Toyota Motor Corporation $TM Stock: Park Avenue Securities LLC Lowers Stake

Key Points

• Park Avenue Securities cut its Toyota Motor stake by 31.2% in the third quarter, selling 5,533 shares and retaining 12,184 shares valued at approximately $2.23 million.
• Analyst sentiment remains positive: Toyota has a consensus “Buy” rating, supported by four Strong Buy, one Buy and two Hold recommendations, with a consensus price target of $290.
• Toyota shares opened at $195.79, while the company reported quarterly EPS of $7.42 on $83.16 billion in revenue. President Kenta Kon also purchased 85,000 shares, substantially increasing his ownership.

Park Avenue Securities LLC reduced its position in shares of Toyota Motor Corporation (NYSE:TM - Free Report) by 31.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 12,184 shares of the company's stock after selling 5,533 shares during the quarter. Park Avenue Securities LLC's holdings in Toyota Motor were worth $2,231,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Royal Bank of Canada raised its stake in Toyota Motor by 19.0% during the first quarter. Royal Bank of Canada now owns 237,220 shares of the company's stock valued at $48,888,000 after purchasing an additional 37,893 shares in the last quarter. First Trust Advisors LP lifted its position in Toyota Motor by 1.3% during the first quarter. First Trust Advisors LP now owns 177,609 shares of the company's stock valued at $36,603,000 after purchasing an additional 2,304 shares during the last quarter. Quantinno Capital Management LP grew its stake in shares of Toyota Motor by 28.7% in the 1st quarter. Quantinno Capital Management LP now owns 157,114 shares of the company's stock worth $32,380,000 after buying an additional 35,025 shares in the last quarter. QRG Capital Management Inc. grew its stake in shares of Toyota Motor by 20.3% in the 1st quarter. QRG Capital Management Inc. now owns 76,844 shares of the company's stock worth $15,837,000 after buying an additional 12,975 shares in the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of Toyota Motor by 2.9% in the 1st quarter. Cetera Investment Advisers now owns 71,628 shares of the company's stock worth $14,762,000 after buying an additional 2,042 shares during the last quarter. 1.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TM has been the topic of a number of analyst reports. Weiss Ratings upgraded shares of Toyota Motor from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, October 8th. Erste Group Bank raised shares of Toyota Motor from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 18th. Finally, Zacks Research upgraded shares of Toyota Motor from a "hold" rating to a "strong-buy" rating in a report on Thursday. Four equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $290.00.

Insiders Place Their Bets

In related news, President Kenta Kon bought 85,000 shares of the company's stock in a transaction on Wednesday, August 5th. The shares were bought at an average price of $18.41 per share, with a total value of $1,564,850.00. Following the transaction, the president owned 148,100 shares in the company, valued at approximately $2,726,521. This trade represents a 134.71% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Toyota Motor Price Performance

Shares of TM opened at $195.79 on Friday. The company has a market cap of $255.18 billion, a price-to-earnings ratio of 8.63, a price-to-earnings-growth ratio of 1.24 and a beta of 0.61. Toyota Motor Corporation has a twelve month low of $166.10 and a twelve month high of $248.90. The company has a quick ratio of 1.00, a current ratio of 1.17 and a debt-to-equity ratio of 0.68. The company has a 50 day moving average of $192.14 and a two-hundred day moving average of $199.18.

Toyota Motor (NYSE:TM - Get Free Report) last issued its quarterly earnings results on Tuesday, June 30th. The company reported $7.42 earnings per share (EPS) for the quarter. The business had revenue of $83.16 billion for the quarter. Toyota Motor had a return on equity of 11.21% and a net margin of 8.61%. As a group, analysts predict that Toyota Motor Corporation will post 21.17 earnings per share for the current fiscal year.

Toyota Motor Company Profile

Toyota Motor Corporation is a Japanese automaker headquartered in Toyota City, Aichi Prefecture. Founded in 1937, the company develops, manufactures and sells passenger vehicles, commercial vehicles and related mobility products under the Toyota and Lexus brands. It also produces vehicles through the Hino and Daihatsu businesses.

Toyota's product portfolio includes cars, trucks, sport utility vehicles, minivans and buses, along with hybrid-electric, battery-electric and hydrogen fuel-cell vehicles.

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