First Trust Advisors LP Has $69.88 Million Holdings in TD SYNNEX Co. (NYSE:SNX)

First Trust Advisors LP lowered its stake in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 6.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 595,799 shares of the business services provider's stock after selling 39,099 shares during the quarter. First Trust Advisors LP owned about 0.70% of TD SYNNEX worth $69,875,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Bartlett & CO. Wealth Management LLC increased its position in TD SYNNEX by 345.1% during 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. Bessemer Group Inc. grew its stake in shares of TD SYNNEX by 174.7% during the 4th quarter. Bessemer Group Inc. now owns 239 shares of the business services provider's stock valued at $28,000 after buying an additional 152 shares during the period. UMB Bank n.a. increased its holdings in shares of TD SYNNEX by 48.4% during the 4th quarter. UMB Bank n.a. now owns 429 shares of the business services provider's stock worth $50,000 after buying an additional 140 shares during the last quarter. Blue Trust Inc. raised its position in shares of TD SYNNEX by 37.7% in the 4th quarter. Blue Trust Inc. now owns 471 shares of the business services provider's stock worth $55,000 after buying an additional 129 shares during the period. Finally, Global Retirement Partners LLC boosted its holdings 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 valued at $56,000 after acquiring an additional 116 shares during the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Royal Bank of Canada dropped their price target on TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Barclays cut 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. Barrington Research reiterated an "outperform" rating and set a $156.00 price objective on shares of TD SYNNEX in a research note on Friday, April 11th. JPMorgan Chase & Co. decreased their price target on shares of TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Finally, The Goldman Sachs Group lowered their price target on TD SYNNEX from $154.00 to $137.00 and set a "buy" rating for the company in a report 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. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $137.22.

TD SYNNEX Stock Up 0.8 %

Shares of NYSE SNX traded up $0.85 during midday trading on Friday, reaching $111.21. 567,689 shares of the company's stock were exchanged, compared to its average volume of 750,130. The business's fifty day moving average price is $119.48 and its two-hundred day moving average price is $123.60. TD SYNNEX Co. has a 52-week low of $92.23 and a 52-week high of $145.10. The stock has a market capitalization of $9.33 billion, a PE ratio of 13.97, a price-to-earnings-growth 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 (NYSE:SNX - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $14.53 billion for the quarter, compared to the consensus estimate of $14.79 billion. TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The company's revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.99 earnings per share. Analysts forecast that TD SYNNEX Co. will post 11.88 EPS for the current year.

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.58%. The ex-dividend date is Friday, April 11th. TD SYNNEX's dividend payout ratio (DPR) is currently 21.97%.

Insider Activity

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the 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 completion of the sale, the director now owns 65,480 shares in the company, valued at $8,897,422.40. This represents a 23.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Marshall Witt sold 1,510 shares of the business's stock in a transaction 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 transaction, the chief financial officer now owns 49,843 shares in the company, valued at approximately $6,383,891.44. This represents a 2.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,333 shares of company stock worth $3,886,690 over the last quarter. Corporate insiders own 1.00% of the company's stock.

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.