Mackenzie Financial Corp Lowers Stock Position in Toronto Dominion Bank (The) $TD

Key Points

• Mackenzie Financial Corp trimmed its stake in Toronto Dominion Bank by 8.1% in Q3, selling 2,253,999 shares to hold 25,577,746 shares (about 2.5% of Mackenzie's portfolio), representing a 1.51% ownership stake valued at roughly $2.045 billion; institutional investors own about 52.37% of TD.
• TD reported quarterly EPS of $1.76 (vs. $1.63 est.) and revenue of $11.01 billion (beating estimates), announced a quarterly dividend of $1.08 ($4.32 annual, ~4.5% yield, ex-dividend April 9), and trades at a market cap of about $160.2 billion with a consensus rating of "Moderate Buy" and an average price target of $93.00.

Mackenzie Financial Corp decreased its holdings in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 8.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,577,746 shares of the bank's stock after selling 2,253,999 shares during the quarter. Toronto Dominion Bank accounts for approximately 2.5% of Mackenzie Financial Corp's investment portfolio, making the stock its 6th largest position. Mackenzie Financial Corp owned 1.51% of Toronto Dominion Bank worth $2,044,750,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Commons Capital LLC grew its stake in Toronto Dominion Bank by 0.7% during the third quarter. Commons Capital LLC now owns 18,251 shares of the bank's stock worth $1,459,000 after purchasing an additional 134 shares during the period. Essex Financial Services Inc. increased its stake in Toronto Dominion Bank by 1.8% during the 3rd quarter. Essex Financial Services Inc. now owns 7,834 shares of the bank's stock valued at $626,000 after purchasing an additional 139 shares in the last quarter. HBK Sorce Advisory LLC raised its holdings in shares of Toronto Dominion Bank by 5.0% in the 3rd quarter. HBK Sorce Advisory LLC now owns 2,953 shares of the bank's stock worth $238,000 after acquiring an additional 141 shares during the last quarter. Journey Strategic Wealth LLC raised its stake in shares of Toronto Dominion Bank by 3.7% in the third quarter. Journey Strategic Wealth LLC now owns 4,031 shares of the bank's stock worth $322,000 after purchasing an additional 145 shares during the last quarter. Finally, Tobam lifted its stake in Toronto Dominion Bank by 44.5% during the 2nd quarter. Tobam now owns 490 shares of the bank's stock valued at $36,000 after acquiring an additional 151 shares in the last quarter. Institutional investors own 52.37% of the company's stock.

Toronto Dominion Bank Price Performance

TD opened at $95.84 on Wednesday. The stock has a market capitalization of $160.17 billion, a P/E ratio of 10.59, a P/E/G ratio of 1.09 and a beta of 0.66. The company's 50-day simple moving average is $95.47 and its two-hundred day simple moving average is $86.85. Toronto Dominion Bank has a 52-week low of $54.87 and a 52-week high of $99.84. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.05 and a current ratio of 1.05.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last posted its quarterly earnings data on Thursday, February 26th. The bank reported $1.76 EPS for the quarter, topping the consensus estimate of $1.63 by $0.13. The firm had revenue of $11.01 billion during the quarter, compared to analyst estimates of $10.43 billion. Toronto Dominion Bank had a return on equity of 14.29% and a net margin of 17.52%.Toronto Dominion Bank's revenue was up 18.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.02 EPS. As a group, analysts predict that Toronto Dominion Bank will post 5.48 EPS for the current year.

Toronto Dominion Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 9th will be paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Thursday, April 9th. Toronto Dominion Bank's dividend payout ratio (DPR) is presently 34.81%.

Wall Street Analysts Forecast Growth

TD has been the topic of several research analyst reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Toronto Dominion Bank in a research report on Wednesday, January 21st. Jefferies Financial Group lowered shares of Toronto Dominion Bank from a "buy" rating to a "hold" rating in a research note on Tuesday, November 25th. Canadian Imperial Bank of Commerce cut shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 12th. Wall Street Zen upgraded Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research note on Monday, March 2nd. Finally, Zacks Research raised Toronto Dominion Bank from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 18th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Toronto Dominion Bank presently has a consensus rating of "Moderate Buy" and an average price target of $93.00.

About Toronto Dominion Bank

Toronto-Dominion Bank (TD) is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. Formed through the 1955 merger of the Bank of Toronto (founded 1855) and the Dominion Bank (founded 1869), TD is one of Canada's largest banks and offers a broad range of financial products and services to individual, small business, commercial and institutional clients.

TD's core businesses include Canadian and U.S. personal and commercial banking, wealth management, wholesale banking and insurance.

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