Toro Company (The) (NYSE:TTC) Shares Sold by Callan Family Office LLC

Key Points

• Callan Family Office LLC reduced its holdings in Toro Company by 38.1%, owning 6,566 shares worth approximately $478,000 after selling 4,047 shares during the first quarter.
• Several hedge funds adjusted their positions in Toro, with True Wealth Design LLC increasing its stake by 127.2% in the previous fourth quarter.
• Toro Company has a current average rating of "Hold" from analysts, with a revised consensus target price of $82.75 and recent earnings showing a 2.3% revenue decline year-over-year.

Callan Family Office LLC lowered its position in Toro Company (The) (NYSE:TTC - Free Report) by 38.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,566 shares of the company's stock after selling 4,047 shares during the period. Callan Family Office LLC's holdings in Toro were worth $478,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Toro by 45.5% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,031,295 shares of the company's stock valued at $563,207,000 after buying an additional 2,199,920 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Toro during the 4th quarter valued at approximately $36,561,000. Boston Trust Walden Corp raised its stake in Toro by 133.3% in the 1st quarter. Boston Trust Walden Corp now owns 779,419 shares of the company's stock valued at $56,703,000 after purchasing an additional 445,287 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Toro by 411.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 464,609 shares of the company's stock valued at $37,215,000 after purchasing an additional 373,736 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Toro by 36.9% in the 4th quarter. Northern Trust Corp now owns 1,081,782 shares of the company's stock valued at $86,651,000 after purchasing an additional 291,593 shares during the last quarter. Hedge funds and other institutional investors own 87.95% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Robert W. Baird increased their price objective on Toro from $84.00 to $85.00 and gave the company a "neutral" rating in a research note on Tuesday, June 3rd. DA Davidson set a $76.00 price objective on Toro and gave the company a "neutral" rating in a research note on Monday, June 9th. Northland Securities reissued a "market perform" rating and issued a $80.00 price objective (down from $100.00) on shares of Toro in a research note on Friday, June 6th. Northland Capmk cut Toro from a "strong-buy" rating to a "hold" rating in a report on Friday, June 6th. Finally, Raymond James Financial lowered their target price on Toro from $95.00 to $90.00 and set an "outperform" rating for the company in a report on Friday, June 6th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $82.75.

Insider Activity at Toro

In other Toro news, VP Kurt D. Svendsen sold 6,000 shares of Toro stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $70.99, for a total transaction of $425,940.00. Following the transaction, the vice president owned 11,646 shares of the company's stock, valued at $826,749.54. The trade was a 34.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Gary Lee Ellis sold 5,038 shares of Toro stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $70.81, for a total value of $356,740.78. Following the transaction, the director directly owned 34,062 shares in the company, valued at approximately $2,411,930.22. This trade represents a 12.88% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.39% of the company's stock.

Toro Stock Down 1.4%

Shares of NYSE TTC traded down $1.12 during midday trading on Friday, hitting $76.91. 862,022 shares of the company's stock were exchanged, compared to its average volume of 646,846. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.81 and a quick ratio of 0.79. Toro Company has a twelve month low of $62.34 and a twelve month high of $93.00. The company has a market cap of $7.59 billion, a PE ratio of 19.72 and a beta of 0.80. The firm's fifty day simple moving average is $73.08 and its 200-day simple moving average is $73.71.

Toro (NYSE:TTC - Get Free Report) last issued its earnings results on Thursday, June 5th. The company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.02. Toro had a return on equity of 27.99% and a net margin of 8.77%. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the company earned $1.40 EPS. The business's quarterly revenue was down 2.3% on a year-over-year basis. Research analysts predict that Toro Company will post 4.41 EPS for the current fiscal year.

Toro Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, June 17th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $1.52 annualized dividend and a yield of 2.0%. Toro's payout ratio is 38.97%.

Toro Company Profile

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.