Legal & General Group Plc Lowers Stake in TD SYNNEX Co. (NYSE:SNX)

Legal & General Group Plc lowered its stake in TD SYNNEX Co. (NYSE:SNX - Free Report) by 5.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 181,594 shares of the business services provider's stock after selling 10,567 shares during the quarter. Legal & General Group Plc owned 0.21% of TD SYNNEX worth $21,297,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Bartlett & CO. Wealth Management LLC grew its holdings 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 worth $27,000 after acquiring an additional 176 shares during the period. UMB Bank n.a. boosted its holdings 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 buying an additional 140 shares during the last quarter. Blue Trust Inc. grew its position in TD SYNNEX by 37.7% during the fourth quarter. Blue Trust Inc. now owns 471 shares of the business services provider's stock valued at $55,000 after buying an additional 129 shares during the period. Global Retirement Partners LLC increased its holdings 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 valued at $56,000 after buying an additional 116 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in shares of 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 acquiring an additional 336 shares during the last quarter. Institutional investors own 84.00% of the company's stock.

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TD SYNNEX Trading Up 0.2 %

Shares of TD SYNNEX stock traded up $0.21 during trading on Tuesday, hitting $103.27. The stock had a trading volume of 1,104,167 shares, compared to its average volume of 753,399. The stock has a market cap of $8.67 billion, a PE ratio of 12.97, a PEG ratio of 1.06 and a beta of 1.36. TD SYNNEX Co. has a 12 month low of $92.23 and a 12 month high of $145.10. The firm's fifty day simple moving average is $124.65 and its 200-day simple moving average is $124.20. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76.

TD SYNNEX (NYSE:SNX - Get Free Report) last announced its earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $14.79 billion. During the same quarter last year, the firm earned $2.99 EPS. The firm's quarterly revenue was up 4.0% on a year-over-year basis. As a group, sell-side analysts expect that TD SYNNEX Co. will post 11.88 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Friday, April 11th. TD SYNNEX's payout ratio is presently 21.97%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SNX shares. Barclays decreased their target price on TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating on the stock in a report on Friday, March 28th. UBS Group cut their price target on TD SYNNEX from $150.00 to $138.00 and set a "buy" rating for the company in a research note 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, March 28th. The Goldman Sachs Group dropped 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. Finally, Cfra decreased their price objective on TD SYNNEX from $147.00 to $132.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $137.22.

Insider Buying and Selling

In other TD SYNNEX news, CFO Marshall Witt sold 1,510 shares of the firm's stock in a transaction 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 transaction, the chief financial officer now directly owns 49,843 shares in the company, valued at $6,383,891.44. This trade represents a 2.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction 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 sale, the director now directly owns 65,480 shares of the company's stock, valued at approximately $8,897,422.40. This trade represents a 23.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,172 shares of company stock valued at $4,000,861 in the last 90 days. Company 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.