor Supply’s FY2023 earnings at $10.30 EPS and FY2024 earnings at $11.30 EPS.
Several other research firms have also commented on TSCO. UBS Group reduced their price objective on Tractor Supply from $247.00 to $230.00 and set a “neutral” rating for the company in a research note on Friday. Wedbush reduced their price objective on Tractor Supply from $240.00 to $230.00 in a research note on Friday. Wells Fargo & Company reduced their price objective on Tractor Supply from $270.00 to $255.00 and set an “overweight” rating for the company in a research note on Tuesday, July 18th. Piper Sandler reduced their price objective on Tractor Supply from $262.00 to $256.00 in a research note on Friday. Finally, Oppenheimer upped their price objective on Tractor Supply from $270.00 to $280.00 in a research note on Monday, May 1st. Nine investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $248.65.
Tractor Supply Price Performance
Tractor Supply (NASDAQ:TSCO – Get Free Report) last announced its earnings results on Thursday, July 27th. The specialty retailer reported $3.83 earnings per share for the quarter, missing analysts’ consensus estimates of $3.91 by ($0.08). The company had revenue of $4.18 billion for the quarter, compared to analysts’ expectations of $4.26 billion. Tractor Supply had a net margin of 7.52% and a return on equity of 55.57%. Tractor Supply’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.53 earnings per share.
Tractor Supply Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 13th. Stockholders of record on Tuesday, May 30th were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date was Friday, May 26th. Tractor Supply’s dividend payout ratio (DPR) is 41.16%.
Insider Transactions at Tractor Supply
In other news, CMO Jonathan S. Estep sold 12,074 shares of Tractor Supply stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $226.20, for a total value of $2,731,138.80. Following the completion of the transaction, the chief marketing officer now owns 7,972 shares in the company, valued at approximately $1,803,266.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Tractor Supply news, CMO Jonathan S. Estep sold 12,074 shares of Tractor Supply stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $226.20, for a total transaction of $2,731,138.80. Following the completion of the sale, the chief marketing officer now directly owns 7,972 shares of the company’s stock, valued at approximately $1,803,266.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kurt D. Barton sold 9,091 shares of Tractor Supply stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $227.35, for a total value of $2,066,838.85. Following the sale, the chief financial officer now directly owns 27,061 shares of the company’s stock, valued at $6,152,318.35. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,147 shares of company stock worth $6,612,685. 0.24% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Tractor Supply
Institutional investors and hedge funds have recently bought and sold shares of the company. Pacific Center for Financial Services bought a new position in shares of Tractor Supply in the 1st quarter worth $26,000. OLD Mission Capital LLC acquired a new position in Tractor Supply during the 4th quarter valued at about $25,000. Compass Wealth Management LLC acquired a new position in Tractor Supply during the 4th quarter valued at about $25,000. Householder Group Estate & Retirement Specialist LLC acquired a new position in Tractor Supply during the 1st quarter valued at about $27,000. Finally, Hazlett Burt & Watson Inc. increased its position in Tractor Supply by 57.5% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 126 shares of the specialty retailer’s stock valued at $30,000 after buying an additional 46 shares in the last quarter. 84.91% of the stock is owned by institutional investors.
About Tractor Supply
Tractor Supply Company operates as a rural lifestyle retailer in the United States. The company offers a selection of merchandise, including equine, livestock, pet, and small animal products necessary for their health, care, growth, and containment; hardware, truck, towing, and tool products; seasonal products, such as heating products, lawn and garden items, power equipment, gifts, and toys; work/recreational clothing and footwear; and maintenance products for agricultural and rural use.
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