Tractor Supply (TSCO)

• Market cap: $27B
• 1 day: 0.89%
• 5 days: -0.53%
• 1 month: -5.23%
• 3 months: -11.59%
• 6 months: -13.16%
• Year to date: -3.15%
• 1 year: -0.90%
• 5 years: 166.72%
• 10 years: 177.97%
• Sector: Consumer Discretionary
• Industry: Specialty Retail

About: Tractor Supply is the largest operator of retail farm and ranch stores in the United States. The company targets recreational farmers and ranchers and has little exposure to commercial and industrial farm operations. At the end of fiscal 2024, the company operated 2,296 of its namesake banners in 49 states, along with 206 Petsense by Tractor Supply stores. Stores are generally concentrated in rural communities, as opposed to urban and suburban areas. In fiscal 2023 (most recent data available), revenue consisted primarily of livestock, equine & agriculture (27%), companion animal (25%), and seasonal & recreation (22%).

Employees: 52,000

Fund manager confidence

Based on 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)

9,091% more repeat investments, than reductions

Existing positions increased: 1,011 | Existing positions reduced: 11

84% more first-time investments, than exits

New positions opened: 166 | Existing positions closed: 90

4% more funds holding

Funds holding: 1,145 [Q3] → 1,193 (+48) [Q4]

3.1% more ownership

Funds ownership: 93.75% [Q3] → 96.85% (+3.1%) [Q4]

4% less capital invested

Capital invested by funds: $29.4B [Q3] → $28B (-$1.31B) [Q4]

14% less funds holding in top 10

Funds holding in top 10: 14 [Q3] → 12 (-2) [Q4]

21% less call options, than puts

Call options by funds: $178M | Put options by funds: $226M

Research analyst outlook

5 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $56 10% upside
• Avg. target: $60 19% upside
• High target: $67 32% upside

5 analyst ratings

• positive: 3 60%
• neutral: 2 40%
• negative: 0 0%

Telsey Advisory Group Joseph Feldman 29% 1-year accuracy 42 / 147 met price target	32% upside $67	Outperform Maintained	17 Apr 2025
Stephens & Co. Jeff Lick 36% 1-year accuracy 4 / 11 met price target	10% upside $56	Equal-Weight Initiated	9 Apr 2025
JP Morgan Christopher Horvers 21% 1-year accuracy 6 / 28 met price target	16% upside $59	Neutral Maintained	31 Jan 2025
Truist Securities Scot Ciccarelli 41% 1-year accuracy 24 / 59 met price target	18% upside $60	Buy Maintained	31 Jan 2025
Guggenheim Steven Forbes 38% 1-year accuracy 9 / 24 met price target	18% upside $60	Buy Reiterated	31 Jan 2025