Beutel Goodman & Co Ltd. Sells 580,103 Shares of Toronto Dominion Bank (The) $TD

Beutel Goodman & Co Ltd. trimmed its stake in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 3.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,740,291 shares of the bank’s stock after selling 580,103 shares during the quarter. Toronto Dominion Bank makes up about 6.2% of Beutel Goodman & Co Ltd.’s portfolio, making the stock its largest holding. Beutel Goodman & Co Ltd. owned about 0.86% of Toronto Dominion Bank worth $1,081,998,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in TD. Quaker Wealth Management LLC raised its holdings in Toronto Dominion Bank by 200.0% in the 2nd quarter. Quaker Wealth Management LLC now owns 428 shares of the bank’s stock valued at $31,000 after buying an additional 856 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in Toronto Dominion Bank in the second quarter valued at $32,000. Richardson Financial Services Inc. acquired a new stake in shares of Toronto Dominion Bank in the second quarter valued at about $34,000. Tobam raised its position in shares of Toronto Dominion Bank by 44.5% during the second quarter. Tobam now owns 490 shares of the bank’s stock worth $36,000 after acquiring an additional 151 shares during the last quarter. Finally, VSM Wealth Advisory LLC acquired a new position in shares of Toronto Dominion Bank in the second quarter worth approximately $39,000. 52.37% of the stock is currently owned by institutional investors.

Toronto Dominion Bank Stock Performance

NYSE TD opened at $86.04 on Friday. Toronto Dominion Bank has a 52-week low of $51.25 and a 52-week high of $86.34. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.02 and a current ratio of 1.02. The company has a 50-day simple moving average of $81.33 and a 200 day simple moving average of $75.99. The company has a market capitalization of $145.36 billion, a PE ratio of 10.05, a price-to-earnings-growth ratio of 1.39 and a beta of 0.69.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last released its earnings results on Thursday, December 4th. The bank reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.10. Toronto Dominion Bank had a return on equity of 13.59% and a net margin of 16.40%.The business had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $10.10 billion. During the same period last year, the business posted $1.72 earnings per share. The business’s revenue for the quarter was down .1% on a year-over-year basis. On average, research analysts predict that Toronto Dominion Bank will post 5.48 EPS for the current year.

Toronto Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, January 31st. Shareholders of record on Friday, January 9th will be issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Friday, January 9th. This is a positive change from Toronto Dominion Bank’s previous quarterly dividend of $1.05. Toronto Dominion Bank’s payout ratio is presently 35.28%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Wall Street Zen raised Toronto Dominion Bank from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Desjardins upgraded shares of Toronto Dominion Bank from a “hold” rating to a “buy” rating in a research note on Wednesday, August 13th. Royal Bank Of Canada raised Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research note on Friday, October 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Toronto Dominion Bank in a research report on Wednesday, October 8th. Finally, Raymond James Financial upgraded Toronto Dominion Bank to a “hold” rating in a report on Monday, November 24th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $93.00.

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.