Kennedy Capital Management LLC Sells 21,718 Shares of TD SYNNEX Co. (NYSE:SNX)

Kennedy Capital Management LLC trimmed its stake in TD SYNNEX Co. (NYSE:SNX - Free Report) by 13.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 144,021 shares of the business services provider's stock after selling 21,718 shares during the quarter. Kennedy Capital Management LLC owned 0.17% of TD SYNNEX worth $16,891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of SNX. Norges Bank bought a new stake in shares of TD SYNNEX during the 4th quarter worth about $121,199,000. Ninety One UK Ltd lifted its stake in shares of TD SYNNEX by 75.4% in the fourth 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 period. JPMorgan Chase & Co. increased its stake in TD SYNNEX by 37.0% during the third quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider's stock valued at $361,707,000 after acquiring an additional 813,634 shares during the period. LSV Asset Management boosted its stake in TD SYNNEX by 46.9% during the fourth quarter. LSV Asset Management now owns 1,715,847 shares of the business services provider's stock worth $201,235,000 after buying an additional 547,692 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in TD SYNNEX in the fourth quarter worth about $47,094,000. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $135.88, for a total transaction of $2,717,600.00. Following the completion of the transaction, the director now owns 65,480 shares in the company, valued at approximately $8,897,422.40. The trade was a 23.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,172 shares of company stock valued at $4,000,861 over the last three months. 1.00% of the stock is currently owned by insiders.

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TD SYNNEX Trading Up 0.2 %

SNX stock traded up $0.19 during mid-day trading on Tuesday, reaching $103.25. The company's stock had a trading volume of 339,780 shares, compared to its average volume of 750,399. The company has a market cap of $8.66 billion, a price-to-earnings ratio of 12.97, a price-to-earnings-growth 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 company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. The business's 50 day moving average price is $125.45 and its 200 day moving average price is $124.34.

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). The firm had revenue of $14.53 billion for the quarter, compared to analyst estimates of $14.79 billion. TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. 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 earnings per share. On average, equities research analysts predict 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 $0.44 dividend. The ex-dividend date is Friday, April 11th. This represents a $1.76 annualized dividend and a dividend yield of 1.70%. TD SYNNEX's payout ratio is presently 21.97%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SNX shares. JPMorgan Chase & Co. cut their price target on TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating for the company in a report on Friday. Barclays lowered their target price on shares of TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating for the company in a report on Friday, March 28th. The Goldman Sachs Group cut their price target on shares of TD SYNNEX from $154.00 to $137.00 and set a "buy" 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 research note on Friday, March 28th. Finally, Royal Bank of Canada lowered their price objective on shares of TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating for the company in a research report on Friday. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $137.22.

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.