NEOS Investment Management LLC Acquires 23,195 Shares of Tractor Supply (NASDAQ:TSCO)

NEOS Investment Management LLC grew its position in Tractor Supply (NASDAQ:TSCO - Free Report) by 546.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,441 shares of the specialty retailer's stock after buying an additional 23,195 shares during the quarter. NEOS Investment Management LLC's holdings in Tractor Supply were worth $1,456,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in TSCO. Vanguard Group Inc. increased its holdings in shares of Tractor Supply by 392.5% in the 4th quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer's stock valued at $3,397,643,000 after purchasing an additional 51,031,178 shares during the period. JPMorgan Chase & Co. grew its position in Tractor Supply by 391.0% during the fourth quarter. JPMorgan Chase & Co. now owns 10,821,654 shares of the specialty retailer's stock valued at $574,197,000 after purchasing an additional 8,617,869 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Tractor Supply in the 4th quarter worth approximately $329,458,000. Meridiem Investment Management Ltd. boosted its stake in shares of Tractor Supply by 398.9% during the 4th quarter. Meridiem Investment Management Ltd. now owns 5,118,785 shares of the specialty retailer's stock valued at $271,674,000 after buying an additional 4,092,808 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of Tractor Supply by 3.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,740,864 shares of the specialty retailer's stock valued at $1,379,260,000 after buying an additional 161,503 shares during the period. 98.72% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Insiders Place Their Bets

In other Tractor Supply news, EVP Melissa Kersey sold 9,300 shares of the firm's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $53.17, for a total transaction of $494,481.00. Following the completion of the transaction, the executive vice president now owns 34,961 shares in the company, valued at $1,858,876.37. This trade represents a 21.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Matthew L. Rubin sold 3,850 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total value of $222,106.50. Following the transaction, the senior vice president now owns 31,787 shares of the company's stock, valued at $1,833,792.03. This trade represents a 10.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 137,993 shares of company stock worth $7,538,068 over the last 90 days. Corporate insiders own 0.24% of the company's stock.

Tractor Supply Stock Performance

NASDAQ TSCO traded down $0.79 during midday trading on Thursday, hitting $54.83. The company had a trading volume of 1,783,562 shares, compared to its average volume of 5,051,660. The firm has a fifty day simple moving average of $54.98 and a two-hundred day simple moving average of $55.64. Tractor Supply has a fifty-two week low of $48.30 and a fifty-two week high of $61.53. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. The stock has a market cap of $29.28 billion, a price-to-earnings ratio of 26.88, a P/E/G ratio of 2.95 and a beta of 0.85.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.28 by ($1.84). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. Equities analysts forecast that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply announced that its Board of Directors has approved a share repurchase program on Thursday, February 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to reacquire up to 3.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Tractor Supply Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were given a $0.92 dividend. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a yield of 6.71%. The ex-dividend date of this dividend was Wednesday, February 26th. Tractor Supply's dividend payout ratio (DPR) is 45.10%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on TSCO shares. Loop Capital increased their price objective on Tractor Supply from $53.00 to $58.00 and gave the stock a "hold" rating in a report on Thursday, December 12th. JPMorgan Chase & Co. lifted their price target on Tractor Supply from $58.00 to $59.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Bank of America increased their price objective on Tractor Supply from $44.00 to $53.00 and gave the stock an "underperform" rating in a report on Thursday, January 16th. Mizuho lifted their target price on shares of Tractor Supply from $60.00 to $62.00 and gave the company an "outperform" rating in a research note on Thursday, January 23rd. Finally, Truist Financial dropped their price target on shares of Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Tractor Supply currently has an average rating of "Moderate Buy" and an average target price of $59.22.

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.