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

Toronto Dominion Bank boosted its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 371.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 191,480 shares of the specialty retailer’s stock after purchasing an additional 150,905 shares during the quarter. Toronto Dominion Bank’s holdings in Tractor Supply were worth $10,160,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Tractor Supply by 392.5% in the fourth quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer’s stock valued at $3,397,643,000 after buying an additional 51,031,178 shares during the period. Wellington Management Group LLP boosted its stake in Tractor Supply by 401.8% in the 4th quarter. Wellington Management Group LLP now owns 23,789,249 shares of the specialty retailer’s stock valued at $1,262,258,000 after buying an additional 19,048,385 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Tractor Supply by 403.3% in 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 last quarter. Capital World Investors grew its stake in Tractor Supply by 403.7% during the fourth 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 position in Tractor Supply by 334.7% during the 4th quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer’s stock worth $818,421,000 after acquiring an additional 11,880,010 shares during the last quarter. 98.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

TSCO has been the topic of a number of research analyst reports. Mizuho decreased their price objective on shares of Tractor Supply from $62.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Stephens initiated coverage on Tractor Supply in a research note on Wednesday, April 9th. They set an “equal weight” rating and a $56.00 price objective for the company. Telsey Advisory Group set a $60.00 target price on shares of Tractor Supply in a research note on Friday, April 25th. Raymond James lowered their price target on Tractor Supply from $61.00 to $57.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Finally, Guggenheim lowered their price objective on shares of Tractor Supply from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Tractor Supply has a consensus rating of “Moderate Buy” and a consensus price target of $58.02.

Tractor Supply Stock Performance

Shares of TSCO stock opened at $51.60 on Wednesday. The stock has a market cap of $27.36 billion, a P/E ratio of 25.29, a P/E/G ratio of 2.95 and a beta of 0.82. The company has a fifty day moving average price of $51.65 and a two-hundred day moving average price of $54.06. Tractor Supply has a one year low of $46.85 and a one year high of $61.53. 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 (NASDAQ:TSCO) last posted its earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm’s revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.83 earnings per share. As a group, equities analysts predict that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Wednesday, May 28th. Tractor Supply’s payout ratio is 45.77%.

Tractor Supply declared that its board has approved a stock repurchase plan on Thursday, February 13th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the specialty retailer to purchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Tractor Supply news, SVP Matthew L. Rubin sold 2,810 shares of Tractor Supply stock in a transaction 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 transaction, the senior vice president now directly owns 29,722 shares of the company’s stock, valued at $1,538,410.72. The trade was a 8.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.65% of the company’s stock.

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.