Traders Buy Large Volume of Put Options on Toro (NYSE:TTC)
by Tristan Rich · The Markets DailyToro Company (The) (NYSE:TTC – Get Free Report) was the recipient of unusually large options trading on Wednesday. Stock traders bought 1,176 put options on the stock. This is an increase of 1,709% compared to the average volume of 65 put options.
Toro Trading Down 0.9%
NYSE TTC opened at $92.64 on Friday. The company has a market capitalization of $8.98 billion, a price-to-earnings ratio of 27.74 and a beta of 0.80. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.69 and a quick ratio of 0.73. Toro has a 12 month low of $62.34 and a 12 month high of $105.18. The company’s fifty day moving average price is $96.26 and its two-hundred day moving average price is $83.42.
Toro (NYSE:TTC – Get Free Report) last released its earnings results on Thursday, March 5th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.09. Toro had a net margin of 7.28% and a return on equity of 29.60%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the previous year, the firm earned $0.65 EPS. The company’s revenue was up 4.2% on a year-over-year basis. Toro has set its FY 2026 guidance at 4.400-4.600 EPS. As a group, research analysts predict that Toro will post 4.41 earnings per share for the current fiscal year.
Toro Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 13th. Shareholders of record on Monday, March 30th will be paid a dividend of $0.39 per share. The ex-dividend date is Monday, March 30th. This represents a $1.56 annualized dividend and a yield of 1.7%. Toro’s dividend payout ratio is presently 46.71%.
Analyst Upgrades and Downgrades
A number of brokerages have commented on TTC. 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 raised Toro from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 20th. DA Davidson boosted their price target on Toro from $97.00 to $117.00 and gave the stock a “buy” rating in a research note on Monday, March 9th. Robert W. Baird increased their price target on Toro from $100.00 to $105.00 and gave the company a “neutral” rating in a report on Friday, March 6th. Finally, Wall Street Zen upgraded Toro from a “buy” rating to a “strong-buy” rating in a research note on Sunday, March 15th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Toro currently has an average rating of “Hold” and an average price target of $100.40.
Get Our Latest Analysis on Toro
Insider Buying and Selling
In other Toro news, CEO Richard M. Olson sold 119,400 shares of the company’s stock in a transaction that occurred 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 owned 38,186 shares in the company, valued at $3,824,327.90. This represents a 75.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James Calvin O’rourke sold 4,951 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $99.40, for a total transaction of $492,129.40. Following the completion of the sale, the director directly owned 2,704 shares of the company’s stock, valued at $268,777.60. This trade represents a 64.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.88% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its holdings in shares of Toro by 37.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 456,861 shares of the company’s stock valued at $33,237,000 after acquiring an additional 124,373 shares during the last quarter. Campbell & CO Investment Adviser LLC lifted its stake in Toro by 425.6% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 64,783 shares of the company’s stock worth $5,100,000 after purchasing an additional 52,457 shares during the last quarter. TD Private Client Wealth LLC boosted its holdings in Toro by 14,306.0% in the third quarter. TD Private Client Wealth LLC now owns 47,684 shares of the company’s stock worth $3,634,000 after purchasing an additional 47,353 shares during the period. Hillsdale Investment Management Inc. boosted its holdings in Toro by 379.6% in the fourth quarter. Hillsdale Investment Management Inc. now owns 55,630 shares of the company’s stock worth $4,379,000 after purchasing an additional 44,030 shares during the period. Finally, Entropy Technologies LP bought a new stake in Toro during the fourth quarter valued at $1,664,000. Institutional investors and hedge funds own 87.95% of the company’s stock.
About Toro
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.