Prudential Financial Inc. reduced its position in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 90.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,191 shares of the business services provider's stock after selling 367,836 shares during the quarter. Prudential Financial Inc.'s holdings in TD SYNNEX were worth $4,596,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of TD SYNNEX by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 7,685,224 shares of the business services provider's stock valued at $901,323,000 after purchasing an additional 29,659 shares during the period. JPMorgan Chase & Co. increased its position in TD SYNNEX by 37.0% during the third quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider's stock worth $361,707,000 after buying an additional 813,634 shares during the last quarter. Ninety One UK Ltd lifted its position in shares of TD SYNNEX by 75.4% in the fourth quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider's stock valued at $277,316,000 after buying an additional 1,016,251 shares during the last quarter. State Street Corp lifted its position in shares of TD SYNNEX by 0.7% in the third quarter. State Street Corp now owns 2,189,732 shares of the business services provider's stock valued at $262,943,000 after buying an additional 15,995 shares during the last quarter. Finally, River Road Asset Management LLC boosted its stake in shares of TD SYNNEX by 0.5% during the 4th quarter. River Road Asset Management LLC now owns 869,367 shares of the business services provider's stock worth $101,959,000 after acquiring an additional 4,220 shares during the period. Institutional investors and hedge funds own 84.00% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts have issued reports on the company. Barrington Research reaffirmed an "outperform" rating and set a $156.00 price target on shares of TD SYNNEX in a report on Friday, March 28th. The Goldman Sachs Group cut their target price 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. StockNews.com lowered shares of TD SYNNEX from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. JPMorgan Chase & Co. cut their price objective on shares of TD SYNNEX from $150.00 to $125.00 and set a "neutral" rating for the company in a research report on Friday, March 28th. Finally, Royal Bank of Canada upped their target price on TD SYNNEX from $140.00 to $165.00 and gave the company an "outperform" rating in a research report on Friday, February 21st. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $140.00.
Read Our Latest Analysis on SNX
Insider Activity at TD SYNNEX
In other news, Director Richard T. Hume sold 20,000 shares of the firm's stock in a transaction that occurred on 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 sale, the director now directly owns 65,480 shares in the company, valued at approximately $8,897,422.40. This trade represents a 23.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Patrick Zammit sold 6,823 shares of the company's stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $143.00, for a total transaction of $975,689.00. Following the transaction, the chief executive officer now owns 165,604 shares of the company's stock, valued at approximately $23,681,372. This represents a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,172 shares of company stock valued at $4,000,861 over the last ninety days. 1.00% of the stock is owned by corporate insiders.
TD SYNNEX Price Performance
Shares of SNX traded down $3.73 during trading hours on Friday, hitting $95.75. 2,372,884 shares of the company were exchanged, compared to its average volume of 734,038. The company has a market cap of $8.08 billion, a price-to-earnings ratio of 12.03, a P/E/G ratio of 1.06 and a beta of 1.51. The firm's fifty day moving average is $131.78 and its 200 day moving average is $125.26. TD SYNNEX Co. has a fifty-two week low of $94.46 and a fifty-two week high of $145.10. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46.
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 (EPS) for the quarter, missing analysts' consensus estimates of $2.87 by ($0.07). TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The firm had revenue of $14.53 billion for the quarter, compared to analyst estimates of $14.79 billion. During the same quarter in the previous year, the company earned $2.99 earnings per share. The company's quarterly revenue was up 4.0% on a year-over-year basis. On average, equities analysts anticipate that TD SYNNEX Co. will post 11.88 earnings per share for the current fiscal year.
TD SYNNEX Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.84%. The ex-dividend date is Friday, April 11th. TD SYNNEX's dividend payout ratio (DPR) is presently 21.97%.
About TD SYNNEX
(
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.
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