SEC Form SC 13G/A filed by Toro Company (Amendment)

2/14/23 12:37:58 PM ET

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SC 13G/A 1 ttc13gadec22.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 1) TORO CO (Name of Issuer) COMMON STOCK (Title of Class of Securities) 891092108 (CUSIP NUMBER) December 31, 2022 (Date of Event which Requires Filing of Statement) Check the appropriate box to designate the Rule pursuant to which this Schedule is filed: [x] Rule 13d - 1(b) Rule 13d - 1(c) Rule 13d - 1(d) 1. Name of Reporting Person T. ROWE PRICE ASSOCIATES, INC. 52-0556948 2. Check the Appropriate Box if a Member of a Group NOT APPLICABLE 3. SEC Use Only 4. Citizenship or Place of Organization Maryland Number of Shares Beneficially Owned by Each Reporting Person With 5. Sole Voting Power* 921,889 6. Shared Voting Power* 0 7. Sole Dispositive Power* 5,067,162 8. Shared Dispositive Power 0 9. Aggregate Amount Beneficially Owned by Each Reporting Person 5,067,162 10. Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares NOT APPLICABLE 11. Percent of Class Represented by Amount in Row 9 4.9% 12. Type of Reporting Person IA *Any shares reported in Items 5 and 6 are also reported in Item 7. Item 1(a) Name of Issuer: TORO CO Item 1(b) Address of Issuer's Principal Executive Offices: 8111 LYNDALE AVE SOUTH, BLOOMINGTON, MINNESOTA 55420-1196 Item 2(a) Name of Person(s) Filing: (1) T. ROWE PRICE ASSOCIATES, INC. (Price Associates) Item 2(b) Address of Principal Business Office: 100 E. Pratt Street, Baltimore, MD 21202 Item 2(c) Citizenship or Place of Organization: (1) Maryland Item 2(d) Title of Class of Securities: COMMON STOCK Item 2(e) Cusip Number: 891092108 Item 3: The person filing this Schedule 13G is an: X Investment Adviser registered under Section 203 of the Investment Advisers Act of 1940 Item 4: Reference is made to Items 5-11 on the preceding pages of this Schedule 13G. Item 5: Ownership of Five Percent or Less of a Class This statement is being filed to report the fact that, as of the date of this report, the reporting person(s) has (have) ceased to be the beneficial owner of more than five percent of the class of securities. Item 6: Ownership of More than Five Percent on Behalf of Another Person (1) Price Associates does not serve as custodian of the assets of any of its clients; accordingly, in each instance only the client or the client's custodian or trustee bank has the right to receive dividends paid with respect to, and proceeds from the sale of, such securities. The ultimate power to direct the receipt of dividends paid with respect to, and the proceeds from the sale of, such securities, is vested in the individual and institutional clients which Price Associates serves as investment adviser. Any and all discretionary authority which has been delegated to Price Associates may be revoked in whole or in part at any time. Except as may be indicated if this is a joint filing with one of the registered investment companies sponsored by Price Associates which it also serves as investment adviser ("T. Rowe Price Funds"), not more than 5% of the class of such securities is owned by any one client subject to the investment advice of Price Associates. (2) With respect to securities owned by any one of the T. Rowe Price Funds, only the custodian for each of such Funds, has the right to receive dividends paid with respect to, and proceeds from the sale of, such securities. No other person is known to have such right, except that the shareholders of each such Fund participate proportionately in any dividends and distributions so paid. Item 7: Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company. Not Applicable Item 8: Identification and Classification of Members of the Group Not Applicable Item 9: Notice of Dissolution of Group Not Applicable Item 10: Certification By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. T. Rowe Price Associates, Inc. hereby declares and affirms that the filing of Schedule 13G shall not be construed as an admission that Price Associates is the beneficial owner of the securities referred to, which beneficial ownership is expressly denied. Signature. After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. T. ROWE PRICE ASSOCIATES, INC. Date: February 14, 2023 Signature: /s/ David Oestreicher Name & Title: David Oestreicher, Executive Vice President 12/31/2022

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Date	Price Target	Rating	Analyst
6/6/2025	$100.00 → $80.00	Outperform → Market Perform	Northland Capital
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12/5/2023	$110.00 → $87.00	Buy → Neutral	DA Davidson
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4/17/2023	$110.00	Market Perform	Northland Capital
12/23/2022	$130.00	Mkt Perform → Outperform	Raymond James
9/6/2022		Neutral → Buy	Northcoast

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SEC Form SC 13G/A filed by Toro Company (Amendment)

2/14/23 12:37:58 PM ET

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Tools/Hardware

Consumer Discretionary

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Recent Analyst Ratings for

$TTC

Date	Price Target	Rating	Analyst
6/6/2025	$100.00 → $80.00	Outperform → Market Perform	Northland Capital
2/24/2025	$100.00	Market Perform → Outperform	Northland Capital
12/5/2023	$110.00 → $87.00	Buy → Neutral	DA Davidson
6/22/2023	$117.00	Buy	DA Davidson
5/19/2023	$133.00	Buy	CL King
4/17/2023	$110.00	Market Perform	Northland Capital
12/23/2022	$130.00	Mkt Perform → Outperform	Raymond James
9/6/2022		Neutral → Buy	Northcoast

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SEC Form SC 13G/A filed by Toro Company (Amendment)

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SEC Form SC 13G/A filed by Toro Company (Amendment)

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Insider Purchases

Group VP, Golf, Grounds & Irr Funk Edric C bought $8,009 worth of shares (115 units at $69.64), increasing direct ownership by 32% to 476 units (SEC Form 4)

Group VP, Golf, Grounds & Irr Funk Edric C bought $4,939 worth of shares (67 units at $73.53) (SEC Form 4)

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Insider Trading

VP, Strategy, Corp Dev & Sust Baab Jason P exercised 2,719 shares at a strike of $74.25 and covered exercise/tax liability with 832 shares, increasing direct ownership by 102% to 3,736 units (SEC Form 4)

VP, Technology Svendsen Kurt D exercised 6,000 shares at a strike of $38.82 and sold $425,969 worth of shares (6,000 units at $70.99) (SEC Form 4)

Chairman & CEO Olson Richard M exercised 44,400 shares at a strike of $38.82 and covered exercise/tax liability with 31,611 shares, increasing direct ownership by 59% to 34,312 units (SEC Form 4)

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Press Releases

The Toro Company Names Edric C. Funk President and Chief Operating Officer

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SEC Filings

Amendment: SEC Form SCHEDULE 13G/A filed by Toro Company

SEC Form 11-K filed by Toro Company

SEC Form 10-Q filed by Toro Company

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Analyst Ratings

Toro downgraded by Northland Capital with a new price target

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Toro downgraded by DA Davidson with a new price target

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Large Ownership Changes

Amendment: SEC Form SC 13G/A filed by Toro Company