The Toro Company (NYSE:TTC) Stock Holdings Increased by Korea Investment CORP

Korea Investment CORP increased its stake in The Toro Company (NYSE:TTC - Free Report) by 217.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 90,259 shares of the company's stock after buying an additional 61,800 shares during the quarter. Korea Investment CORP owned about 0.09% of Toro worth $7,230,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC grew its holdings in Toro by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,959,875 shares of the company's stock valued at $169,639,000 after purchasing an additional 29,105 shares in the last quarter. Bank of New York Mellon Corp grew its position 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 in the last quarter. Amundi increased its stake in Toro by 30.3% during the fourth quarter. Amundi now owns 1,121,116 shares of the company's stock valued at $89,701,000 after purchasing an additional 260,746 shares during the last quarter. King Luther Capital Management Corp raised its stake in Toro by 3.6% during the fourth quarter. King Luther Capital Management Corp now owns 1,043,833 shares of the company's stock worth $83,611,000 after acquiring an additional 36,750 shares during the period. Finally, US Bancorp DE raised its position in shares of Toro by 3.2% during the 4th quarter. US Bancorp DE now owns 799,385 shares of the company's stock worth $64,031,000 after purchasing an additional 24,596 shares during the period. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of research firms recently issued reports on TTC. Raymond James reduced their price objective on Toro from $100.00 to $95.00 and set an "outperform" rating for the company in a research report on Friday, December 20th. Robert W. Baird lowered their price target on shares of Toro from $88.00 to $84.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. StockNews.com downgraded shares of Toro from a "buy" rating to a "hold" rating in a research report on Tuesday, March 18th. Northland Capmk upgraded shares of Toro from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 21st. Finally, Northland Securities raised Toro from a "market perform" rating to an "outperform" rating and set a $100.00 price target on the stock in a report on Monday, February 24th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Toro presently has a consensus rating of "Moderate Buy" and a consensus target price of $89.75.

Toro Price Performance

Shares of Toro stock traded down $6.16 on Thursday, hitting $67.70. The company had a trading volume of 955,276 shares, compared to its average volume of 951,882. The Toro Company has a 52 week low of $67.70 and a 52 week high of $100.93. The company has a market cap of $6.76 billion, a PE ratio of 16.88 and a beta of 0.72. The business has a 50-day simple moving average of $78.34 and a 200-day simple moving average of $81.76. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 0.74.

Toro Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Monday, March 31st. Toro's dividend payout ratio (DPR) is presently 38.87%.

Toro declared that its Board of Directors has authorized a stock buyback plan on Tuesday, December 10th that permits the company to buyback 4,000,000 shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

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.