Tractor Supply slides after Q1 earnings miss and operating-income decline despite reaffirmed outlook

Tractor Supply Company (TSCO) is down 8.5% today. Here is some analysis on what might have caused this price movement.

Analysis: The drop appears tied to Tractor Supply’s first-quarter 2026 report, which showed lower profit and operating income versus last year and an EPS result that fell short of market expectations. While the company reaffirmed its full-year 2026 outlook, investors likely focused on margin pressure (including higher tariffs and delivery-related transportation costs) and the still-modest pace of comparable-store sales growth.

Details:

Q1 2026 net sales rose 3.6% to $3.59 billion, but comparable-store sales increased only 0.5% (ticket up, transactions down).

Diluted EPS declined to $0.31 from $0.34 a year earlier, alongside an 8.3% decrease in net income.

Operating income fell 6.3% year over year, and operating margin compressed as SG&A grew faster than sales.

The company reiterated fiscal 2026 guidance (including net sales growth of 4%–6% and EPS of $2.13–$2.23), which may not have been enough to offset concerns about near-term profitability.

Sources:

Tractor Supply Company (Investor Relations), U.S. Securities and Exchange Commission, Associated Press

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$TSCO Insider Trading Activity

$TSCO insiders have traded $TSCO stock on the open market 7 times in the past 6 months. Of those trades, 0 have been purchases and 7 have been sales.

Here’s a breakdown of recent trading of $TSCO stock by insiders over the last 6 months:

ROBERT D MILLS (EVP Chief Technology Officer) sold 62,950 shares for an estimated $3,406,854
JONATHAN S ESTEP (EVP Chief Merchandise Officer) sold 59,745 shares for an estimated $3,228,022
COLIN YANKEE (EVP Chief Supply Chain Officer) has made 0 purchases and 3 sales selling 11,170 shares for an estimated $618,262.
KURT D BARTON (EVP Chief Financial Officer) has made 0 purchases and 2 sales selling 3,813 shares for an estimated $205,428.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

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$TSCO Hedge Fund Activity

We have seen 510 institutional investors add shares of $TSCO stock to their portfolio, and 593 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC removed 14,393,885 shares (-75.1%) from their portfolio in Q4 2025, for an estimated $719,838,188
BLACKROCK, INC. removed 4,304,040 shares (-8.5%) from their portfolio in Q4 2025, for an estimated $215,245,040
WELLINGTON MANAGEMENT GROUP LLP removed 3,279,797 shares (-12.6%) from their portfolio in Q4 2025, for an estimated $164,022,647
INVESCO LTD. added 2,706,819 shares (+18.4%) to their portfolio in Q4 2025, for an estimated $135,368,018
D. E. SHAW & CO., INC. removed 2,432,823 shares (-84.1%) from their portfolio in Q4 2025, for an estimated $121,665,478
MACQUARIE GROUP LTD removed 2,385,785 shares (-96.4%) from their portfolio in Q4 2025, for an estimated $119,313,107
AMERICAN CENTURY COMPANIES INC added 2,384,939 shares (+78.1%) to their portfolio in Q4 2025, for an estimated $119,270,799

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

$TSCO Congressional Stock Trading

Members of Congress have traded $TSCO stock 7 times in the past 6 months. Of those trades, 7 have been purchases and 0 have been sales.

Here’s a breakdown of recent trading of $TSCO stock by members of Congress over the last 6 months:

REPRESENTATIVE APRIL MCCLAIN DELANEY has traded it 7 times. They made 7 purchases worth up to $105,000 on 03/31, 03/16, 03/04, 02/10, 12/12, 12/02, 10/31 and 0 sales.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.

$TSCO Analyst Ratings

Wall Street analysts have issued reports on $TSCO in the last several months. We have seen 8 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Argus Research issued a "Buy" rating on 02/02/2026
Piper Sandler issued a "Overweight" rating on 01/30/2026
Mizuho issued a "Outperform" rating on 01/30/2026
Jefferies issued a "Buy" rating on 01/30/2026
Telsey Advisory Group issued a "Outperform" rating on 01/23/2026
Evercore ISI Group issued a "Outperform" rating on 11/05/2025
Baird issued a "Outperform" rating on 10/24/2025

To track analyst ratings and price targets for $TSCO, check out Quiver Quantitative's $TSCO forecast page.

$TSCO Price Targets

Multiple analysts have issued price targets for $TSCO recently. We have seen 18 analysts offer price targets for $TSCO in the last 6 months, with a median target of $58.5.

Here are some recent targets:

Justin Kleber from Baird set a target price of $60.0 on 04/17/2026
Michael Baker from DA Davidson set a target price of $60.0 on 04/16/2026
Zachary Fadem from Wells Fargo set a target price of $55.0 on 04/14/2026
Steven Zaccone from Citigroup set a target price of $55.0 on 04/07/2026
Oliver Wintermantel from Evercore ISI Group set a target price of $55.0 on 04/07/2026
Christopher Graja from Argus Research set a target price of $64.0 on 02/02/2026
Peter Keith from Piper Sandler set a target price of $59.0 on 01/30/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.