NEOS Investment Management LLC Increases Stock Holdings in Tractor Supply Company $TSCO

NEOS Investment Management LLC increased its holdings in shares of Tractor Supply Company (NASDAQ:TSCO) by 49.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 63,881 shares of the specialty retailer’s stock after buying an additional 21,256 shares during the quarter. NEOS Investment Management LLC’s holdings in Tractor Supply were worth $3,633,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Invesco Ltd. increased its stake in shares of Tractor Supply by 123.4% during the 2nd quarter. Invesco Ltd. now owns 15,079,313 shares of the specialty retailer’s stock valued at $795,735,000 after acquiring an additional 8,329,462 shares during the last quarter. Norges Bank purchased a new position in Tractor Supply during the second quarter worth approximately $274,959,000. Select Equity Group L.P. raised its stake in Tractor Supply by 41.9% during the second quarter. Select Equity Group L.P. now owns 12,713,409 shares of the specialty retailer’s stock worth $670,887,000 after purchasing an additional 3,753,414 shares during the period. AXA S.A. boosted its holdings in shares of Tractor Supply by 418.2% in the 2nd quarter. AXA S.A. now owns 2,459,895 shares of the specialty retailer’s stock valued at $129,809,000 after purchasing an additional 1,985,168 shares during the last quarter. Finally, Soundwatch Capital LLC purchased a new stake in shares of Tractor Supply during the 2nd quarter valued at $81,025,000. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Wolfe Research reiterated an “outperform” rating and issued a $57.00 target price on shares of Tractor Supply in a report on Friday, January 30th. TD Cowen dropped their target price on shares of Tractor Supply from $55.00 to $53.00 and set a “hold” rating for the company in a research report on Friday, January 30th. Piper Sandler reduced their price target on shares of Tractor Supply from $67.00 to $59.00 and set an “overweight” rating on the stock in a research report on Friday, January 30th. Robert W. Baird increased their price objective on shares of Tractor Supply from $65.00 to $67.00 and gave the stock an “outperform” rating in a research report on Friday, October 24th. Finally, Jefferies Financial Group dropped their target price on shares of Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Fifteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Tractor Supply currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.78.

Tractor Supply Stock Down 1.1%

TSCO stock opened at $51.96 on Friday. The company has a quick ratio of 0.16, a current ratio of 1.34 and a debt-to-equity ratio of 0.70. The firm’s 50-day simple moving average is $52.39 and its 200 day simple moving average is $55.31. The stock has a market cap of $27.46 billion, a PE ratio of 25.10, a price-to-earnings-growth ratio of 2.63 and a beta of 0.74. Tractor Supply Company has a fifty-two week low of $46.85 and a fifty-two week high of $63.99.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, January 29th. The specialty retailer reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.03). Tractor Supply had a net margin of 7.06% and a return on equity of 44.36%. The business had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $4.03 billion. During the same period last year, the firm posted $0.44 EPS. The business’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, sell-side analysts predict that Tractor Supply Company will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th will be given a $0.24 dividend. The ex-dividend date is Tuesday, February 24th. This represents a $0.96 dividend on an annualized basis and a yield of 1.8%. This is a boost from Tractor Supply’s previous quarterly dividend of $0.23. Tractor Supply’s payout ratio is currently 44.44%.

Insider Activity

In other news, EVP Colin Yankee sold 11,170 shares of Tractor Supply stock in a transaction on Friday, February 13th. The stock was sold at an average price of $55.35, for a total transaction of $618,259.50. Following the transaction, the executive vice president directly owned 45,515 shares in the company, valued at approximately $2,519,255.25. This trade represents a 19.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert D. Mills sold 62,950 shares of the company’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $54.12, for a total value of $3,406,854.00. Following the completion of the sale, the executive vice president owned 122,834 shares of the company’s stock, valued at approximately $6,647,776.08. This trade represents a 33.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 222,348 shares of company stock worth $11,959,621 in the last 90 days. 0.65% of the stock is currently owned by corporate insiders.

Tractor Supply Company Profile

Tractor Supply Company (NASDAQ: TSCO) is a specialty retailer focused on products for the home, farm, ranch and outdoors. The company operates a network of physical retail locations complemented by an e-commerce platform, offering a one-stop source of supplies and equipment for customers with rural and suburban lifestyles. Its merchandise assortment targets a range of needs, from animal and livestock care to maintenance, outdoor power equipment, and seasonal products.

Product categories include animal feed and supplies, pet products, fencing and fencing supplies, equine equipment, lawn and garden tools, work clothing and footwear, and small agricultural and outdoor power equipment.