Zurcher Kantonalbank Zurich Cantonalbank Has $1.33 Million Stock Position in Toro Company (The) (NYSE:TTC)

Key Points

• Zurcher Kantonalbank reduced its holdings in Toro Company by 70.9% in the first quarter, selling 44,491 shares and now holding 18,271 shares valued at approximately $1,329,000.
• Toro reported earnings of $1.42 per share for the last quarter, exceeding analysts' expectations, but experienced a 2.3% decline in revenue compared to the same quarter last year.
• The company declared a quarterly dividend of $0.38 per share, resulting in an annualized dividend yield of 2.1%, with a current dividend payout ratio of 38.97%.

Zurcher Kantonalbank Zurich Cantonalbank decreased its stake in Toro Company (The) (NYSE:TTC - Free Report) by 70.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,271 shares of the company's stock after selling 44,491 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Toro were worth $1,329,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the stock. CIBC Private Wealth Group LLC grew its position in shares of Toro by 30.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company's stock valued at $43,000 after purchasing an additional 127 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Toro by 1.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 14,199 shares of the company's stock valued at $1,033,000 after buying an additional 173 shares in the last quarter. True Wealth Design LLC grew its holdings in Toro by 127.2% during the 4th quarter. True Wealth Design LLC now owns 368 shares of the company's stock valued at $29,000 after buying an additional 206 shares during the last quarter. Baird Financial Group Inc. increased its position in Toro by 5.3% during the fourth quarter. Baird Financial Group Inc. now owns 4,396 shares of the company's stock worth $352,000 after buying an additional 220 shares in the last quarter. Finally, IHT Wealth Management LLC raised its holdings in shares of Toro by 7.9% in the fourth quarter. IHT Wealth Management LLC now owns 3,287 shares of the company's stock worth $263,000 after acquiring an additional 240 shares during the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

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

Toro Stock Performance

NYSE TTC traded down $0.93 during trading hours on Thursday, reaching $73.41. The company's stock had a trading volume of 178,345 shares, compared to its average volume of 969,349. The stock has a market cap of $7.24 billion, a PE ratio of 18.83 and a beta of 0.80. The business has a 50-day simple moving average of $72.93 and a 200 day simple moving average of $74.27. Toro Company has a 52 week low of $62.34 and a 52 week high of $93.00. The company has a current ratio of 1.81, a quick ratio of 0.79 and a debt-to-equity ratio of 0.73.

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

Toro Dividend Announcement

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

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.