Point72 Hong Kong Ltd Has $385,000 Stock Position in The Toro Company (NYSE:TTC)

Point72 Hong Kong Ltd reduced its holdings in shares of The Toro Company (NYSE:TTC - Free Report) by 81.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,806 shares of the company's stock after selling 20,714 shares during the period. Point72 Hong Kong Ltd's holdings in Toro were worth $385,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of TTC. ProShare Advisors LLC grew its stake in Toro by 21.4% during the 4th quarter. ProShare Advisors LLC now owns 409,775 shares of the company's stock worth $32,823,000 after buying an additional 72,292 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in shares of Toro by 53.5% in the 4th quarter. Quantinno Capital Management LP now owns 43,940 shares of the company's stock valued at $3,520,000 after buying an additional 15,313 shares during the period. Man Group plc raised its holdings in Toro by 165.2% in the 4th quarter. Man Group plc now owns 273,080 shares of the company's stock worth $21,874,000 after purchasing an additional 170,128 shares during the period. Nissay Asset Management Corp Japan ADV raised its holdings in Toro by 18.1% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 24,746 shares of the company's stock worth $2,005,000 after purchasing an additional 3,791 shares during the period. Finally, Nomura Holdings Inc. acquired a new position in Toro in the 4th quarter worth about $1,091,000. 87.95% of the stock is owned by institutional investors.

Toro Stock Down 0.1%

NYSE:TTC traded down $0.08 during mid-day trading on Tuesday, hitting $76.78. The company had a trading volume of 673,644 shares, compared to its average volume of 974,297. The business has a fifty day simple moving average of $70.69 and a 200-day simple moving average of $78.16. The company has a current ratio of 1.81, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $7.66 billion, a price-to-earnings ratio of 19.15 and a beta of 0.83. The Toro Company has a 1 year low of $62.34 and a 1 year high of $100.93.

Toro Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, June 17th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.98%. Toro's dividend payout ratio is 38.87%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Northland Securities upgraded Toro from a "market perform" rating to an "outperform" rating and set a $100.00 price objective for the company in a research note on Monday, February 24th. StockNews.com cut Toro from a "buy" rating to a "hold" rating in a report on Tuesday, March 18th. Northland Capmk upgraded Toro from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 21st. DA Davidson reduced their price objective on Toro from $86.00 to $80.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Finally, Robert W. Baird cut their price target on Toro from $88.00 to $84.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $89.75.

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.