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

Toronto Dominion Bank grew its holdings in Tractor Supply (NASDAQ:TSCO - Free Report) by 371.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in TSCO. Smithfield Trust Co lifted its stake in shares of Tractor Supply by 286.2% in the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock worth $25,000 after buying an additional 352 shares during the last quarter. Coppell Advisory Solutions LLC lifted its stake in shares of Tractor Supply by 944.4% in the fourth quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer's stock worth $25,000 after buying an additional 425 shares during the last quarter. PrairieView Partners LLC lifted its stake in shares of Tractor Supply by 400.0% in the fourth quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer's stock worth $26,000 after buying an additional 400 shares during the last quarter. Archer Investment Corp lifted its stake in shares of Tractor Supply by 400.0% in the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock worth $27,000 after buying an additional 400 shares during the last quarter. Finally, Kentucky Trust Co acquired a new stake in shares of Tractor Supply in the fourth quarter worth $27,000. 98.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Tractor Supply from $59.00 to $56.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Wall Street Zen upgraded shares of Tractor Supply from a "sell" rating to a "hold" rating in a research note on Saturday, May 24th. Truist Financial cut their target price on shares of Tractor Supply from $63.00 to $60.00 and set a "buy" rating for the company in a research note on Friday, January 31st. UBS Group set a $54.00 target price on shares of Tractor Supply in a research note on Friday, April 25th. Finally, Telsey Advisory Group set a $60.00 target price on shares of Tractor Supply in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $58.02.

Insider Activity

In related news, SVP Matthew L. Rubin sold 2,810 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $51.76, for a total transaction of $145,445.60. Following the transaction, the senior vice president now directly owns 29,722 shares in the company, valued at approximately $1,538,410.72. The trade was a 8.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.65% of the stock is owned by corporate insiders.

Tractor Supply Stock Down 1.1%

TSCO stock traded down $0.55 during mid-day trading on Friday, hitting $48.42. 7,785,239 shares of the company were exchanged, compared to its average volume of 5,174,335. 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 firm has a market cap of $25.67 billion, a P/E ratio of 23.74, a P/E/G ratio of 2.95 and a beta of 0.82. The firm's 50 day simple moving average is $51.15 and its 200 day simple moving average is $53.70. Tractor Supply has a 1-year low of $46.85 and a 1-year high of $61.53.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its 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 company 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 quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the business posted $1.83 earnings per share. On average, sell-side analysts predict that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.90%. Tractor Supply's dividend payout ratio (DPR) is presently 45.77%.

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

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.