Toronto Dominion Bank Purchases 150,905 Shares of Tractor Supply (NASDAQ:TSCO)

Toronto Dominion Bank raised its position in Tractor Supply (NASDAQ:TSCO - Free Report) by 371.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 191,480 shares of the specialty retailer's stock after acquiring an additional 150,905 shares during the period. Toronto Dominion Bank's holdings in Tractor Supply were worth $10,160,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. grew its position in Tractor Supply by 392.5% during the fourth quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer's stock worth $3,397,643,000 after buying an additional 51,031,178 shares during the period. Wellington Management Group LLP grew its holdings in shares of Tractor Supply by 401.8% during the fourth quarter. Wellington Management Group LLP now owns 23,789,249 shares of the specialty retailer's stock worth $1,262,258,000 after buying an additional 19,048,385 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of Tractor Supply by 403.3% during the 4th quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer's stock worth $1,180,932,000 after purchasing an additional 17,834,643 shares during the period. Capital World Investors boosted its stake in Tractor Supply by 403.7% in the 4th quarter. Capital World Investors now owns 19,433,135 shares of the specialty retailer's stock worth $1,031,122,000 after buying an additional 15,575,311 shares during the last quarter. Finally, Capital International Investors grew its holdings in Tractor Supply by 334.7% in the fourth quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer's stock valued at $818,421,000 after purchasing an additional 11,880,010 shares during the period. 98.72% of the stock is owned by hedge funds and other institutional investors.

Tractor Supply Stock Up 0.1%

TSCO traded up $0.03 on Friday, reaching $49.70. 3,690,023 shares of the company traded hands, compared to its average volume of 5,142,284. The stock's 50 day moving average price is $51.49 and its 200-day moving average price is $53.97. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. Tractor Supply has a 52-week low of $46.85 and a 52-week high of $61.53. The company has a market cap of $26.35 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 2.95 and a beta of 0.82.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The specialty retailer reported $0.34 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.03). The business had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.55 billion. Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.83 EPS. On average, sell-side analysts expect that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th will be paid a $0.23 dividend. The ex-dividend date is Wednesday, May 28th. This represents a $0.92 dividend on an annualized basis and a yield of 1.85%. Tractor Supply's payout ratio is presently 45.77%.

Tractor Supply declared that its Board of Directors has approved a share 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 buy up to 3.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Raymond James cut their price objective on Tractor Supply from $61.00 to $57.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. UBS Group set a $54.00 target price on shares of Tractor Supply in a research report on Friday, April 25th. JPMorgan Chase & Co. reduced their price objective on Tractor Supply from $59.00 to $56.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. Truist Financial decreased their target price on Tractor Supply from $63.00 to $60.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Finally, Stephens started coverage on shares of Tractor Supply in a research report on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 price target for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $58.02.

Insider Activity

In other Tractor Supply news, SVP Matthew L. Rubin sold 2,810 shares of the firm'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 value of $145,445.60. Following the completion of the sale, the senior vice president now owns 29,722 shares in the company, valued at approximately $1,538,410.72. This trade represents a 8.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.65% of the stock is currently owned by company insiders.

About Tractor Supply

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.