Millennium Management LLC Sells 482,019 Shares of Toro Company (The) $TTC

Key Points

• Millennium Management LLC reduced its stake in Toro Company by 62.8% during the first quarter, selling 482,019 shares, resulting in ownership of approximately 285,863 shares valued at $20.8 million.
• Analysts have mixed views on Toro, with price targets ranging from $90.00 to $100.00, but a consensus average target price of $92.60 indicating a "Moderate Buy" rating.
• Toro reported earnings of $1.24 per share for the last quarter, exceeding estimates slightly, but its revenue of $1.13 billion came in below expectations, reflecting a 2.2% year-over-year decline.

Millennium Management LLC lowered its holdings in Toro Company (The) (NYSE:TTC - Free Report) by 62.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 285,863 shares of the company's stock after selling 482,019 shares during the period. Millennium Management LLC owned about 0.29% of Toro worth $20,797,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. raised 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 worth $1,033,000 after purchasing an additional 173 shares in the last quarter. 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 worth $29,000 after purchasing an additional 206 shares in the last quarter. Baird Financial Group Inc. raised its stake in Toro by 5.3% in the 4th quarter. Baird Financial Group Inc. now owns 4,396 shares of the company's stock worth $352,000 after purchasing an additional 220 shares in the last quarter. Cornerstone Wealth Management LLC raised its stake in Toro by 9.1% in the 1st quarter. Cornerstone Wealth Management LLC now owns 2,866 shares of the company's stock worth $209,000 after purchasing an additional 240 shares in the last quarter. Finally, Brooklyn Investment Group raised its stake in Toro by 94.1% in the 1st quarter. Brooklyn Investment Group now owns 495 shares of the company's stock worth $36,000 after purchasing an additional 240 shares in the last quarter. Institutional investors own 87.95% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on TTC. Northland Securities lifted their price objective on shares of Toro from $80.00 to $90.00 and gave the stock a "market perform" rating in a research note on Tuesday, September 9th. Longbow Research upgraded shares of Toro from a "neutral" rating to a "buy" rating and set a $100.00 price objective for the company in a research report on Monday, August 25th. DA Davidson upped their price objective on shares of Toro from $93.00 to $97.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Robert W. Baird boosted their target price on shares of Toro from $82.00 to $86.00 and gave the stock a "neutral" rating in a report on Friday, September 5th. Finally, Raymond James Financial reduced their target price on shares of Toro from $95.00 to $90.00 and set an "outperform" rating on the stock in a report on Friday, June 6th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Toro currently has a consensus rating of "Moderate Buy" and a consensus target price of $92.60.

Toro Stock Up 1.2%

TTC traded up $0.91 during trading on Thursday, hitting $80.04. 543,693 shares of the company's stock were exchanged, compared to its average volume of 870,369. The company has a quick ratio of 0.79, a current ratio of 1.88 and a debt-to-equity ratio of 0.72. The business's 50 day moving average is $77.07 and its two-hundred day moving average is $73.61. Toro Company has a fifty-two week low of $62.34 and a fifty-two week high of $89.50. The stock has a market cap of $7.83 billion, a P/E ratio of 24.25 and a beta of 0.80.

Toro (NYSE:TTC - Get Free Report) last released its quarterly earnings data on Thursday, September 4th. The company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.02. Toro had a net margin of 7.37% and a return on equity of 28.98%. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the company posted $1.18 earnings per share. The business's revenue was down 2.2% on a year-over-year basis. Toro has set its FY 2025 guidance at 4.150-4.150 EPS. As a group, equities analysts expect that Toro Company will post 4.41 earnings per share for the current fiscal year.

Insider Activity at Toro

In other news, VP Kurt D. Svendsen sold 6,000 shares of the stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $70.99, for a total value of $425,940.00. Following the completion of the sale, the vice president owned 11,646 shares in the company, valued at $826,749.54. This represents a 34.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.39% of the stock is currently owned by corporate insiders.

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.