Sterling Capital Management LLC lessened its position in TD SYNNEX Co. (NYSE:SNX - Free Report) by 50.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,387 shares of the business services provider's stock after selling 7,540 shares during the period. Sterling Capital Management LLC's holdings in TD SYNNEX were worth $866,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in TD SYNNEX during the fourth quarter valued at approximately $121,199,000. Ninety One UK Ltd raised its stake 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 valued at $277,316,000 after buying an additional 1,016,251 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of TD SYNNEX by 37.0% in the 3rd 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. LSV Asset Management grew its holdings in shares of TD SYNNEX by 46.9% in the fourth quarter. LSV Asset Management now owns 1,715,847 shares of the business services provider's stock worth $201,235,000 after acquiring an additional 547,692 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in TD SYNNEX during the fourth quarter valued at $47,094,000. Hedge funds and other institutional investors own 84.00% of the company's stock.
Insiders Place Their Bets
In related news, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $135.88, for a total transaction of $2,717,600.00. Following the transaction, the director now directly owns 65,480 shares of the company's stock, valued at $8,897,422.40. This trade represents a 23.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Marshall Witt sold 1,510 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $128.08, for a total transaction of $193,400.80. Following the completion of the transaction, the chief financial officer now directly owns 49,843 shares of the company's stock, valued at $6,383,891.44. This trade represents a 2.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,333 shares of company stock worth $3,886,690 in the last ninety days. 1.00% of the stock is owned by company insiders.
TD SYNNEX Price Performance
SNX stock traded up $1.47 during mid-day trading on Friday, hitting $105.67. The company had a trading volume of 1,050,677 shares, compared to its average volume of 750,421. The company has a market capitalization of $8.87 billion, a price-to-earnings ratio of 13.27, a P/E/G ratio of 1.06 and a beta of 1.36. The company has a 50-day moving average price of $122.38 and a 200 day moving average price of $123.94. 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 Co. has a 12-month low of $92.23 and a 12-month high of $145.10.
TD SYNNEX (NYSE:SNX - Get Free Report) last released its quarterly earnings results 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). The business had revenue of $14.53 billion for the quarter, compared to analysts' expectations of $14.79 billion. TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. TD SYNNEX's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.99 EPS. On average, research analysts anticipate that TD SYNNEX Co. will post 11.88 earnings per share for the current year.
TD SYNNEX Dividend Announcement
The company 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. The ex-dividend date is Friday, April 11th. This represents a $1.76 annualized dividend and a yield of 1.67%. TD SYNNEX's dividend payout ratio (DPR) is currently 21.97%.
Analyst Upgrades and Downgrades
SNX has been the subject of a number of recent research reports. The Goldman Sachs Group cut 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 decreased their target price on TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Barclays lowered their price objective on TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating on the stock in a research report on Friday, March 28th. Barrington Research reissued an "outperform" rating and issued a $156.00 target price on shares of TD SYNNEX in a report on Friday, April 11th. Finally, UBS Group lowered their price target on shares of TD SYNNEX from $150.00 to $138.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $137.22.
Read Our Latest Stock Analysis on TD SYNNEX
TD SYNNEX Company Profile
(
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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