Tractor Supply Company (NASDAQ:TSCO) Shares Sold by Bancreek Capital Management LP

Bancreek Capital Management LP cut its holdings in shares of Tractor Supply Company (NASDAQ:TSCO - Free Report) by 25.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 84,110 shares of the specialty retailer's stock after selling 28,495 shares during the quarter. Tractor Supply comprises 6.9% of Bancreek Capital Management LP's investment portfolio, making the stock its 7th biggest position. Bancreek Capital Management LP's holdings in Tractor Supply were worth $4,634,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Wedmont Private Capital raised its stake in Tractor Supply by 2.5% during the first quarter. Wedmont Private Capital now owns 8,714 shares of the specialty retailer's stock worth $450,000 after purchasing an additional 212 shares during the period. Creative Financial Designs Inc. ADV raised its stake in Tractor Supply by 30.1% during the first quarter. Creative Financial Designs Inc. ADV now owns 920 shares of the specialty retailer's stock worth $51,000 after purchasing an additional 213 shares during the period. Procyon Advisors LLC raised its stake in Tractor Supply by 1.7% during the first quarter. Procyon Advisors LLC now owns 14,371 shares of the specialty retailer's stock worth $792,000 after purchasing an additional 238 shares during the period. International Assets Investment Management LLC raised its stake in Tractor Supply by 5.5% during the first quarter. International Assets Investment Management LLC now owns 4,678 shares of the specialty retailer's stock worth $258,000 after purchasing an additional 242 shares during the period. Finally, Family Legacy Inc. raised its stake in Tractor Supply by 1.7% during the first quarter. Family Legacy Inc. now owns 17,157 shares of the specialty retailer's stock worth $945,000 after purchasing an additional 281 shares during the period. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Tractor Supply Stock Down 0.6%

TSCO traded down $0.34 during trading hours on Thursday, hitting $54.80. 2,938,398 shares of the company's stock were exchanged, compared to its average volume of 5,150,793. Tractor Supply Company has a 12-month low of $46.85 and a 12-month high of $61.53. The firm has a 50 day moving average of $51.27 and a 200 day moving average of $52.98. The firm has a market cap of $29.05 billion, a P/E ratio of 27.21, a price-to-earnings-growth ratio of 2.97 and a beta of 0.75. The company has a current ratio of 1.41, a quick ratio of 0.17 and a debt-to-equity ratio of 0.94.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced 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). Tractor Supply had a return on equity of 47.56% and a net margin of 7.24%. The business had revenue of $3.47 billion for the quarter, compared to analysts' expectations of $3.55 billion. During the same period in the previous year, the company earned $1.83 earnings per share. Tractor Supply's quarterly revenue was up 2.1% on a year-over-year basis. Analysts predict that Tractor Supply Company will post 2.17 EPS for the current fiscal year.

Tractor Supply Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend was Wednesday, May 28th. Tractor Supply's dividend payout ratio (DPR) is presently 45.77%.

Insider Activity at Tractor Supply

In other Tractor Supply news, EVP Jonathan S. Estep sold 56,630 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $53.00, for a total transaction of $3,001,390.00. Following the completion of the transaction, the executive vice president owned 74,605 shares in the company, valued at $3,954,065. The trade was a 43.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Matthew L. Rubin sold 2,810 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $51.76, for a total transaction of $145,445.60. Following the transaction, the senior vice president owned 29,722 shares of the company's stock, valued at $1,538,410.72. This trade represents a 8.64% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.65% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TSCO. Mizuho reduced their target price on shares of Tractor Supply from $62.00 to $58.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Wall Street Zen downgraded shares of Tractor Supply from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. Citigroup reduced their target price 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. JPMorgan Chase & Co. reduced their target price 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. Finally, Raymond James Financial reduced their target price on shares of Tractor Supply from $61.00 to $57.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $58.02.

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.