Comerica Bank Raises Position in TD SYNNEX Co. (NYSE:SNX)

Comerica Bank grew its holdings in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 6.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 44,728 shares of the business services provider's stock after acquiring an additional 2,828 shares during the quarter. Comerica Bank owned 0.05% of TD SYNNEX worth $5,246,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Bartlett & CO. Wealth Management LLC raised its stake in shares of 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 acquiring an additional 176 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of TD SYNNEX by 174.7% in the fourth quarter. Bessemer Group Inc. now owns 239 shares of the business services provider's stock worth $28,000 after purchasing an additional 152 shares during the last quarter. UMB Bank n.a. grew 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 purchasing an additional 140 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of TD SYNNEX by 37.7% in the fourth quarter. Blue Trust Inc. now owns 471 shares of the business services provider's stock worth $55,000 after purchasing an additional 129 shares during the last quarter. Finally, Global Retirement Partners LLC grew its holdings 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 worth $56,000 after purchasing an additional 116 shares during the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

TD SYNNEX Trading Down 0.1%

NYSE:SNX traded down $0.16 during trading hours on Friday, hitting $118.25. The company had a trading volume of 442,027 shares, compared to its average volume of 747,003. The company has a market capitalization of $9.92 billion, a PE ratio of 14.86, a price-to-earnings-growth ratio of 1.06 and a beta of 1.33. The stock has a 50-day moving average price of $113.79 and a 200 day moving average price of $123.12. TD SYNNEX Co. has a 52 week low of $92.23 and a 52 week high of $145.10. 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 EPS 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 for the quarter, compared to the consensus estimate of $14.79 billion. During the same quarter last year, the firm posted $2.99 EPS. The business's quarterly revenue was up 4.0% on a year-over-year basis. On average, equities research analysts predict that TD SYNNEX Co. will post 11.88 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 11th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend was Friday, April 11th. TD SYNNEX's dividend payout ratio (DPR) is presently 21.97%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Cfra cut their target price on shares of TD SYNNEX from $147.00 to $132.00 and set a "buy" rating on the stock in a report on Friday, March 28th. UBS Group cut their target price 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. The Goldman Sachs Group cut their target price on shares of TD SYNNEX from $154.00 to $137.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Barclays cut 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, March 28th. Finally, JPMorgan Chase & Co. cut their price target on shares of TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $137.22.

Insider Activity

In related news, Director Richard T. Hume sold 20,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $135.88, for a total transaction 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 represents a 23.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Miriam Anne Murphy sold 3,000 shares of TD SYNNEX stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $110.00, for a total transaction of $330,000.00. Following the completion of the transaction, the insider now directly owns 14,883 shares of the company's stock, valued at $1,637,130. This trade represents a 16.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,510 shares of company stock worth $3,241,001. Corporate 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.