NEOS Investment Management LLC Has $1.46 Million Stock Holdings in Tractor Supply (NASDAQ:TSCO)

NEOS Investment Management LLC raised its stake in shares of Tractor Supply (NASDAQ:TSCO) by 546.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,441 shares of the specialty retailer’s stock after purchasing an additional 23,195 shares during the quarter. NEOS Investment Management LLC’s holdings in Tractor Supply were worth $1,456,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of TSCO. Larson Financial Group LLC boosted its stake in Tractor Supply by 29.4% in the 3rd quarter. Larson Financial Group LLC now owns 286 shares of the specialty retailer’s stock valued at $83,000 after buying an additional 65 shares in the last quarter. Pine Valley Investments Ltd Liability Co lifted its holdings in shares of Tractor Supply by 7.1% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 978 shares of the specialty retailer’s stock valued at $285,000 after acquiring an additional 65 shares during the period. Synergy Financial Group LTD boosted its stake in shares of Tractor Supply by 12.4% in the 3rd quarter. Synergy Financial Group LTD now owns 1,090 shares of the specialty retailer’s stock valued at $317,000 after purchasing an additional 120 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of Tractor Supply by 0.5% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 27,710 shares of the specialty retailer’s stock worth $8,058,000 after purchasing an additional 141 shares during the last quarter. Finally, Glen Eagle Advisors LLC increased its position in shares of Tractor Supply by 75.8% during the 3rd quarter. Glen Eagle Advisors LLC now owns 464 shares of the specialty retailer’s stock worth $135,000 after purchasing an additional 200 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Tractor Supply news, 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 transaction of $4,809,106.05. Following the transaction, the chief executive officer now directly owns 488,852 shares in the company, valued at approximately $26,686,430.68. The trade was a 15.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Matthew L. Rubin sold 3,850 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $57.69, for a total value of $222,106.50. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,993 shares of company stock valued at $7,538,068 in the last 90 days. 0.58% of the stock is owned by insiders.

Tractor Supply Stock Performance

TSCO stock 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 quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. The company 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. The business’s fifty day moving average is $55.03 and its 200-day moving average is $55.65.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $2.28 by ($1.84). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. Equities research analysts forecast that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply declared that its Board of Directors has initiated a stock buyback plan on Thursday, February 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the specialty retailer to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Tractor Supply Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 6.88%. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. Tractor Supply’s dividend payout ratio (DPR) is currently 45.10%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on TSCO shares. JPMorgan Chase & Co. boosted their price target on shares of Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Truist Financial dropped their price target on Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a report on Friday, January 31st. Guggenheim reissued a “buy” rating and issued a $60.00 price objective on shares of Tractor Supply in a research note on Friday, January 31st. Telsey Advisory Group restated an “outperform” rating and issued a $67.00 target price on shares of Tractor Supply in a research note on Thursday, January 30th. Finally, Bank of America upped 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 issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $59.22.

Tractor Supply 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.