TD SYNNEX Co. (NYSE:SNX) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. reduced its holdings in shares of TD SYNNEX Co. (NYSE:SNX) by 3.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 106,822 shares of the business services provider’s stock after selling 3,306 shares during the period. Ameriprise Financial Inc. owned about 0.13% of TD SYNNEX worth $12,528,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of TD SYNNEX by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 7,685,224 shares of the business services provider’s stock worth $901,323,000 after acquiring an additional 29,659 shares during the period. FMR LLC grew its stake in TD SYNNEX by 3.2% during the 4th quarter. FMR LLC now owns 7,663,179 shares of the business services provider’s stock worth $898,738,000 after purchasing an additional 237,587 shares in the last quarter. JPMorgan Chase & Co. grew its stake in TD SYNNEX by 10.7% during the 4th quarter. JPMorgan Chase & Co. now owns 3,335,501 shares of the business services provider’s stock worth $391,188,000 after purchasing an additional 323,282 shares in the last quarter. Ninety One UK Ltd increased its holdings in TD SYNNEX by 75.4% during the 4th quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock worth $277,316,000 after purchasing an additional 1,016,251 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in TD SYNNEX by 1.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,266,614 shares of the business services provider’s stock valued at $265,826,000 after purchasing an additional 31,404 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at TD SYNNEX

In related news, insider Miriam Anne Murphy sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $110.00, for a total transaction of $330,000.00. Following the transaction, the insider now owns 14,883 shares of the company’s stock, valued at $1,637,130. This trade represents a 16.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard T. Hume sold 20,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $135.88, for a total value of $2,717,600.00. Following the completion of the transaction, the director now owns 65,480 shares in the company, valued at $8,897,422.40. This trade represents a 23.40% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,510 shares of company stock worth $3,241,001. Insiders own 1.00% of the company’s stock.

TD SYNNEX Trading Up 1.0%

Shares of TD SYNNEX stock opened at $125.14 on Monday. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. The company has a fifty day simple moving average of $113.32 and a 200-day simple moving average of $123.28. The stock has a market cap of $10.50 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 1.06 and a beta of 1.33. TD SYNNEX Co. has a 12-month low of $92.23 and a 12-month high of $145.10.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings data on Thursday, March 27th. The business services provider reported $2.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.87 by ($0.07). TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The company had revenue of $14.53 billion during the quarter, compared to analyst estimates of $14.79 billion. During the same quarter in the prior year, the company earned $2.99 EPS. The business’s revenue was up 4.0% on a year-over-year basis. On average, equities analysts forecast that TD SYNNEX Co. will post 11.88 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 11th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.41%. TD SYNNEX’s dividend payout ratio (DPR) is presently 21.97%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SNX shares. Barclays lowered their price objective on TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating for the company in a research report on Friday, March 28th. UBS Group lowered their price target on shares of TD SYNNEX from $150.00 to $138.00 and set a “buy” rating for the company in a report on Friday, March 28th. Cfra dropped their price objective on shares of TD SYNNEX from $147.00 to $132.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Barrington Research reaffirmed an “outperform” rating and set a $156.00 price objective on shares of TD SYNNEX in a research report on Friday, April 11th. Finally, Royal Bank of Canada lowered their target price on shares of TD SYNNEX from $165.00 to $145.00 and set an “outperform” rating for the company in a research note on Friday, April 11th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, TD SYNNEX presently has an average rating of “Moderate Buy” and an average target price of $137.22.

About TD SYNNEX

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.