Stock Traders Buy High Volume of Toro Put Options (NYSE:TTC)

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

Toro Stock Performance

TTC stock opened at $75.06 on Friday. The business’s fifty day moving average is $77.49 and its 200-day moving average is $74.39. The company has a quick ratio of 0.79, a current ratio of 1.88 and a debt-to-equity ratio of 0.72. The company has a market cap of $7.35 billion, a P/E ratio of 22.74 and a beta of 0.85. Toro has a twelve month low of $62.34 and a twelve month high of $89.50.

Toro (NYSE:TTC) last posted its quarterly earnings results on Thursday, September 4th. The company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.02. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.16 billion. Toro had a return on equity of 28.98% and a net margin of 7.37%.The firm’s quarterly revenue was down 2.2% on a year-over-year basis. 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. Equities research analysts forecast that Toro will post 4.41 EPS for the current year.

Toro Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 21st. Investors of record on Tuesday, October 7th were given a $0.38 dividend. The ex-dividend date was Tuesday, October 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.0%. Toro’s dividend payout ratio is currently 46.06%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Northland Securities boosted their target price on Toro from $80.00 to $90.00 and gave the stock a “market perform” rating in a report on Tuesday, September 9th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Toro in a report on Wednesday, October 8th. Longbow Research raised Toro from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a report on Monday, August 25th. DA Davidson upped their price objective on Toro from $93.00 to $97.00 and gave the stock a “buy” rating in a report on Friday, September 5th. Finally, Robert W. Baird upped their price objective on Toro from $82.00 to $86.00 and gave the stock a “neutral” rating in a report on Friday, September 5th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Toro presently has an average rating of “Hold” and an average target price of $92.60.

Institutional Trading of Toro

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Toro by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 10,495,037 shares of the company’s stock valued at $763,514,000 after buying an additional 169,865 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Toro by 16.4% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 8,187,609 shares of the company’s stock valued at $595,649,000 after buying an additional 1,156,314 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Toro by 1,184.6% in the 1st quarter. AQR Capital Management LLC now owns 1,963,253 shares of the company’s stock valued at $142,827,000 after buying an additional 1,810,429 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Toro by 39.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,534,760 shares of the company’s stock valued at $111,654,000 after buying an additional 434,257 shares in the last quarter. Finally, King Luther Capital Management Corp increased its position in shares of Toro by 3.2% in the 1st quarter. King Luther Capital Management Corp now owns 1,077,753 shares of the company’s stock valued at $78,407,000 after buying an additional 33,920 shares in the last quarter. Institutional investors own 87.95% of the company’s stock.

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.