Neo Ivy Capital Management Makes New Investment in Tractor Supply (NASDAQ:TSCO)

Neo Ivy Capital Management purchased a new position in Tractor Supply (NASDAQ:TSCO - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 36,036 shares of the specialty retailer's stock, valued at approximately $1,912,000.

A number of other large investors have also made changes to their positions in the business. Park Avenue Securities LLC increased its stake in shares of Tractor Supply by 442.1% in the fourth quarter. Park Avenue Securities LLC now owns 7,643 shares of the specialty retailer's stock worth $406,000 after acquiring an additional 6,233 shares during the period. Arkadios Wealth Advisors boosted its holdings in Tractor Supply by 208.2% during the fourth quarter. Arkadios Wealth Advisors now owns 5,482 shares of the specialty retailer's stock worth $291,000 after buying an additional 3,703 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in Tractor Supply by 500.8% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,502 shares of the specialty retailer's stock valued at $80,000 after buying an additional 1,252 shares during the period. Crossmark Global Holdings Inc. increased its holdings in Tractor Supply by 358.0% in the fourth quarter. Crossmark Global Holdings Inc. now owns 34,460 shares of the specialty retailer's stock valued at $1,829,000 after buying an additional 26,936 shares in the last quarter. Finally, Atomi Financial Group Inc. acquired a new position in shares of Tractor Supply in the fourth quarter worth about $203,000. 98.72% of the stock is owned by institutional investors and hedge funds.

Tractor Supply Trading Down 0.2%

NASDAQ TSCO traded down $0.09 during trading hours on Thursday, reaching $48.98. The company had a trading volume of 1,858,436 shares, compared to its average volume of 5,139,058. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $25.97 billion, a P/E ratio of 24.00, a price-to-earnings-growth ratio of 2.95 and a beta of 0.82. The stock has a 50-day moving average of $51.33 and a 200 day moving average of $53.80. Tractor Supply has a 1-year low of $46.85 and a 1-year high of $61.53.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). The firm had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.55 billion. Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. The business's revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.83 earnings per share. As a group, research analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Wednesday, May 28th. Tractor Supply's dividend payout ratio is currently 45.77%.

Tractor Supply announced that its board has initiated a stock buyback program on Thursday, February 13th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the specialty retailer to repurchase up to 3.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

TSCO has been the subject of several recent analyst reports. Mizuho cut their price target on Tractor Supply from $62.00 to $58.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Citigroup cut their price objective on Tractor Supply from $59.00 to $51.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. Raymond James decreased their target price on Tractor Supply from $61.00 to $57.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Guggenheim reduced their price objective on shares of Tractor Supply from $60.00 to $55.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Finally, Robert W. Baird dropped their target price on shares of Tractor Supply from $63.00 to $56.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Tractor Supply currently has an average rating of "Moderate Buy" and an average target price of $58.02.

Insider Transactions at Tractor Supply

In related news, SVP Matthew L. Rubin sold 2,810 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $51.76, for a total value of $145,445.60. Following the sale, the senior vice president now owns 29,722 shares of the company's stock, valued at $1,538,410.72. This trade represents a 8.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.65% of the company's stock.

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.