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

Bancreek Capital Management LP boosted its holdings in Tractor Supply (NASDAQ:TSCO) by 261.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 112,605 shares of the specialty retailer’s stock after purchasing an additional 81,476 shares during the quarter. Tractor Supply comprises approximately 5.8% of Bancreek Capital Management LP’s investment portfolio, making the stock its 6th largest holding. Bancreek Capital Management LP’s holdings in Tractor Supply were worth $5,975,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in shares of Tractor Supply in the fourth quarter worth approximately $329,458,000. Meridiem Investment Management Ltd. raised its position in Tractor Supply by 398.9% in the 4th quarter. Meridiem Investment Management Ltd. now owns 5,118,785 shares of the specialty retailer’s stock valued at $271,674,000 after buying an additional 4,092,808 shares during the last quarter. Wellington Management Group LLP lifted its stake in Tractor Supply by 3.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,740,864 shares of the specialty retailer’s stock valued at $1,379,260,000 after acquiring an additional 161,503 shares in the last quarter. State Street Corp boosted its holdings in Tractor Supply by 1.1% during the 3rd quarter. State Street Corp now owns 4,518,341 shares of the specialty retailer’s stock worth $1,314,521,000 after acquiring an additional 47,951 shares during the last quarter. Finally, Amundi grew its stake in shares of 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 acquiring an additional 3,449,442 shares in the last quarter. Institutional investors own 98.72% of the company’s stock.

Insider Activity at Tractor Supply

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

Tractor Supply Stock Performance

Shares of TSCO opened at $52.46 on Friday. 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 stock has a market capitalization of $28.01 billion, a price-to-earnings ratio of 25.72, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. Tractor Supply has a 52-week low of $48.30 and a 52-week high of $61.53. The stock’s 50-day simple moving average is $55.03 and its 200 day simple moving average is $55.67.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings data 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 net margin of 7.40% and a return on equity of 49.01%. Research analysts forecast that Tractor Supply will post 2.17 EPS for the current fiscal year.

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

Tractor Supply Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TSCO. Mizuho raised their price target on shares of Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Wells Fargo & Company dropped their target price on shares of Tractor Supply from $65.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Truist Financial reduced their target price on Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a report on Friday, January 31st. JPMorgan Chase & Co. lifted their price target on Tractor Supply from $58.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $67.00 price objective on shares of Tractor Supply in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.22.

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.