Corebridge Financial Inc. Has $10.05 Million Stock Position in TD SYNNEX Co. (NYSE:SNX)

Corebridge Financial Inc. reduced its position in TD SYNNEX Co. (NYSE:SNX - Free Report) by 4.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 85,686 shares of the business services provider's stock after selling 4,252 shares during the period. Corebridge Financial Inc. owned about 0.10% of TD SYNNEX worth $10,049,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bartlett & CO. Wealth Management LLC raised its position in shares of 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 valued at $27,000 after purchasing an additional 176 shares during the period. UMB Bank n.a. raised its holdings in TD SYNNEX by 48.4% in the 4th quarter. UMB Bank n.a. now owns 429 shares of the business services provider's stock valued at $50,000 after acquiring an additional 140 shares during the period. Point72 DIFC Ltd acquired a new stake in TD SYNNEX during the third quarter worth approximately $55,000. Blue Trust Inc. boosted its holdings in shares of 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 acquiring an additional 129 shares during the period. Finally, Global Retirement Partners LLC grew its position in shares of 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 purchasing an additional 116 shares during the last quarter. Institutional investors own 84.00% of the company's stock.

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Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Royal Bank of Canada boosted their price target on TD SYNNEX from $140.00 to $165.00 and gave the company an "outperform" rating in a research note on Friday, February 21st. Barrington Research reissued an "outperform" rating and issued a $156.00 target price on shares of TD SYNNEX in a research report on Friday. Cfra lowered their price target on shares of TD SYNNEX from $147.00 to $132.00 and set a "buy" rating on the stock in a research report on Friday. UBS Group cut their price objective on shares of TD SYNNEX from $150.00 to $138.00 and set a "buy" rating for the company in a report on Friday. Finally, Barclays lowered their target price 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. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $140.00.

TD SYNNEX Price Performance

Shares of NYSE SNX traded down $3.09 during trading hours on Friday, hitting $104.45. 2,582,715 shares of the stock were exchanged, compared to its average volume of 757,467. The company's fifty day simple moving average is $135.67 and its two-hundred day simple moving average is $125.53. The company has a market cap of $8.81 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51. 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 Co. has a 1-year low of $98.00 and a 1-year high of $145.10.

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 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 business had revenue of $14.53 billion during the quarter, compared to analyst estimates of $14.79 billion. During the same period in the prior year, the business posted $2.99 EPS. The company's revenue for the quarter was up 4.0% compared to the same quarter last year. On average, sell-side analysts predict that TD SYNNEX Co. will post 11.88 EPS for the current year.

TD SYNNEX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Friday, April 11th. TD SYNNEX's dividend payout ratio is 22.11%.

Insider Activity at TD SYNNEX

In other TD SYNNEX 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 directly owns 165,604 shares in the company, valued at approximately $23,681,372. This trade represents a 3.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard T. Hume sold 20,000 shares of the business's stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $117.62, for a total value of $2,352,400.00. Following the sale, the director now owns 111,080 shares in the company, valued at approximately $13,065,229.60. This trade represents a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,172 shares of company stock valued at $6,353,261 in the last quarter. Insiders own 1.00% of the company's stock.

TD SYNNEX Company Profile

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.