Tractor Supply (NASDAQ:TSCO) Shares Purchased by NEOS Investment Management LLC

NEOS Investment Management LLC raised its stake in Tractor Supply (NASDAQ:TSCO) by 546.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,441 shares of the specialty retailer’s stock after buying an additional 23,195 shares during the period. NEOS Investment Management LLC’s holdings in Tractor Supply were worth $1,456,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Tractor Supply by 392.5% during the fourth 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 last quarter. JPMorgan Chase & Co. lifted its stake 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 buying an additional 8,617,869 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Tractor Supply in the fourth quarter worth about $329,458,000. Meridiem Investment Management Ltd. increased its position in shares of Tractor Supply by 398.9% in the fourth quarter. Meridiem Investment Management Ltd. now owns 5,118,785 shares of the specialty retailer’s stock worth $271,674,000 after acquiring an additional 4,092,808 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Tractor Supply by 3.5% during the third quarter. Wellington Management Group LLP now owns 4,740,864 shares of the specialty retailer’s stock valued at $1,379,260,000 after acquiring an additional 161,503 shares during the period. Institutional investors and hedge funds own 98.72% of the company’s stock.

Analysts Set New Price Targets

TSCO has been the topic of several recent analyst reports. Telsey Advisory Group reissued an “outperform” rating and set a $67.00 target price on shares of Tractor Supply in a research note on Thursday, January 30th. Truist Financial lowered their price target on Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Mizuho increased their price objective on Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Guggenheim reaffirmed a “buy” rating and set a $60.00 target price on shares of Tractor Supply in a research note on Friday, January 31st. Finally, Bank of America increased their price target on shares of Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a research report on Thursday, January 16th. Two analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.22.

Tractor Supply Stock Down 1.3 %

TSCO opened at $53.47 on Friday. Tractor Supply has a twelve month low of $48.30 and a twelve month high of $61.53. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. The business has a 50 day moving average price of $55.03 and a 200 day moving average price of $55.65. The firm has a market cap of $28.55 billion, a P/E ratio of 26.21, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data 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 return on equity of 49.01% and a net margin of 7.40%. Research analysts forecast that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 6.88%. The ex-dividend date was Wednesday, February 26th. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. Tractor Supply’s payout ratio is currently 45.10%.

Tractor Supply announced that its Board of Directors has authorized a stock buyback program on Thursday, February 13th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to buy up to 3.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Insider Activity at Tractor Supply

In other news, CFO Kurt D. Barton sold 12,146 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $56.00, for a total transaction of $680,176.00. Following the completion of the transaction, the chief financial officer now owns 47,715 shares of the company’s stock, valued at approximately $2,672,040. This represents a 20.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $54.59, for a total value of $4,809,106.05. Following the sale, the chief executive officer now directly owns 488,852 shares in the company, valued at approximately $26,686,430.68. This trade represents a 15.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 137,993 shares of company stock worth $7,538,068 in the last 90 days. 0.58% of the stock is owned by company insiders.

Tractor Supply Company Profile

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.