Baskin Financial Services Inc. Decreases Stake in The Toronto-Dominion Bank (NYSE:TD)

Baskin Financial Services Inc. lowered its holdings in shares of The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD by 46.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,681 shares of the bank's stock after selling 4,895 shares during the period. Baskin Financial Services Inc.'s holdings in Toronto-Dominion Bank were worth $302,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of TD. Cerity Partners LLC increased its position in Toronto-Dominion Bank by 57.1% during the 3rd quarter. Cerity Partners LLC now owns 26,755 shares of the bank's stock valued at $1,693,000 after purchasing an additional 9,725 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Toronto-Dominion Bank by 1.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,761,308 shares of the bank's stock worth $617,166,000 after buying an additional 144,427 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Toronto-Dominion Bank by 61.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,011,579 shares of the bank's stock worth $380,118,000 after buying an additional 2,279,864 shares during the last quarter. Galibier Capital Management Ltd. lifted its holdings in Toronto-Dominion Bank by 24.6% in the third quarter. Galibier Capital Management Ltd. now owns 608,613 shares of the bank's stock valued at $38,527,000 after buying an additional 119,978 shares during the period. Finally, Forsta AP Fonden boosted its position in Toronto-Dominion Bank by 3.2% during the third quarter. Forsta AP Fonden now owns 466,500 shares of the bank's stock valued at $29,531,000 after acquiring an additional 14,500 shares during the last quarter. Institutional investors and hedge funds own 52.37% of the company's stock.

Toronto-Dominion Bank Stock Up 0.7 %

TD stock traded up $0.40 during midday trading on Thursday, reaching $57.86. 1,938,200 shares of the company's stock traded hands, compared to its average volume of 2,939,387. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.11. The firm's fifty day moving average price is $54.77 and its 200-day moving average price is $57.38. The Toronto-Dominion Bank has a 52 week low of $51.25 and a 52 week high of $64.91. The company has a market cap of $101.28 billion, a price-to-earnings ratio of 16.67, a P/E/G ratio of 1.82 and a beta of 0.84.

Toronto-Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 10th were given a dividend of $0.7482 per share. The ex-dividend date was Friday, January 10th. This is an increase from Toronto-Dominion Bank's previous quarterly dividend of $0.74. This represents a $2.99 annualized dividend and a dividend yield of 5.17%. Toronto-Dominion Bank's payout ratio is presently 84.15%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Desjardins downgraded Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a research note on Friday, December 6th. Barclays cut Toronto-Dominion Bank from an "equal weight" rating to an "underweight" rating in a report on Thursday, November 21st. Royal Bank of Canada lowered their price objective on shares of Toronto-Dominion Bank from $82.00 to $77.00 and set a "sector perform" rating for the company in a research note on Friday, December 6th. BMO Capital Markets raised shares of Toronto-Dominion Bank from a "market perform" rating to an "outperform" rating in a research note on Thursday, December 19th. Finally, Jefferies Financial Group upgraded shares of Toronto-Dominion Bank from a "hold" rating to a "buy" rating in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $80.50.

About Toronto-Dominion Bank

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.