Mackenzie Financial Corp Buys New Stake in Toro Company (The) (NYSE:TTC)

Mackenzie Financial Corp purchased a new position in shares of Toro Company (The) (NYSE:TTC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,170 shares of the company's stock, valued at approximately $522,000.

A number of other institutional investors also recently made changes to their positions in the stock. True Wealth Design LLC raised its stake in Toro by 127.2% in the 4th quarter. True Wealth Design LLC now owns 368 shares of the company's stock valued at $29,000 after purchasing an additional 206 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of Toro by 30.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company's stock worth $43,000 after buying an additional 127 shares in the last quarter. Financial Harvest LLC acquired a new position in shares of Toro in the first quarter valued at approximately $42,000. Allworth Financial LP lifted its stake in shares of Toro by 91.6% during the first quarter. Allworth Financial LP now owns 663 shares of the company's stock valued at $46,000 after buying an additional 317 shares during the period. Finally, Versant Capital Management Inc lifted its stake in shares of Toro by 81.2% during the first quarter. Versant Capital Management Inc now owns 868 shares of the company's stock valued at $63,000 after buying an additional 389 shares during the period. 87.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on TTC. Robert W. Baird lifted their target price on shares of Toro from $84.00 to $85.00 and gave the stock 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 report on Monday, June 9th. Northland Securities reiterated a "market perform" rating and set a $80.00 target price (down from $100.00) on shares of Toro in a research report on Friday, June 6th. Raymond James Financial decreased their price target on Toro from $95.00 to $90.00 and set an "outperform" rating on the stock in a research note on Friday, June 6th. Finally, Northland Capmk downgraded shares of Toro from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 6th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $82.75.

Toro Trading Down 1.2%

Shares of TTC opened at $73.45 on Friday. Toro Company has a twelve month low of $62.34 and a twelve month high of $93.00. The firm has a market capitalization of $7.25 billion, a P/E ratio of 18.83 and a beta of 0.80. The company has a current ratio of 1.81, a quick ratio of 0.79 and a debt-to-equity ratio of 0.73. The stock's fifty day simple moving average is $72.88 and its 200 day simple moving average is $74.20.

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

Toro Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Tuesday, June 17th were given a $0.38 dividend. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $1.52 annualized dividend and a dividend yield of 2.1%. Toro's dividend payout ratio is presently 38.97%.

Insider Buying and Selling at Toro

In other Toro news, Director Gary Lee Ellis sold 5,038 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $2,411,930.22. This trade represents a 12.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Kurt D. Svendsen sold 6,000 shares of the business's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $70.99, for a total value of $425,940.00. Following the transaction, the vice president owned 11,646 shares in the company, valued at approximately $826,749.54. This represents a 34.00% decrease in their position. The disclosure for this sale can be found here. 0.39% of the stock is owned by corporate insiders.

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.

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