Burgundy Asset Management Ltd. Purchases 1,306,946 Shares of The Toronto-Dominion Bank (NYSE:TD)

Burgundy Asset Management Ltd. raised its stake in The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD by 137.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,258,881 shares of the bank's stock after acquiring an additional 1,306,946 shares during the quarter. Burgundy Asset Management Ltd. owned approximately 0.13% of Toronto-Dominion Bank worth $120,143,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new position in Toronto-Dominion Bank in the 4th quarter valued at approximately $992,204,000. FIL Ltd raised its holdings in Toronto-Dominion Bank by 17.3% in the 4th quarter. FIL Ltd now owns 38,989,749 shares of the bank's stock valued at $2,075,819,000 after buying an additional 5,756,584 shares during the last quarter. Geode Capital Management LLC raised its holdings in Toronto-Dominion Bank by 32.2% in the 4th quarter. Geode Capital Management LLC now owns 10,526,821 shares of the bank's stock valued at $569,878,000 after buying an additional 2,564,648 shares during the last quarter. Vanguard Group Inc. raised its holdings in Toronto-Dominion Bank by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 74,118,551 shares of the bank's stock valued at $3,946,072,000 after buying an additional 1,415,934 shares during the last quarter. Finally, Toronto Dominion Bank raised its holdings in Toronto-Dominion Bank by 9.7% in the 4th quarter. Toronto Dominion Bank now owns 10,305,222 shares of the bank's stock valued at $547,992,000 after buying an additional 912,401 shares during the last quarter. Institutional investors own 52.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Wall Street Zen raised shares of Toronto-Dominion Bank from a "sell" rating to a "hold" rating in a research report on Saturday. Jefferies Financial Group downgraded shares of Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Scotiabank assumed coverage on shares of Toronto-Dominion Bank in a research report on Thursday, May 15th. They set a "sector perform" rating for the company. Finally, Royal Bank of Canada increased their target price on shares of Toronto-Dominion Bank from $87.00 to $93.00 and gave the company a "sector perform" rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $93.00.

Toronto-Dominion Bank Trading Up 0.7%

Shares of TD stock traded up $0.49 during trading hours on Tuesday, hitting $68.19. 1,527,653 shares of the company were exchanged, compared to its average volume of 2,370,253. The firm has a market cap of $118.37 billion, a P/E ratio of 19.65, a P/E/G ratio of 1.95 and a beta of 0.81. The Toronto-Dominion Bank has a fifty-two week low of $51.25 and a fifty-two week high of $68.74. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.03 and a current ratio of 1.03. The company has a 50 day simple moving average of $61.54 and a two-hundred day simple moving average of $58.23.

Toronto-Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last announced its quarterly earnings data on Thursday, May 22nd. The bank reported $1.39 EPS for the quarter, topping the consensus estimate of $1.25 by $0.14. The company had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $13.36 billion. Toronto-Dominion Bank had a net margin of 7.37% and a return on equity of 13.96%. During the same quarter last year, the firm posted $2.04 EPS. Equities analysts anticipate that The Toronto-Dominion Bank will post 5.48 EPS for the current year.

Toronto-Dominion Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 10th will be given a dividend of $0.7568 per share. This is an increase from Toronto-Dominion Bank's previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $3.03 annualized dividend and a dividend yield of 4.44%. Toronto-Dominion Bank's dividend payout ratio (DPR) is 42.67%.

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.