Tractor Supply (NASDAQ:TSCO) Issues Quarterly Earnings Results

Tractor Supply (NASDAQ:TSCO) announced its quarterly earnings results on Thursday. The specialty retailer reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.04), FiscalAI reports. The company had revenue of $3.90 billion for the quarter, compared to analyst estimates of $4.03 billion. Tractor Supply had a return on equity of 46.18% and a net margin of 7.18%.

Tractor Supply Price Performance

NASDAQ:TSCO traded down $2.18 during trading hours on Thursday, reaching $52.96. 6,964,204 shares of the company were exchanged, compared to its average volume of 7,829,022. The company has a current ratio of 1.30, a quick ratio of 0.14 and a debt-to-equity ratio of 0.69. The firm has a market cap of $27.98 billion, a PE ratio of 25.51, a price-to-earnings-growth ratio of 2.61 and a beta of 0.74. Tractor Supply has a twelve month low of $46.85 and a twelve month high of $63.99. The stock’s 50-day moving average is $52.38 and its 200-day moving average is $55.76.

Tractor Supply Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 9th. Shareholders of record on Monday, November 24th were given a dividend of $0.23 per share. The ex-dividend date was Monday, November 24th. This represents a $0.92 dividend on an annualized basis and a yield of 1.7%. Tractor Supply’s dividend payout ratio is currently 44.23%.

Analysts Set New Price Targets

TSCO has been the topic of a number of recent research reports. Guggenheim restated a “buy” rating and issued a $65.00 target price on shares of Tractor Supply in a research note on Thursday, January 22nd. Mizuho boosted their price target on Tractor Supply from $64.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, October 24th. Robert W. Baird boosted their target price on shares of Tractor Supply from $65.00 to $67.00 and gave the company an “outperform” rating in a research note on Friday, October 24th. Truist Financial set a $55.00 target price on shares of Tractor Supply and gave the company a “hold” rating in a research note on Friday, January 16th. Finally, Gordon Haskett lowered shares of Tractor Supply from an “accumulate” rating to a “hold” rating and dropped their price target for the company from $57.00 to $50.00 in a research report on Thursday, January 8th. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, Tractor Supply currently has a consensus rating of “Moderate Buy” and an average target price of $62.81.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TSCO. Select Equity Group L.P. boosted its holdings in shares of Tractor Supply by 41.9% during the 2nd quarter. Select Equity Group L.P. now owns 12,713,409 shares of the specialty retailer’s stock worth $670,887,000 after purchasing an additional 3,753,414 shares during the last quarter. Corient Private Wealth LLC increased its holdings in shares of Tractor Supply by 98.0% in the second quarter. Corient Private Wealth LLC now owns 1,675,456 shares of the specialty retailer’s stock valued at $88,415,000 after purchasing an additional 829,266 shares during the last quarter. Voloridge Investment Management LLC lifted its position in Tractor Supply by 395.1% during the third quarter. Voloridge Investment Management LLC now owns 1,001,642 shares of the specialty retailer’s stock worth $56,963,000 after buying an additional 799,323 shares in the last quarter. Man Group plc boosted its stake in Tractor Supply by 355.0% during the second quarter. Man Group plc now owns 907,776 shares of the specialty retailer’s stock worth $47,903,000 after buying an additional 708,283 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in Tractor Supply by 19.3% in the 3rd quarter. Marshall Wace LLP now owns 3,710,290 shares of the specialty retailer’s stock valued at $211,004,000 after buying an additional 598,979 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Tractor Supply Company Profile

Tractor Supply Company (NASDAQ: TSCO) is a specialty retailer focused on products for the home, farm, ranch and outdoors. The company operates a network of physical retail locations complemented by an e-commerce platform, offering a one-stop source of supplies and equipment for customers with rural and suburban lifestyles. Its merchandise assortment targets a range of needs, from animal and livestock care to maintenance, outdoor power equipment, and seasonal products.

Product categories include animal feed and supplies, pet products, fencing and fencing supplies, equine equipment, lawn and garden tools, work clothing and footwear, and small agricultural and outdoor power equipment.