US Bancorp DE Cuts Stock Position in TD SYNNEX Co. (NYSE:SNX)

US Bancorp DE cut its holdings in TD SYNNEX Co. (NYSE:SNXFree Report) by 20.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,886 shares of the business services provider’s stock after selling 1,471 shares during the quarter. US Bancorp DE’s holdings in TD SYNNEX were worth $633,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. SummerHaven Investment Management LLC boosted its stake in shares of TD SYNNEX by 1.4% in the fourth quarter. SummerHaven Investment Management LLC now owns 7,499 shares of the business services provider’s stock worth $807,000 after acquiring an additional 102 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in shares of TD SYNNEX by 0.6% in the fourth quarter. Teacher Retirement System of Texas now owns 23,242 shares of the business services provider’s stock worth $2,501,000 after acquiring an additional 142 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its stake in shares of TD SYNNEX by 1.9% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 7,890 shares of the business services provider’s stock worth $849,000 after acquiring an additional 146 shares during the last quarter. Assetmark Inc. boosted its stake in shares of TD SYNNEX by 11.8% in the fourth quarter. Assetmark Inc. now owns 2,030 shares of the business services provider’s stock worth $218,000 after acquiring an additional 214 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of TD SYNNEX by 3.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 7,101 shares of the business services provider’s stock worth $764,000 after acquiring an additional 238 shares during the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

TD SYNNEX Stock Performance

Shares of TD SYNNEX stock opened at $129.82 on Friday. TD SYNNEX Co. has a 52 week low of $87.68 and a 52 week high of $132.06. The business’s fifty day simple moving average is $120.88 and its 200-day simple moving average is $109.48. The firm has a market cap of $11.57 billion, a PE ratio of 18.84, a price-to-earnings-growth ratio of 1.24 and a beta of 1.55. The company has a quick ratio of 0.75, a current ratio of 1.22 and a debt-to-equity ratio of 0.38.

TD SYNNEX (NYSE:SNXGet Free Report) last announced its quarterly earnings results on Tuesday, March 26th. The business services provider reported $2.83 EPS for the quarter, beating the consensus estimate of $2.71 by $0.12. The business had revenue of $13.98 billion for the quarter, compared to analyst estimates of $14.37 billion. TD SYNNEX had a return on equity of 12.16% and a net margin of 1.12%. Equities analysts forecast that TD SYNNEX Co. will post 11.38 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were issued a $0.40 dividend. The ex-dividend date was Thursday, April 11th. This represents a $1.60 annualized dividend and a dividend yield of 1.23%. TD SYNNEX’s dividend payout ratio is presently 23.22%.

Insider Activity at TD SYNNEX

In related news, insider Dennis Polk sold 20,000 shares of the business’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $118.10, for a total value of $2,362,000.00. Following the sale, the insider now owns 134,706 shares in the company, valued at approximately $15,908,778.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other TD SYNNEX news, CEO Richard T. Hume sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $115.79, for a total transaction of $1,157,900.00. Following the sale, the chief executive officer now owns 219,363 shares in the company, valued at approximately $25,400,041.77. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Dennis Polk sold 20,000 shares of the company’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $118.10, for a total value of $2,362,000.00. Following the sale, the insider now owns 134,706 shares in the company, valued at approximately $15,908,778.60. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SNX. Bank of America boosted their price objective on TD SYNNEX from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Cfra boosted their price objective on TD SYNNEX from $110.00 to $113.00 and gave the stock a “hold” rating in a research note on Tuesday, March 26th. Barrington Research boosted their price objective on TD SYNNEX from $122.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Royal Bank of Canada reissued a “sector perform” rating and set a $118.00 price objective (up previously from $110.00) on shares of TD SYNNEX in a research note on Wednesday, March 27th. Finally, UBS Group raised TD SYNNEX from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $115.00 to $145.00 in a research note on Tuesday, April 16th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, TD SYNNEX presently has an average rating of “Moderate Buy” and an average target price of $121.82.

Check Out Our Latest Analysis on SNX

TD SYNNEX Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for TD SYNNEX (NYSE:SNX)

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