Mackenzie Financial Corp Has $1.80 Billion Stock Holdings in The Toronto-Dominion Bank (NYSE:TD)

Mackenzie Financial Corp reduced its stake in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 1.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 27,833,039 shares of the bank’s stock after selling 452,521 shares during the period. Toronto-Dominion Bank comprises 2.7% of Mackenzie Financial Corp’s holdings, making the stock its 3rd largest position. Mackenzie Financial Corp’s holdings in Toronto-Dominion Bank were worth $1,799,354,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of TD. Cooper Financial Group increased its stake in shares of Toronto-Dominion Bank by 2.4% during the fourth quarter. Cooper Financial Group now owns 8,120 shares of the bank’s stock valued at $525,000 after purchasing an additional 188 shares in the last quarter. Cape Cod Five Cents Savings Bank increased its stake in shares of Toronto-Dominion Bank by 100.0% during the third quarter. Cape Cod Five Cents Savings Bank now owns 16,780 shares of the bank’s stock valued at $1,011,000 after purchasing an additional 8,390 shares in the last quarter. Schechter Investment Advisors LLC increased its stake in shares of Toronto-Dominion Bank by 6.0% during the fourth quarter. Schechter Investment Advisors LLC now owns 7,697 shares of the bank’s stock valued at $497,000 after purchasing an additional 434 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. increased its stake in shares of Toronto-Dominion Bank by 17.3% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,351,526 shares of the bank’s stock valued at $87,784,000 after purchasing an additional 199,603 shares in the last quarter. Finally, Barometer Capital Management Inc. increased its stake in shares of Toronto-Dominion Bank by 84.4% during the third quarter. Barometer Capital Management Inc. now owns 160,078 shares of the bank’s stock valued at $9,646,000 after purchasing an additional 73,274 shares in the last quarter. 52.37% of the stock is owned by institutional investors.

Toronto-Dominion Bank Stock Performance

TD stock traded up $0.08 on Monday, hitting $56.91. The company had a trading volume of 975,025 shares, compared to its average volume of 2,919,241. The stock’s 50-day simple moving average is $59.60 and its 200 day simple moving average is $60.15. The stock has a market cap of $100.34 billion, a price-to-earnings ratio of 12.27, a P/E/G ratio of 1.75 and a beta of 0.86. The Toronto-Dominion Bank has a 12-month low of $54.69 and a 12-month high of $66.15. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.09.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings results on Thursday, February 29th. The bank reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.05. The business had revenue of $10.07 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Toronto-Dominion Bank had a net margin of 11.16% and a return on equity of 14.15%. As a group, equities research analysts expect that The Toronto-Dominion Bank will post 5.85 earnings per share for the current fiscal year.

Toronto-Dominion Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 9th will be paid a dividend of $0.7519 per share. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $0.75. The ex-dividend date is Monday, April 8th. This represents a $3.01 dividend on an annualized basis and a dividend yield of 5.28%. Toronto-Dominion Bank’s payout ratio is 30.56%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Barclays assumed coverage on shares of Toronto-Dominion Bank in a research report on Wednesday, March 20th. They set an “equal weight” rating for the company. Bank of America downgraded shares of Toronto-Dominion Bank from a “buy” rating to a “neutral” rating in a research report on Monday, December 18th. Scotiabank downgraded shares of Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research report on Wednesday, December 20th. Finally, Jefferies Financial Group assumed coverage on shares of Toronto-Dominion Bank in a research report on Thursday, February 22nd. They set a “hold” rating for the company. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $89.33.

Toronto-Dominion Bank 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.