Canada Pension Plan Investment Board Cuts Holdings in The Toronto-Dominion Bank (NYSE:TD)

Canada Pension Plan Investment Board cut its holdings in shares of The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD by 27.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,794,789 shares of the bank's stock after selling 2,171,900 shares during the period. Canada Pension Plan Investment Board owned 0.33% of Toronto-Dominion Bank worth $308,118,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Lee Danner & Bass Inc. acquired a new position in shares of Toronto-Dominion Bank during the 4th quarter worth about $27,000. Bank of Jackson Hole Trust bought a new position in Toronto-Dominion Bank during the 4th quarter worth approximately $32,000. Versant Capital Management Inc grew its holdings in Toronto-Dominion Bank by 40.0% during the fourth quarter. Versant Capital Management Inc now owns 700 shares of the bank's stock valued at $37,000 after purchasing an additional 200 shares during the period. Murphy & Mullick Capital Management Corp bought a new stake in Toronto-Dominion Bank in the fourth quarter valued at approximately $39,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Toronto-Dominion Bank in the fourth quarter worth $51,000. Institutional investors own 52.37% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on TD. Bank of America raised Toronto-Dominion Bank from a "neutral" rating to a "buy" rating in a research note on Friday, January 17th. Jefferies Financial Group cut Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Finally, StockNews.com cut shares of Toronto-Dominion Bank from a "hold" rating to a "sell" rating in a research note on Monday, February 24th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $80.50.

Toronto-Dominion Bank Price Performance

TD traded up $0.23 on Friday, hitting $60.67. 1,560,387 shares of the stock were exchanged, compared to its average volume of 2,507,586. The firm has a market capitalization of $106.31 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 1.95 and a beta of 0.73. The Toronto-Dominion Bank has a 12 month low of $51.25 and a 12 month high of $64.91. The business has a 50-day moving average of $59.25 and a two-hundred day moving average of $57.12. 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 firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th will be given a $0.7278 dividend. This represents a $2.91 annualized dividend and a dividend yield of 4.80%. The ex-dividend date of this dividend is Thursday, April 10th. Toronto-Dominion Bank's dividend payout ratio (DPR) is presently 85.59%.

Toronto-Dominion Bank Company Profile

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.