The Toro Company (NYSE:TTC) Shares Sold by Sherbrooke Park Advisers LLC

Sherbrooke Park Advisers LLC cut its stake in The Toro Company (NYSE:TTC) by 79.7% in the fourth quarter, Holdings Channel reports. The fund owned 2,817 shares of the company’s stock after selling 11,028 shares during the period. Sherbrooke Park Advisers LLC’s holdings in Toro were worth $226,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Captrust Financial Advisors increased its stake in shares of Toro by 33.8% in the 4th quarter. Captrust Financial Advisors now owns 52,934 shares of the company’s stock worth $4,240,000 after acquiring an additional 13,373 shares during the last quarter. LPL Financial LLC increased its stake in shares of Toro by 33.6% in the 4th quarter. LPL Financial LLC now owns 57,435 shares of the company’s stock worth $4,601,000 after acquiring an additional 14,433 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Toro by 294.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 24,652 shares of the company’s stock worth $1,975,000 after acquiring an additional 18,401 shares during the last quarter. Quantbot Technologies LP increased its stake in shares of Toro by 111.4% in the 4th quarter. Quantbot Technologies LP now owns 51,945 shares of the company’s stock worth $4,161,000 after acquiring an additional 27,376 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Toro by 5.3% in the 4th quarter. Bank of New York Mellon Corp now owns 1,187,550 shares of the company’s stock worth $95,123,000 after acquiring an additional 60,068 shares during the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TTC. Robert W. Baird cut their target price on Toro from $88.00 to $84.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Northland Securities upgraded Toro from a “market perform” rating to an “outperform” rating and set a $100.00 price target for the company in a report on Monday, February 24th. Northland Capmk upgraded Toro from a “hold” rating to a “strong-buy” rating in a report on Friday, February 21st. DA Davidson lowered their price target on Toro from $86.00 to $80.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Finally, StockNews.com cut Toro from a “buy” rating to a “hold” rating in a report on Tuesday, March 18th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Toro currently has an average rating of “Moderate Buy” and a consensus price target of $89.75.

Toro Stock Performance

NYSE TTC opened at $76.78 on Wednesday. The stock has a market cap of $7.66 billion, a PE ratio of 19.15 and a beta of 0.83. The company has a current ratio of 1.81, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59. The Toro Company has a twelve month low of $62.34 and a twelve month high of $100.93. The stock has a fifty day simple moving average of $70.69 and a 200-day simple moving average of $78.16.

Toro Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, June 17th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.98%. Toro’s dividend payout ratio (DPR) is 38.87%.

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.