Federated Hermes Inc. Has $32.63 Million Stock Position in TD SYNNEX Co. (NYSE:SNX)

Federated Hermes Inc. cut its holdings in TD SYNNEX Co. (NYSE:SNX - Free Report) by 11.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 278,188 shares of the business services provider's stock after selling 35,977 shares during the period. Federated Hermes Inc. owned approximately 0.33% of TD SYNNEX worth $32,626,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of SNX. Aster Capital Management DIFC Ltd bought a new position in shares of TD SYNNEX during the fourth quarter worth approximately $934,000. Lyrical Asset Management LP grew its position in TD SYNNEX by 3.6% during the fourth quarter. Lyrical Asset Management LP now owns 1,288,363 shares of the business services provider's stock worth $151,099,000 after buying an additional 44,309 shares in the last quarter. Quadrant Capital Group LLC increased its stake in TD SYNNEX by 9.2% during the 4th quarter. Quadrant Capital Group LLC now owns 1,068 shares of the business services provider's stock worth $125,000 after acquiring an additional 90 shares during the period. Envestnet Asset Management Inc. raised its holdings in TD SYNNEX by 15.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 55,498 shares of the business services provider's stock valued at $6,508,000 after acquiring an additional 7,410 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC bought a new stake in shares of TD SYNNEX during the 4th quarter valued at $1,321,000. Institutional investors and hedge funds own 84.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SNX shares. The Goldman Sachs Group dropped their price target on TD SYNNEX from $154.00 to $137.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Royal Bank of Canada reduced their price target on shares of TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating on the stock in a research report on Friday. Barrington Research restated an "outperform" rating and set a $156.00 price objective on shares of TD SYNNEX in a research report on Friday, March 28th. JPMorgan Chase & Co. cut their target price on TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating for the company in a research note on Friday. Finally, Cfra decreased their price target on TD SYNNEX from $147.00 to $132.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $137.22.

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TD SYNNEX Price Performance

Shares of NYSE SNX traded down $0.02 during mid-day trading on Friday, hitting $101.83. 1,696,937 shares of the stock traded hands, compared to its average volume of 750,804. The company has a market cap of $8.55 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 1.06 and a beta of 1.36. TD SYNNEX Co. has a twelve month low of $92.23 and a twelve month high of $145.10. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. The firm has a 50 day simple moving average of $126.24 and a two-hundred day simple moving average of $124.46.

TD SYNNEX (NYSE:SNX - Get Free Report) last announced its quarterly earnings results on Thursday, March 27th. The business services provider reported $2.80 EPS for the quarter, missing analysts' consensus estimates of $2.87 by ($0.07). TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The firm had revenue of $14.53 billion for the quarter, compared to analyst estimates of $14.79 billion. During the same period in the previous year, the business posted $2.99 earnings per share. The business's revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, equities research analysts forecast that TD SYNNEX Co. will post 11.88 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be issued a dividend of $0.44 per share. The ex-dividend date is Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.73%. TD SYNNEX's dividend payout ratio (DPR) is presently 21.97%.

Insider Buying and Selling

In other news, Director Ann F. Vezina sold 839 shares of the firm's stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $136.08, for a total transaction of $114,171.12. Following the completion of the transaction, the director now directly owns 4,856 shares in the company, valued at $660,804.48. This trade represents a 14.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Marshall Witt sold 1,510 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total value of $193,400.80. Following the completion of the sale, the chief financial officer now owns 49,843 shares in the company, valued at $6,383,891.44. The trade was a 2.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,172 shares of company stock valued at $4,000,861 over the last 90 days. 1.00% of the stock is owned by insiders.

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.