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

Toro Company (The) (NYSE:TTC) saw unusually large options trading activity on Wednesday. Investors purchased 1,176 put options on the stock. This represents an increase of 1,709% compared to the typical volume of 65 put options.

Toro Price Performance

TTC stock opened at $94.43 on Thursday. The business has a 50-day simple moving average of $95.29 and a two-hundred day simple moving average of $82.43. Toro has a 52-week low of $62.34 and a 52-week high of $105.18. The company has a market capitalization of $9.15 billion, a P/E ratio of 28.27 and a beta of 0.80. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.73 and a current ratio of 1.69.

Toro (NYSE:TTC) last released its quarterly earnings results on Thursday, March 5th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.09. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1 billion. Toro had a return on equity of 29.60% and a net margin of 7.28%.Toro’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.65 EPS. Toro has set its FY 2026 guidance at 4.400-4.600 EPS. Research analysts expect that Toro will post 4.41 EPS for the current fiscal year.

Toro Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 13th. Stockholders of record on Monday, March 30th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Monday, March 30th. This represents a $1.56 annualized dividend and a dividend yield of 1.7%. Toro’s dividend payout ratio is currently 46.71%.

Insiders Place Their Bets

In other news, CEO Richard M. Olson sold 119,400 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $100.15, for a total value of $11,957,910.00. Following the completion of the transaction, the chief executive officer directly owned 38,186 shares in the company, valued at approximately $3,824,327.90. This represents a 75.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Calvin O’rourke sold 4,951 shares of the firm’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $99.40, for a total value of $492,129.40. Following the sale, the director directly owned 2,704 shares in the company, valued at approximately $268,777.60. This trade represents a 64.68% decrease in their position. The SEC filing for this sale provides additional information. 1.88% of the stock is currently owned by corporate insiders.

Institutional Trading of Toro

A number of large investors have recently added to or reduced their stakes in TTC. Integrated Wealth Concepts LLC increased its stake in shares of Toro by 10.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 6,136 shares of the company’s stock worth $446,000 after purchasing an additional 586 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Toro by 37.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 456,861 shares of the company’s stock worth $33,237,000 after acquiring an additional 124,373 shares during the period. Caxton Associates LLP purchased a new stake in shares of Toro in the first quarter worth $285,000. Empowered Funds LLC raised its holdings in shares of Toro by 9.8% in the 1st quarter. Empowered Funds LLC now owns 38,840 shares of the company’s stock valued at $2,826,000 after acquiring an additional 3,464 shares in the last quarter. Finally, Focus Partners Wealth raised its stake in Toro by 191.5% in the first quarter. Focus Partners Wealth now owns 7,586 shares of the company’s stock valued at $552,000 after purchasing an additional 4,984 shares in the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Wall Street Analysts Forecast Growth

TTC has been the subject of several recent research reports. Robert W. Baird upped their price objective on Toro from $100.00 to $105.00 and gave the company a “neutral” rating in a research note on Friday, March 6th. DA Davidson lifted their target price on shares of Toro from $97.00 to $117.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. Raymond James Financial lowered shares of Toro from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 18th. Zacks Research upgraded shares of Toro from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 20th. Finally, Wall Street Zen raised shares of Toro from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $100.40.

Toro Company Profile

The Toro Company (NYSE: TTC) specializes in the design, manufacture and marketing of a broad range of outdoor environment equipment for residential, commercial and professional markets. Its product portfolio includes lawn mowers, utility vehicles, snow throwers, irrigation systems and landscape maintenance equipment. Toro’s offerings span walk-behind and ride-on mowers, zero-turn radius mowers, snow blowers, sprinklers, drip irrigation products, spreaders and specialty turf maintenance machines tailored to golf courses, sports fields and municipal parks.

Founded in 1914 and headquartered in Bloomington, Minnesota, Toro has built a century-long legacy of innovation in the grounds-care industry.