Bancreek Capital Management LP Buys 81,476 Shares of Tractor Supply (NASDAQ:TSCO)

Bancreek Capital Management LP increased its holdings in Tractor Supply (NASDAQ:TSCO - Free Report) by 261.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 112,605 shares of the specialty retailer's stock after buying an additional 81,476 shares during the period. Tractor Supply comprises approximately 5.8% of Bancreek Capital Management LP's holdings, making the stock its 6th biggest position. Bancreek Capital Management LP's holdings in Tractor Supply were worth $5,975,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in shares of Tractor Supply in the 4th quarter worth about $329,458,000. Meridiem Investment Management Ltd. increased its stake 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 valued at $271,674,000 after purchasing an additional 4,092,808 shares during the period. 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 buying an additional 161,503 shares during the last quarter. State Street Corp boosted its position in shares of Tractor Supply by 1.1% during the third quarter. State Street Corp now owns 4,518,341 shares of the specialty retailer's stock worth $1,314,521,000 after buying an additional 47,951 shares during the period. Finally, Amundi grew its holdings in Tractor Supply by 495.2% in the 4th quarter. Amundi now owns 4,145,992 shares of the specialty retailer's stock worth $225,501,000 after buying an additional 3,449,442 shares in the last quarter. 98.72% of the stock is owned by institutional investors.

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Insider Buying and Selling at Tractor Supply

In related news, CEO Harry A. Lawton III sold 88,095 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $54.59, for a total transaction of $4,809,106.05. Following the completion of the sale, the chief executive officer now directly owns 488,852 shares of the company's stock, valued at approximately $26,686,430.68. This represents a 15.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Melissa Kersey sold 9,300 shares of the firm's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $53.17, for a total transaction of $494,481.00. Following the completion of the transaction, the executive vice president now owns 34,961 shares in the company, valued at $1,858,876.37. The trade was a 21.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 137,993 shares of company stock worth $7,538,068 over the last 90 days. Insiders own 0.58% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TSCO. Telsey Advisory Group restated an "outperform" rating and set a $67.00 price objective on shares of Tractor Supply in a research note on Thursday, January 30th. Mizuho boosted their target price on Tractor Supply from $60.00 to $62.00 and gave the stock an "outperform" rating in a report on Thursday, January 23rd. Barclays decreased their price target on Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating for the company in a research note on Monday, December 30th. Loop Capital raised their target price on shares of Tractor Supply from $53.00 to $58.00 and gave the stock a "hold" rating in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. lifted their target price on Tractor Supply from $58.00 to $59.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Tractor Supply presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.22.

Tractor Supply Stock Up 2.0 %

TSCO stock traded up $1.04 during trading hours on Wednesday, hitting $53.87. The company's stock had a trading volume of 2,454,464 shares, compared to its average volume of 4,886,411. The company has a market capitalization of $28.77 billion, a PE ratio of 26.41, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. The stock has a 50 day moving average price of $55.00 and a two-hundred day moving average price of $55.67. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. Tractor Supply has a 12 month low of $48.30 and a 12 month high of $61.53.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its earnings results on Thursday, January 30th. The specialty retailer reported $0.44 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%. On average, equities research analysts expect that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply declared that its board has authorized a stock repurchase program on Thursday, February 13th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the specialty retailer to reacquire up to 3.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were given a dividend of $0.92 per share. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 dividend on an annualized basis and a yield of 6.83%. This is a boost from Tractor Supply's previous quarterly dividend of $0.22. Tractor Supply's dividend payout ratio is presently 45.10%.

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.