Investors Buy Large Volume of Put Options on Toro (NYSE:TTC)

Toro Company (The) (NYSE:TTC) was the target of unusually large options trading on Wednesday. Stock traders purchased 1,176 put options on the company. This is an increase of approximately 1,709% compared to the typical daily volume of 65 put options.

Institutional Trading of Toro

Hedge funds and other institutional investors have recently bought and sold shares of the business. KLP Kapitalforvaltning AS boosted its stake in shares of Toro by 0.6% during the third quarter. KLP Kapitalforvaltning AS now owns 32,900 shares of the company’s stock valued at $2,507,000 after purchasing an additional 200 shares during the period. GAMMA Investing LLC lifted its holdings in Toro by 8.1% during the 3rd quarter. GAMMA Investing LLC now owns 3,155 shares of the company’s stock valued at $240,000 after buying an additional 237 shares in the last quarter. Brooklyn Investment Group boosted its position in Toro by 94.1% in the 1st 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 period. Versor Investments LP boosted its position in Toro by 3.1% in the 1st quarter. Versor Investments LP now owns 8,400 shares of the company’s stock valued at $611,000 after buying an additional 253 shares during the period. Finally, Cetera Investment Advisers grew its stake in Toro by 4.2% in the 1st quarter. Cetera Investment Advisers now owns 6,936 shares of the company’s stock worth $505,000 after acquiring an additional 282 shares in the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Longbow Research upgraded Toro from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research report on Monday, August 25th. DA Davidson upped their price target on shares of Toro from $93.00 to $97.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Northland Securities increased their price objective on shares of Toro from $80.00 to $90.00 and gave the company a “market perform” rating in a research report on Tuesday, September 9th. 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, Weiss Ratings restated a “hold (c-)” rating on shares of Toro in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Toro has a consensus rating of “Hold” and an average target price of $92.60.

Toro Price Performance

TTC stock opened at $71.61 on Friday. The stock has a market cap of $7.01 billion, a PE ratio of 21.70 and a beta of 0.85. Toro has a 12 month low of $62.34 and a 12 month high of $89.50. The company has a 50-day moving average price of $75.88 and a 200 day moving average price of $74.80. The company has a current ratio of 1.88, a quick ratio of 0.79 and a debt-to-equity ratio of 0.72.

Toro (NYSE:TTC) last posted its quarterly earnings data on Thursday, September 4th. The company reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.02. Toro had a net margin of 7.37% and a return on equity of 28.98%. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the company posted $1.18 EPS. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. Toro has set its FY 2025 guidance at 4.150-4.150 EPS. Equities research analysts anticipate that Toro will post 4.41 earnings per share for the current year.

Toro Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 21st. Shareholders of record on Tuesday, October 7th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, October 7th. Toro’s dividend payout ratio is 46.06%.

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.