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logoMorningstarSeptember 04, 2020

Tractor Supply Company: Tractor Supply Continues to Adapt Its Customer Experience, Driving Sales and Profit Growth

Symbols
TSCO
Sector(s)
Consumer Cyclical
Rating
Premium
Current Price
$161.08
Fair Value
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Economic Moat
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Stewardship
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Summary

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. Currently, the company operates 1,881 stores in 49 states, and 180 Petsense stores. Stores are typically located in towns outside of urban areas and in rural communities. Through the end of 2019, revenue consisted primarily of livestock and pet (47%), hardware, tools, and truck (21%), and seasonal gift and toy (20%).

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Analyst Profile

Jaime M. Katz

Senior Equity Analyst
Jaime M. Katz, CFA, is a senior equity analyst for Morningstar Research Services LLC, a wholly owned subsidiary of Morningstar, Inc. She covers home improvement retailers and travel and leisure.Before joining Morningstar in 2011, Katz was an associate for Credit Agricole Corporate and Investment Bank. She also worked in equity research for William Blair for three years and spent three years in asset management at Mesirow Financial.Katz holds a bachelor's degree in economics from the University of Wisconsin and a master's degree in business administration from the University of Chicago Booth School of Business. She also holds the Chartered Financial Analyst® designation. She ranked first in the leisure goods and services industry in The Wall Street Journal's annual “Best on the Street” analysts survey in 2013, the last year the survey was conducted.