Tractor Supply Raises Dividend 4.3% to $0.96, GS Cuts Target to $59
Tractor Supply’s board raised the annual dividend by $0.04 to $0.96 per share for 2026, its 17th consecutive annual increase, and set a $0.24 quarterly payout payable March 10. Goldman Sachs cut its target to $59 from $67 after Q4 EPS missed estimates and forecast only 1–3% same-store sales growth.
1. Dividend Hike and Payout Details
Tractor Supply’s board approved a 4.3% increase in the annual dividend to $0.96 per share for 2026, marking the 17th consecutive year of growth. The company also declared a quarterly cash dividend of $0.24 per share, payable on March 10 to shareholders of record as of February 24.
2. Board Appointment
The board appointed Sonia Syngal as an independent director. Syngal brings over three decades of executive leadership experience at major public companies, enhancing board expertise in strategic growth and operations.
3. Analyst Reaction and Outlook
Goldman Sachs lowered its price target on Tractor Supply to $59 from $67 after Q4 EPS fell short of consensus. Management projected 1–3% same-store sales growth for 2026, citing weather-related volatility and a pressured rural consumer backdrop, though consistent dividends underscore a durable cash flow profile.