Bancreek Capital Management LP Raises Stock Position in Tractor Supply (NASDAQ:TSCO)

Bancreek Capital Management LP boosted its position in shares of Tractor Supply (NASDAQ:TSCO) by 261.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 112,605 shares of the specialty retailer’s stock after acquiring an additional 81,476 shares during the quarter. Tractor Supply makes up approximately 5.8% of Bancreek Capital Management LP’s holdings, making the stock its 6th biggest holding. Bancreek Capital Management LP’s holdings in Tractor Supply were worth $5,975,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. BOK Financial Private Wealth Inc. raised its stake in shares of Tractor Supply by 330.2% during the fourth quarter. BOK Financial Private Wealth Inc. now owns 21,355 shares of the specialty retailer’s stock valued at $1,133,000 after acquiring an additional 16,391 shares during the last quarter. Blueshift Asset Management LLC increased its holdings in Tractor Supply by 32.7% during the 3rd quarter. Blueshift Asset Management LLC now owns 9,945 shares of the specialty retailer’s stock valued at $2,893,000 after purchasing an additional 2,452 shares during the period. Callan Family Office LLC purchased a new position in Tractor Supply during the 4th quarter valued at about $503,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Tractor Supply by 379.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 890,898 shares of the specialty retailer’s stock valued at $47,271,000 after purchasing an additional 704,896 shares during the last quarter. Finally, Welch & Forbes LLC lifted its holdings in Tractor Supply by 391.4% in the 4th quarter. Welch & Forbes LLC now owns 484,922 shares of the specialty retailer’s stock worth $25,730,000 after buying an additional 386,233 shares during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Barclays reduced their target price on Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Monday, December 30th. JPMorgan Chase & Co. boosted their price objective 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. 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 research report on Thursday, December 12th. Bank of America lifted their target price on shares of Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a research note on Thursday, January 16th. Finally, Wells Fargo & Company decreased their price target on shares of Tractor Supply from $65.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $59.22.

Insider Activity at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $57.69, for a total transaction of $222,106.50. Following the transaction, the senior vice president now owns 31,787 shares in the company, valued at approximately $1,833,792.03. This represents a 10.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Harry A. Lawton III sold 88,095 shares of Tractor Supply stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 488,852 shares of the company’s stock, valued at $26,686,430.68. This represents a 15.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 137,993 shares of company stock valued at $7,538,068. 0.24% of the stock is owned by corporate insiders.

Tractor Supply Price Performance

Shares of NASDAQ:TSCO opened at $52.46 on Friday. The business has a fifty day moving average price of $55.03 and a 200-day moving average price of $55.67. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. The company has a market capitalization of $28.01 billion, a PE ratio of 25.72, a PEG ratio of 2.95 and a beta of 0.85. Tractor Supply has a 1-year low of $48.30 and a 1-year high of $61.53.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share 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%. As a group, equities analysts expect that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were issued a $0.92 dividend. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 dividend on an annualized basis and a yield of 7.01%. The ex-dividend date of this dividend was Wednesday, February 26th. Tractor Supply’s payout ratio is presently 45.10%.

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

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.