Tractor Supply (TSCO) Forecasted to Earn FY2019 Earnings of $4.73 Per Share
Tractor Supply (NASDAQ:TSCO) – Investment analysts at Northcoast Research increased their FY2019 earnings estimates for shares of Tractor Supply in a report released on Tuesday, November 6th. Northcoast Research analyst C. Cerankosky now expects that the specialty retailer will earn $4.73 per share for the year, up from their prior forecast of $4.63.
A number of other research firms have also issued reports on TSCO. Zacks Investment Research upgraded Tractor Supply from a “hold” rating to a “buy” rating and set a $97.00 target price for the company in a report on Tuesday, August 28th. BidaskClub upgraded Tractor Supply from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 29th. Royal Bank of Canada upgraded Tractor Supply from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 25th. Morgan Stanley lifted their target price on Tractor Supply from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, July 27th. Finally, Wells Fargo & Co reiterated a “buy” rating on shares of Tractor Supply in a report on Thursday, July 26th. Twelve investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Tractor Supply currently has an average rating of “Buy” and a consensus target price of $87.73.
Tractor Supply (NASDAQ:TSCO) last released its earnings results on Thursday, October 25th. The specialty retailer reported $0.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.08. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.82 billion. Tractor Supply had a return on equity of 36.23% and a net margin of 6.54%.
Institutional investors and hedge funds have recently bought and sold shares of the company. Piedmont Investment Advisors LLC acquired a new stake in shares of Tractor Supply during the second quarter worth about $106,000. Columbia Asset Management acquired a new stake in shares of Tractor Supply during the third quarter worth about $120,000. Qube Research & Technologies Ltd acquired a new stake in shares of Tractor Supply during the second quarter worth about $130,000. Steward Partners Investment Advisory LLC increased its position in shares of Tractor Supply by 118.9% during the second quarter. Steward Partners Investment Advisory LLC now owns 1,751 shares of the specialty retailer’s stock worth $134,000 after purchasing an additional 951 shares in the last quarter. Finally, Stratos Wealth Partners LTD. acquired a new stake in shares of Tractor Supply during the third quarter worth about $142,000. Institutional investors and hedge funds own 82.02% of the company’s stock.
In other news, SVP Chad Michael Frazell sold 19,818 shares of Tractor Supply stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $96.65, for a total transaction of $1,915,409.70. Following the sale, the senior vice president now owns 28,961 shares in the company, valued at $2,799,080.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Steve K. Barbarick sold 21,257 shares of Tractor Supply stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $89.12, for a total value of $1,894,423.84. Following the sale, the chief operating officer now owns 78,210 shares in the company, valued at approximately $6,970,075.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 224,348 shares of company stock worth $20,263,980. 1.60% of the stock is owned by insiders.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 11th. Shareholders of record on Monday, November 26th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Friday, November 23rd. Tractor Supply’s dividend payout ratio is presently 37.24%.
Tractor Supply Company Profile
Tractor Supply Company operates rural lifestyle retail stores 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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