Franklin Resources Inc. Sells 74,480 Shares of TD SYNNEX Co. (NYSE:SNX)

Franklin Resources Inc. reduced its position in TD SYNNEX Co. (NYSE:SNX - Free Report) by 58.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,469 shares of the business services provider's stock after selling 74,480 shares during the period. Franklin Resources Inc. owned about 0.06% of TD SYNNEX worth $6,154,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SNX. Bartlett & CO. Wealth Management LLC raised its holdings in TD SYNNEX by 345.1% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider's stock worth $27,000 after acquiring an additional 176 shares during the period. UMB Bank n.a. increased its position in shares of TD SYNNEX by 48.4% during the fourth quarter. UMB Bank n.a. now owns 429 shares of the business services provider's stock valued at $50,000 after purchasing an additional 140 shares during the period. Blue Trust Inc. raised its stake in shares of TD SYNNEX by 37.7% in the fourth quarter. Blue Trust Inc. now owns 471 shares of the business services provider's stock valued at $55,000 after purchasing an additional 129 shares in the last quarter. Global Retirement Partners LLC lifted its position in TD SYNNEX by 31.9% in the fourth quarter. Global Retirement Partners LLC now owns 480 shares of the business services provider's stock worth $56,000 after purchasing an additional 116 shares during the period. Finally, Jones Financial Companies Lllp boosted its stake in TD SYNNEX by 196.5% during the fourth quarter. Jones Financial Companies Lllp now owns 507 shares of the business services provider's stock worth $59,000 after buying an additional 336 shares in the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Wall Street Analysts Forecast Growth

SNX has been the subject of a number of recent research reports. The Goldman Sachs Group dropped their price objective on shares of 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 lowered their price target on TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating on the stock in a research report on Friday. StockNews.com cut TD SYNNEX from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Barrington Research reiterated an "outperform" rating and set a $156.00 target price on shares of TD SYNNEX in a research report on Friday, March 28th. Finally, UBS Group cut their target price on shares of TD SYNNEX from $150.00 to $138.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $137.22.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $135.88, for a total transaction of $2,717,600.00. Following the completion of the transaction, the director now owns 65,480 shares in the company, valued at approximately $8,897,422.40. This represents a 23.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ann F. Vezina sold 839 shares of TD SYNNEX stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $136.08, for a total value of $114,171.12. Following the completion of the sale, the director now directly owns 4,856 shares in the company, valued at approximately $660,804.48. This represents a 14.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,172 shares of company stock worth $4,000,861 in the last ninety days. Company insiders own 1.00% of the company's stock.

TD SYNNEX Trading Up 0.5 %

NYSE:SNX traded up $0.53 on Tuesday, hitting $103.59. 139,380 shares of the stock were exchanged, compared to its average volume of 749,583. The stock has a market capitalization of $8.69 billion, a price-to-earnings ratio of 13.01, a P/E/G ratio of 1.06 and a beta of 1.36. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. TD SYNNEX Co. has a 52 week low of $92.23 and a 52 week high of $145.10. The company's 50-day moving average price is $125.45 and its 200 day moving average price is $124.34.

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

TD SYNNEX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.70%. TD SYNNEX's dividend payout ratio (DPR) is presently 21.97%.

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.