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

Toro Company (The) (NYSE:TTC) was the recipient of some unusual options trading on Wednesday. Investors acquired 1,176 put options on the stock. This represents an increase of approximately 1,709% compared to the average daily volume of 65 put options.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TTC. Robert W. Baird lifted their price target on Toro from $100.00 to $105.00 and gave the company a “neutral” rating in a research note on Friday, March 6th. Wall Street Zen upgraded Toro from a “buy” rating to a “strong-buy” rating in a research note on Sunday, March 15th. Raymond James Financial lowered Toro from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 18th. DA Davidson lifted their price target on Toro from $97.00 to $117.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Toro in a research note on Friday, April 17th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Toro presently has a consensus rating of “Hold” and a consensus target price of $100.40.

Insider Activity

In related news, CEO Richard M. Olson sold 119,400 shares of Toro stock in a transaction dated 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. The trade was a 75.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Calvin O’rourke sold 4,951 shares of Toro stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $99.40, for a total value of $492,129.40. Following the completion of the transaction, the director owned 2,704 shares of the company’s stock, valued at approximately $268,777.60. This represents a 64.68% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.88% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Pinnacle Bancorp Inc. acquired a new position in shares of Toro during the 1st quarter worth approximately $39,000. Danske Bank A S acquired a new position in shares of Toro during the 3rd quarter worth approximately $46,000. Root Financial Partners LLC boosted its holdings in shares of Toro by 277.8% during the 1st quarter. Root Financial Partners LLC now owns 971 shares of the company’s stock worth $91,000 after purchasing an additional 714 shares during the last quarter. Quent Capital LLC acquired a new position in shares of Toro during the 3rd quarter worth approximately $97,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in Toro in the third quarter valued at approximately $119,000. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Toro Trading Down 3.9%

Shares of Toro stock opened at $91.00 on Thursday. The stock has a market cap of $8.82 billion, a P/E ratio of 27.25 and a beta of 0.73. The stock’s 50 day simple moving average is $95.17 and its 200-day simple moving average is $87.09. Toro has a 1-year low of $67.04 and a 1-year high of $105.18. 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 (NYSE:TTC) last issued 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. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1 billion. Toro had a return on equity of 29.60% and a net margin of 7.28%.The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.65 EPS. Toro has set its FY 2026 guidance at 4.400-4.600 EPS. Analysts predict that Toro will post 4.52 EPS for the current fiscal year.

Toro Announces Dividend

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

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.