The Toro Company (NYSE:TTC) Shares Bought by Olympiad Research LP

Olympiad Research LP increased its position in The Toro Company (NYSE:TTC) by 86.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,921 shares of the company’s stock after buying an additional 2,281 shares during the period. Olympiad Research LP’s holdings in Toro were worth $427,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Toro by 25.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,653,109 shares of the company’s stock worth $609,626,000 after purchasing an additional 1,332,248 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Toro by 37,332.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 470,901 shares of the company’s stock worth $44,034,000 after buying an additional 469,643 shares during the period. Point72 Asset Management L.P. boosted its stake in Toro by 682.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 482,139 shares of the company’s stock worth $45,085,000 after buying an additional 420,539 shares during the last quarter. Millennium Management LLC grew its holdings in Toro by 11,970.3% in the 2nd quarter. Millennium Management LLC now owns 393,008 shares of the company’s stock valued at $36,750,000 after buying an additional 389,752 shares during the period. Finally, Champlain Investment Partners LLC increased its stake in shares of Toro by 11.5% during the 1st quarter. Champlain Investment Partners LLC now owns 2,725,651 shares of the company’s stock valued at $249,751,000 after acquiring an additional 280,855 shares during the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.

Toro Price Performance

TTC stock opened at $84.85 on Thursday. The firm has a market cap of $8.71 billion, a P/E ratio of 22.27 and a beta of 0.69. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.85 and a current ratio of 1.94. The Toro Company has a 1 year low of $77.15 and a 1 year high of $102.00. The stock has a 50-day simple moving average of $84.59 and a 200-day simple moving average of $88.29.

Toro (NYSE:TTC) last posted its earnings results on Thursday, September 5th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.26 billion. Toro had a return on equity of 25.94% and a net margin of 8.89%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.95 earnings per share. On average, equities analysts predict that The Toro Company will post 4.16 earnings per share for the current fiscal year.

Toro Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date was Monday, September 30th. Toro’s payout ratio is 37.80%.

Analysts Set New Price Targets

Several brokerages have commented on TTC. Northland Securities restated a “market perform” rating and set a $100.00 price target on shares of Toro in a research note on Friday, September 6th. StockNews.com raised shares of Toro from a “hold” rating to a “buy” rating in a research report on Monday, September 9th. Robert W. Baird reduced their price target on shares of Toro from $102.00 to $92.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. Finally, DA Davidson dropped their price objective on shares of Toro from $103.00 to $88.00 and set a “neutral” rating for the company in a research report on Monday, September 9th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $93.33.

About Toro

The Toro Company designs, manufactures, markets, and sells professional turf maintenance equipment and services. It operates through two segments: Professional and Residential. The Professional segment offers turf and landscape equipment products, including sports fields and grounds mowing and maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, and other maintenance equipment; rental, specialty, and underground construction equipment, such as horizontal directional drills, walk and ride trenchers, stand-on skid steers, vacuum excavators, stump grinders, turf renovation products, asset locators, pipe rehabilitation solutions, materials handling equipment, and other after-market tools; and snow and ice management equipment, such as snowplows, as well as stand-on snow and ice removal equipment, such as snowplow, snow brush, and snow thrower attachments, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, utility task vehicles, skid steers, and front-end loaders.