Beutel Goodman & Co Ltd. grew its stake in shares of The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD by 3.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,803,807 shares of the bank's stock after acquiring an additional 622,736 shares during the period. Toronto-Dominion Bank comprises approximately 4.9% of Beutel Goodman & Co Ltd.'s holdings, making the stock its 2nd biggest position. Beutel Goodman & Co Ltd. owned 0.96% of Toronto-Dominion Bank worth $894,169,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently modified their holdings of TD. Vanguard Group Inc. raised its position in shares of Toronto-Dominion Bank by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 74,118,551 shares of the bank's stock valued at $3,946,072,000 after acquiring an additional 1,415,934 shares in the last quarter. Norges Bank acquired a new stake in shares of Toronto-Dominion Bank during the fourth quarter worth $992,204,000. CIBC Asset Management Inc lifted its position in shares of Toronto-Dominion Bank by 0.4% in the 4th quarter. CIBC Asset Management Inc now owns 16,575,599 shares of the bank's stock worth $882,241,000 after buying an additional 59,956 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Toronto-Dominion Bank by 6.4% in the 3rd quarter. Geode Capital Management LLC now owns 7,962,173 shares of the bank's stock valued at $506,846,000 after buying an additional 479,624 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Toronto-Dominion Bank by 3.4% during the 4th quarter. JPMorgan Chase & Co. now owns 7,213,418 shares of the bank's stock valued at $384,042,000 after buying an additional 236,037 shares during the last quarter. Institutional investors own 52.37% of the company's stock.
Toronto-Dominion Bank Stock Performance
Shares of NYSE TD traded up $0.52 during midday trading on Wednesday, reaching $59.86. 810,484 shares of the company traded hands, compared to its average volume of 2,553,870. The company has a market cap of $104.90 billion, a price-to-earnings ratio of 17.25, a PEG ratio of 1.95 and a beta of 0.83. The stock has a 50-day moving average price of $59.08 and a 200 day moving average price of $57.58. The Toronto-Dominion Bank has a 52 week low of $51.25 and a 52 week high of $64.91. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.03 and a quick ratio of 1.03.
Toronto-Dominion Bank Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 10th will be issued a dividend of $0.7278 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.91 annualized dividend and a yield of 4.86%. Toronto-Dominion Bank's payout ratio is 85.29%.
Analyst Ratings Changes
TD has been the topic of a number of recent research reports. Scotiabank cut shares of Toronto-Dominion Bank from a "sector outperform" rating to a "sector perform" rating in a report on Friday, December 6th. Jefferies Financial Group downgraded Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a report on Tuesday, February 18th. Desjardins downgraded Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a research note on Friday, December 6th. StockNews.com cut Toronto-Dominion Bank from a "hold" rating to a "sell" rating in a research note on Monday, February 24th. Finally, Bank of America upgraded shares of Toronto-Dominion Bank from a "neutral" rating to a "buy" rating in a research report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $80.50.
View Our Latest Research Report on TD
About Toronto-Dominion Bank
(
Free Report)
The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.
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