TD SYNNEX Co. (NYSE:SNX) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its stake in TD SYNNEX Co. (NYSE:SNX - Free Report) by 15.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,498 shares of the business services provider's stock after acquiring an additional 7,410 shares during the quarter. Envestnet Asset Management Inc. owned about 0.07% of TD SYNNEX worth $6,508,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in SNX. Grantham Mayo Van Otterloo & Co. LLC acquired a new position in TD SYNNEX in the 4th quarter valued at $1,321,000. Wells Fargo & Company MN grew its position in shares of TD SYNNEX by 87.8% in the fourth quarter. Wells Fargo & Company MN now owns 251,382 shares of the business services provider's stock valued at $29,482,000 after purchasing an additional 117,546 shares during the period. Atlas Capital Advisors Inc. increased its stake in TD SYNNEX by 3.6% in the fourth quarter. Atlas Capital Advisors Inc. now owns 3,724 shares of the business services provider's stock valued at $437,000 after purchasing an additional 130 shares during the last quarter. Uniting Wealth Partners LLC purchased a new position in TD SYNNEX during the fourth quarter worth about $412,000. Finally, ExodusPoint Capital Management LP boosted its stake in TD SYNNEX by 155.6% in the 4th quarter. ExodusPoint Capital Management LP now owns 44,812 shares of the business services provider's stock worth $5,256,000 after buying an additional 27,282 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. UBS Group cut their price objective 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. Royal Bank of Canada cut 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 note on Friday, April 11th. Barclays decreased their price target on shares of TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating on the stock in a report on Friday, March 28th. JPMorgan Chase & Co. dropped their price objective on TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Finally, Cfra cut their target price on TD SYNNEX from $147.00 to $132.00 and set a "buy" rating on the stock in a research report 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. Based on data from MarketBeat, TD SYNNEX presently has an average rating of "Moderate Buy" and an average target price of $137.22.

Insider Activity

In related news, CEO Patrick Zammit sold 6,823 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $143.00, for a total value of $975,689.00. Following the completion of 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Marshall Witt sold 1,510 shares of the 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 transaction, the chief financial officer now owns 49,843 shares of the company's stock, valued at approximately $6,383,891.44. This trade represents a 2.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,333 shares of company stock worth $3,886,690. 1.00% of the stock is currently owned by company insiders.

TD SYNNEX Stock Up 1.6 %

TD SYNNEX stock traded up $1.71 during trading on Wednesday, reaching $107.48. 838,974 shares of the company's stock were exchanged, compared to its average volume of 751,779. TD SYNNEX Co. has a 52-week low of $92.23 and a 52-week high of $145.10. The firm has a market cap of $9.02 billion, a price-to-earnings ratio of 13.50, a PEG 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. The company's 50-day moving average is $120.89 and its two-hundred day moving average is $123.77.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its earnings results 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 company had revenue of $14.53 billion during the quarter, compared to analysts' expectations of $14.79 billion. TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. TD SYNNEX's quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.99 EPS. On average, analysts predict that TD SYNNEX Co. will post 11.88 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be given a dividend of $0.44 per share. 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 1.64%. TD SYNNEX's 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.