US Bancorp DE Decreases Stock Holdings in Toro Company (The) (NYSE:TTC)

Key Points

• US Bancorp DE decreased its stake in Toro Company by 0.5%, owning approximately 0.80% of the company worth $57.89 million after selling 3,615 shares in the first quarter.
• Insider transactions saw VP Kurt D. Svendsen and Director Gary Lee Ellis decrease their positions in Toro Company by 34% and 12.88% respectively, selling shares valued at over $780,000 combined.
• Analysts have mixed ratings on Toro, with a consensus target price of $82.75, while recent price adjustments include a boost to $85.00 from Robert W. Baird and a reduction to $90.00 from Raymond James Financial.

US Bancorp DE reduced its stake in shares of Toro Company (The) (NYSE:TTC - Free Report) by 0.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 795,770 shares of the company's stock after selling 3,615 shares during the quarter. US Bancorp DE owned approximately 0.80% of Toro worth $57,892,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. True Wealth Design LLC increased its position 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 purchasing an additional 206 shares during the period. Financial Harvest LLC purchased a new position in Toro during the 1st quarter valued at $42,000. CIBC Private Wealth Group LLC increased its position in Toro by 30.2% during the 4th 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 period. Allworth Financial LP increased its position in Toro by 91.6% during the 1st quarter. Allworth Financial LP now owns 663 shares of the company's stock valued at $46,000 after purchasing an additional 317 shares during the period. Finally, Versant Capital Management Inc increased its position in Toro by 81.2% during the 1st quarter. Versant Capital Management Inc now owns 868 shares of the company's stock valued at $63,000 after purchasing an additional 389 shares during the period. 87.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Toro

In other Toro news, VP Kurt D. Svendsen sold 6,000 shares of the stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $70.99, for a total transaction of $425,940.00. Following 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 document filed with the SEC, which is accessible through this hyperlink. Also, Director Gary Lee Ellis sold 5,038 shares of the business's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $70.81, for a total value of $356,740.78. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on TTC shares. Robert W. Baird boosted their price objective on shares of Toro from $84.00 to $85.00 and gave the company a "neutral" rating in a research report on Tuesday, June 3rd. Raymond James Financial reduced their price objective on shares of Toro from $95.00 to $90.00 and set an "outperform" rating on the stock in a research report on Friday, June 6th. DA Davidson set a $76.00 target price on shares of Toro and gave the company a "neutral" rating in a report on Monday, June 9th. Northland Capmk cut shares of Toro from a "strong-buy" rating to a "hold" rating in a report on Friday, June 6th. Finally, Northland Securities restated a "market perform" rating and set a $80.00 target price (down previously from $100.00) on shares of Toro in a report on Friday, June 6th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $82.75.

Toro Stock Performance

Shares of TTC stock opened at $72.90 on Friday. Toro Company has a 12 month low of $62.34 and a 12 month high of $93.00. The stock has a market cap of $7.19 billion, a PE ratio of 18.69 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 company's fifty day moving average price is $72.96 and its 200-day moving average price is $74.44.

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

Toro Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors 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 yield of 2.1%. Toro's dividend payout ratio is 38.97%.

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.

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