Crew Capital Management Ltd. Grows Holdings in Tractor Supply (NASDAQ:TSCO)

Crew Capital Management Ltd. boosted its holdings in Tractor Supply (NASDAQ:TSCO) by 94.5% in the 4th quarter, Holdings Channel reports. The firm owned 5,240 shares of the specialty retailer’s stock after purchasing an additional 2,546 shares during the period. Crew Capital Management Ltd.’s holdings in Tractor Supply were worth $278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Victory Capital Management Inc. raised its position in Tractor Supply by 346.0% in the 4th quarter. Victory Capital Management Inc. now owns 271,441 shares of the specialty retailer’s stock valued at $14,403,000 after purchasing an additional 210,584 shares during the last quarter. Keybank National Association OH raised its position in Tractor Supply by 318.6% during the 4th quarter. Keybank National Association OH now owns 642,752 shares of the specialty retailer’s stock worth $34,105,000 after buying an additional 489,198 shares during the last quarter. Westover Capital Advisors LLC raised its position in Tractor Supply by 398.2% during the 4th quarter. Westover Capital Advisors LLC now owns 24,920 shares of the specialty retailer’s stock worth $1,322,000 after buying an additional 19,918 shares during the last quarter. Commerzbank Aktiengesellschaft FI purchased a new position in Tractor Supply during the 4th quarter worth $887,000. Finally, Synergy Investment Management LLC purchased a new position in Tractor Supply during the 4th quarter worth $40,000. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Insider Activity at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of the firm’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 sale, the senior vice president now directly owns 31,787 shares of the company’s stock, valued at $1,833,792.03. This trade represents a 10.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kurt D. Barton sold 12,146 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $56.00, for a total transaction of $680,176.00. Following the sale, the chief financial officer now directly owns 47,715 shares in the company, valued at $2,672,040. This represents a 20.29 % 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. Insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on TSCO shares. JPMorgan Chase & Co. upped their price objective on shares of Tractor Supply from $58.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Barclays cut their price objective on shares of Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a research report on Monday, December 30th. Loop Capital upped their price objective 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. Mizuho upped their price objective on shares of Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Finally, Evercore ISI upgraded shares of Tractor Supply from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 15th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.22.

Tractor Supply Price Performance

Shares of NASDAQ TSCO opened at $54.59 on Friday. The stock has a market cap of $29.15 billion, a price-to-earnings ratio of 26.76, a PEG 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 company’s 50-day moving average price is $55.08 and its 200 day moving average price is $55.71. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82.

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 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, research analysts forecast that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply announced that its board has initiated a stock buyback program 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 programs are often a sign that the company’s board of directors believes its shares are undervalued.

Tractor Supply Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th will be paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 6.74%. This is a boost from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Wednesday, February 26th. Tractor Supply’s dividend payout ratio is presently 45.10%.

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.