Canada Pension Plan Investment Board Sells 2,171,900 Shares of The Toronto-Dominion Bank (NYSE:TD)

Canada Pension Plan Investment Board decreased its holdings in shares of The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD by 27.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,794,789 shares of the bank's stock after selling 2,171,900 shares during the quarter. Canada Pension Plan Investment Board owned 0.33% of Toronto-Dominion Bank worth $308,118,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of TD. Morse Asset Management Inc bought a new position in Toronto-Dominion Bank during the third quarter valued at approximately $63,000. MML Investors Services LLC boosted its position in Toronto-Dominion Bank by 12.2% during the third quarter. MML Investors Services LLC now owns 12,063 shares of the bank's stock valued at $763,000 after buying an additional 1,309 shares during the period. Passumpsic Savings Bank increased its holdings in shares of Toronto-Dominion Bank by 2.6% in the third quarter. Passumpsic Savings Bank now owns 7,530 shares of the bank's stock worth $476,000 after buying an additional 194 shares during the period. Tudor Financial Inc. purchased a new stake in Toronto-Dominion Bank during the 3rd quarter valued at about $268,000. Finally, World Investment Advisors LLC purchased a new position in Toronto-Dominion Bank in the 3rd quarter worth approximately $265,000. 52.37% of the stock is currently owned by institutional investors.

Toronto-Dominion Bank Stock Performance

NYSE:TD traded up $1.16 during trading hours on Tuesday, reaching $61.98. The company had a trading volume of 456,871 shares, compared to its average volume of 2,345,538. The firm has a market cap of $108.61 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 1.95 and a beta of 0.73. The Toronto-Dominion Bank has a 52 week low of $51.25 and a 52 week high of $64.91. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.11. The firm's 50 day moving average price is $59.27 and its 200-day moving average price is $57.06.

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 paid a $0.7278 dividend. This represents a $2.91 annualized dividend and a dividend yield of 4.70%. The ex-dividend date is Thursday, April 10th. Toronto-Dominion Bank's dividend payout ratio (DPR) is presently 85.59%.

Analysts Set New Price Targets

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

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.