Federated Hermes Inc. Has $24.43 Million Stake in TD SYNNEX Co. (NYSE:SNX)

Federated Hermes Inc. decreased its holdings in shares of TD SYNNEX Co. (NYSE:SNX) by 36.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 227,045 shares of the business services provider’s stock after selling 127,573 shares during the quarter. Federated Hermes Inc.’s holdings in TD SYNNEX were worth $24,432,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Diversified Trust Co lifted its stake in TD SYNNEX by 15.9% in the fourth quarter. Diversified Trust Co now owns 2,989 shares of the business services provider’s stock valued at $322,000 after acquiring an additional 409 shares during the last quarter. Raymond James Trust N.A. lifted its stake in TD SYNNEX by 9.0% in the fourth quarter. Raymond James Trust N.A. now owns 3,613 shares of the business services provider’s stock valued at $389,000 after acquiring an additional 297 shares during the last quarter. Schwartz Investment Counsel Inc. lifted its stake in TD SYNNEX by 10.8% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 102,500 shares of the business services provider’s stock valued at $11,030,000 after acquiring an additional 10,000 shares during the last quarter. Signaturefd LLC lifted its stake in TD SYNNEX by 28.9% in the third quarter. Signaturefd LLC now owns 954 shares of the business services provider’s stock valued at $95,000 after acquiring an additional 214 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in TD SYNNEX by 4.0% in the third quarter. Vanguard Group Inc. now owns 5,008,606 shares of the business services provider’s stock valued at $500,159,000 after acquiring an additional 193,198 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, insider Dennis Polk sold 20,000 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $118.10, for a total value of $2,362,000.00. Following the transaction, the insider now directly owns 134,706 shares of the company’s stock, valued at approximately $15,908,778.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Richard T. Hume sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $105.57, for a total value of $1,055,700.00. Following the sale, the chief executive officer now directly owns 229,363 shares in the company, valued at approximately $24,213,851.91. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Dennis Polk sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the completion of the sale, the insider now owns 134,706 shares in the company, valued at $15,908,778.60. The disclosure for this sale can be found here. Insiders have sold a total of 34,355 shares of company stock valued at $3,883,685 in the last ninety days. 1.90% of the stock is currently owned by company insiders.

TD SYNNEX Price Performance

NYSE:SNX opened at $113.32 on Monday. TD SYNNEX Co. has a 52 week low of $86.30 and a 52 week high of $119.87. The firm has a market cap of $10.10 billion, a price-to-earnings ratio of 16.45, a P/E/G ratio of 1.06 and a beta of 1.64. The firm’s 50-day simple moving average is $107.55 and its 200 day simple moving average is $102.69. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.75 and a current ratio of 1.22.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings results on Tuesday, March 26th. The business services provider reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.12. TD SYNNEX had a net margin of 1.12% and a return on equity of 12.16%. The business had revenue of $13.98 billion for the quarter, compared to analyst estimates of $14.37 billion. As a group, sell-side analysts predict that TD SYNNEX Co. will post 11.38 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.41%. The ex-dividend date is Thursday, April 11th. TD SYNNEX’s dividend payout ratio is currently 23.22%.

Analyst Ratings Changes

A number of brokerages have commented on SNX. Bank of America increased their price target on shares of TD SYNNEX from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Royal Bank of Canada restated a “sector perform” rating and set a $118.00 target price (up previously from $110.00) on shares of TD SYNNEX in a research note on Wednesday, March 27th. Barrington Research raised their target price on shares of TD SYNNEX from $122.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Barclays raised their target price on shares of TD SYNNEX from $111.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 27th. Finally, JPMorgan Chase & Co. raised their target price on shares of TD SYNNEX from $113.00 to $126.00 and gave the stock a “neutral” rating in a research note on Monday, April 1st. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $121.82.

TD SYNNEX Profile

TD SYNNEX Corporation operates as a distributor and solutions aggregator for the information technology (IT) ecosystem. The company offers personal computing devices and peripherals, mobile phones and accessories, printers, supplies, and endpoint technology software; and data center technologies, such as hybrid cloud, security, storage, networking, servers, technology software, and converged and hyper-converged infrastructure, as well as computing components.