Neo Ivy Capital Management Invests $1.91 Million in Tractor Supply (NASDAQ:TSCO)

Neo Ivy Capital Management bought a new stake in shares of Tractor Supply (NASDAQ:TSCO - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 36,036 shares of the specialty retailer's stock, valued at approximately $1,912,000.

Several other hedge funds have also made changes to their positions in the company. Park Avenue Securities LLC grew its holdings in shares of Tractor Supply by 442.1% during the 4th quarter. Park Avenue Securities LLC now owns 7,643 shares of the specialty retailer's stock valued at $406,000 after acquiring an additional 6,233 shares in the last quarter. Arkadios Wealth Advisors boosted its position in Tractor Supply by 208.2% during the fourth quarter. Arkadios Wealth Advisors now owns 5,482 shares of the specialty retailer's stock valued at $291,000 after purchasing an additional 3,703 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted 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 purchasing an additional 1,252 shares during the last quarter. Crossmark Global Holdings Inc. boosted its position in Tractor Supply by 358.0% during the fourth quarter. Crossmark Global Holdings Inc. now owns 34,460 shares of the specialty retailer's stock valued at $1,829,000 after purchasing an additional 26,936 shares during the last quarter. Finally, Atomi Financial Group Inc. acquired a new position in shares of Tractor Supply during the 4th quarter worth $203,000. Hedge funds and other institutional investors own 98.72% of the company's stock.

Tractor Supply Price Performance

TSCO traded up $0.68 during midday trading on Tuesday, hitting $50.38. The company had a trading volume of 6,118,191 shares, compared to its average volume of 5,150,957. 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 company has a market capitalization of $26.71 billion, a PE ratio of 24.70, a P/E/G ratio of 2.95 and a beta of 0.82. Tractor Supply has a twelve month low of $46.85 and a twelve month high of $61.53. The firm's 50-day simple moving average is $51.43 and its 200-day simple moving average is $53.86.

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

Tractor Supply declared that its board has approved a stock buyback plan on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the specialty retailer to purchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its shares are undervalued.

Tractor Supply Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Wednesday, May 28th. Tractor Supply's payout ratio is currently 45.77%.

Insider Buying and Selling at Tractor Supply

In other news, SVP Matthew L. Rubin sold 2,810 shares of the business's stock in a transaction 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. The trade was a 8.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.65% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on TSCO shares. JPMorgan Chase & Co. dropped their price target on shares of Tractor Supply from $59.00 to $56.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. Guggenheim dropped their price target on shares of Tractor Supply from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Stephens started coverage on shares of Tractor Supply in a research note on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 price target on the stock. Telsey Advisory Group set a $60.00 price target on shares of Tractor Supply in a research note on Friday, April 25th. Finally, Citigroup dropped their price target on shares of Tractor Supply from $59.00 to $51.00 and set a "neutral" rating on the stock in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $58.02.

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.