Russell Investments Group Ltd. Trims Holdings in TD SYNNEX Co. (NYSE:SNX)

Russell Investments Group Ltd. trimmed its holdings in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 32.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,734 shares of the business services provider's stock after selling 16,351 shares during the quarter. Russell Investments Group Ltd.'s holdings in TD SYNNEX were worth $4,074,000 at the end of the most recent reporting period.

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

Insider Transactions at TD SYNNEX

In related news, Director Richard T. Hume sold 20,000 shares of the company's stock in a transaction on 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 sale, the director now directly owns 65,480 shares in the company, valued at $8,897,422.40. This represents a 23.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Marshall Witt sold 1,510 shares of the firm'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 transaction 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. This represents a 2.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,333 shares of company stock worth $3,886,690 in the last three months. Insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on SNX shares. StockNews.com downgraded TD SYNNEX from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. The Goldman Sachs Group reduced their target price on shares of TD SYNNEX from $154.00 to $137.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Barclays cut their price target on TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating for the company in a report on Friday, March 28th. JPMorgan Chase & Co. decreased their target price on shares of TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Finally, Barrington Research restated an "outperform" rating and set a $156.00 price target on shares of TD SYNNEX in a research note on Friday, April 11th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $137.22.

TD SYNNEX Stock Performance

SNX traded up $1.47 during midday trading on Friday, reaching $105.67. The company's stock had a trading volume of 1,050,677 shares, compared to its average volume of 750,724. The company has a fifty day simple moving average of $122.38 and a 200 day simple moving average of $123.89. TD SYNNEX Co. has a twelve month low of $92.23 and a twelve month high of $145.10. 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 stock has a market cap of $8.87 billion, a P/E ratio of 13.27, a PEG ratio of 1.06 and a beta of 1.36.

TD SYNNEX (NYSE:SNX - Get Free Report) last released 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 during the quarter, compared to analyst estimates of $14.79 billion. During the same quarter last year, the firm earned $2.99 earnings per share. TD SYNNEX's quarterly revenue was up 4.0% on a year-over-year basis. Research analysts expect that TD SYNNEX Co. will post 11.88 earnings per share for the current year.

TD SYNNEX Announces Dividend

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 paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.76 annualized dividend and a dividend yield of 1.67%. TD SYNNEX's dividend payout ratio is currently 21.97%.

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.