Tractor Supply (NASDAQ:TSCO) Reaches New 1-Year High After Earnings Beat

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

The specialty retailer reported $1.83 earnings per share for the quarter, beating analysts' consensus estimates of $1.70 by $0.13. Tractor Supply had a net margin of 7.61% and a return on equity of 53.60%. The company had revenue of $3.39 billion during the quarter, compared to analysts' expectations of $3.40 billion. During the same quarter in the previous year, the company earned $1.65 earnings per share. The firm's revenue for the quarter was up 2.8% on a year-over-year basis.

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were issued a $1.10 dividend. 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 dividend on an annualized basis and a yield of 1.61%. Tractor Supply's payout ratio is presently 43.61%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TSCO. Raymond James lifted their price objective on shares of Tractor Supply from $250.00 to $285.00 and gave the company an "outperform" rating in a report on Friday. Stephens cut shares of Tractor Supply from an "overweight" rating to an "equal weight" rating and boosted their target price for the stock from $226.00 to $240.00 in a research note on Tuesday, January 23rd. Telsey Advisory Group reissued an "outperform" rating and set a $275.00 target price on shares of Tractor Supply in a research note on Thursday. Barclays boosted their target price on shares of Tractor Supply from $234.00 to $240.00 and gave the stock an "equal weight" rating in a research note on Friday. Finally, Truist Financial boosted their target price on shares of Tractor Supply from $277.00 to $289.00 and gave the stock a "buy" rating in a research note on Friday. Two research 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.com, the stock has a consensus rating of "Hold" and a consensus price target of $248.17.

Insider Buying and Selling

In related news, CEO Harry A. Lawton III sold 20,500 shares of the company's stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $232.93, for a total transaction of $4,775,065.00. Following the sale, the chief executive officer now directly owns 95,192 shares of the company's stock, valued at approximately $22,173,072.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Tractor Supply news, CEO Harry A. Lawton III sold 20,500 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $232.93, for a total value of $4,775,065.00. Following the sale, the chief executive officer now directly owns 95,192 shares of the company's stock, valued at approximately $22,173,072.56. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Kurt D. Barton sold 401 shares of the stock in a transaction that occurred 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 directly owns 25,013 shares in the company, valued at $5,804,516.78. The disclosure for this sale can be found here. Insiders have sold a total of 90,090 shares of company stock valued at $21,201,877 in the last ninety days. Company insiders own 0.24% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Future Financial Wealth Managment LLC purchased a new position in shares of Tractor Supply in the 1st quarter valued at $26,000. Rise Advisors LLC grew its position in shares of Tractor Supply by 157.1% in the 1st quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer's stock valued at $28,000 after buying an additional 66 shares during the last quarter. Private Wealth Management Group LLC purchased a new position in shares of Tractor Supply in the 4th quarter valued at $27,000. OFI Invest Asset Management purchased a new position in shares of Tractor Supply in the 3rd quarter valued at $25,000. Finally, Pinnacle Bancorp Inc. purchased a new position in shares of Tractor Supply in the 4th quarter valued at $28,000. 98.72% of the stock is owned by hedge funds and other institutional investors.

Tractor Supply Price Performance

The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.28 and a current ratio of 1.50. The stock's 50-day moving average is $252.44 and its 200 day moving average is $226.59. The stock has a market capitalization of $29.56 billion, a PE ratio of 27.15, a P/E/G ratio of 3.88 and a beta of 0.84.

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.