Toro Company (The) $TTC Shares Sold by Millennium Management LLC

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 trimmed its position in Toro Company (The) (NYSE:TTC - Free Report) by 62.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 285,863 shares of the company's stock after selling 482,019 shares during the quarter. Millennium Management LLC owned about 0.29% of Toro worth $20,797,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. increased its stake in Toro by 1.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 14,199 shares of the company's stock worth $1,033,000 after acquiring an additional 173 shares during the last quarter. True Wealth Design LLC increased its stake in Toro by 127.2% during the fourth quarter. True Wealth Design LLC now owns 368 shares of the company's stock worth $29,000 after acquiring an additional 206 shares during the last quarter. Baird Financial Group Inc. increased its stake 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 acquiring an additional 220 shares during the last quarter. Cornerstone Wealth Management LLC grew its stake in shares of Toro by 9.1% during the first quarter. Cornerstone Wealth Management LLC now owns 2,866 shares of the company's stock valued at $209,000 after buying an additional 240 shares during the last quarter. Finally, Brooklyn Investment Group grew its stake in shares of Toro by 94.1% during the first quarter. Brooklyn Investment Group now owns 495 shares of the company's stock valued at $36,000 after buying an additional 240 shares during the last quarter. 87.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Longbow Research raised Toro from a "neutral" rating to a "buy" rating and set a $100.00 target price on the stock in a research note on Monday, August 25th. DA Davidson upped their target price on Toro from $93.00 to $97.00 and gave the company a "buy" rating in a research note on Friday, September 5th. Raymond James Financial cut their target price on Toro from $95.00 to $90.00 and set an "outperform" rating on the stock in a research note on Friday, June 6th. Northland Securities increased their price objective on Toro from $80.00 to $90.00 and gave the stock a "market perform" rating in a research note on Tuesday, September 9th. Finally, Robert W. Baird increased their price objective on Toro from $82.00 to $86.00 and gave the stock a "neutral" rating in a research note on Friday, September 5th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Toro has an average rating of "Moderate Buy" and an average target price of $92.60.

Toro Stock Up 0.3%

Shares of TTC traded up $0.25 during midday trading on Monday, hitting $79.53. 549,883 shares of the company's stock traded hands, compared to its average volume of 846,344. Toro Company has a 1 year low of $62.34 and a 1 year high of $89.50. The firm's fifty day moving average is $76.81 and its 200-day moving average is $73.51. The company has a current ratio of 1.88, a quick ratio of 0.79 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $7.78 billion, a price-to-earnings ratio of 24.10 and a beta of 0.80.

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

Insider Transactions at Toro

In related news, VP Kurt D. Svendsen sold 6,000 shares of the firm's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $70.99, for a total value of $425,940.00. Following the completion of the transaction, the vice president owned 11,646 shares in the company, valued at $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 at this link. 0.39% of the stock is owned by company 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.