TD SYNNEX Corporation (NYSE:SNX) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its stake in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) by 4.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 333,610 shares of the business services provider's stock after selling 13,841 shares during the period. Allspring Global Investments Holdings LLC owned about 0.40% of TD SYNNEX worth $34,645,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Arizona State Retirement System increased its stake in TD SYNNEX by 0.4% in the 4th quarter. Arizona State Retirement System now owns 22,225 shares of the business services provider's stock valued at $2,607,000 after buying an additional 78 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in TD SYNNEX by 9.2% during the 4th quarter. Quadrant Capital Group LLC now owns 1,068 shares of the business services provider's stock worth $125,000 after purchasing an additional 90 shares in the last quarter. Ellevest Inc. lifted its stake in TD SYNNEX by 3.9% in the 4th quarter. Ellevest Inc. now owns 2,384 shares of the business services provider's stock worth $280,000 after purchasing an additional 90 shares in the last quarter. Utah Retirement Systems boosted its stake in TD SYNNEX by 2.5% during the fourth quarter. Utah Retirement Systems now owns 4,100 shares of the business services provider's stock valued at $481,000 after buying an additional 100 shares during the period. Finally, Amundi boosted its position in shares of TD SYNNEX by 22.3% during the 4th quarter. Amundi now owns 560 shares of the business services provider's stock valued at $66,000 after acquiring an additional 102 shares during the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other TD SYNNEX news, CFO Marshall Witt sold 1,509 shares of TD SYNNEX stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $125.35, for a total transaction of $189,153.15. Following the transaction, the chief financial officer directly owned 49,563 shares of the company's stock, valued at $6,212,722.05. The trade was a 2.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Miriam Anne Murphy sold 3,000 shares of the firm's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $110.00, for a total value of $330,000.00. Following the sale, the insider directly owned 14,883 shares of the company's stock, valued at approximately $1,637,130. This trade represents a 16.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,819 shares of company stock worth $9,143,874 over the last three months. Insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SNX. Barclays set a $140.00 target price on TD SYNNEX in a research note on Tuesday, June 24th. UBS Group lowered their price objective on TD SYNNEX from $150.00 to $138.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Morgan Stanley set a $155.00 price target on TD SYNNEX and gave the stock an "overweight" rating in a research note on Wednesday, June 25th. Cfra dropped their target price on shares of TD SYNNEX from $147.00 to $132.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Finally, Barrington Research reissued an "outperform" rating and issued a $156.00 target price on shares of TD SYNNEX in a research report on Monday, June 23rd. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $142.56.

TD SYNNEX Stock Performance

Shares of SNX traded up $0.93 during trading hours on Friday, hitting $140.21. The stock had a trading volume of 680,142 shares, compared to its average volume of 745,780. The firm has a 50-day moving average price of $124.32 and a 200 day moving average price of $124.90. TD SYNNEX Corporation has a fifty-two week low of $92.23 and a fifty-two week high of $145.10. The firm has a market capitalization of $11.56 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 1.16 and a beta of 1.30. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.75 and a current ratio of 1.26.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted its earnings results on Tuesday, June 24th. The business services provider reported $2.99 EPS for the quarter, beating analysts' consensus estimates of $2.71 by $0.28. The firm had revenue of $14.95 billion for the quarter, compared to analysts' expectations of $14.30 billion. TD SYNNEX had a return on equity of 11.58% and a net margin of 1.21%. The company's quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the firm earned $2.73 EPS. As a group, research analysts anticipate that TD SYNNEX Corporation will post 11.88 EPS for the current year.

TD SYNNEX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, July 11th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Friday, July 11th. TD SYNNEX's payout ratio is 20.56%.

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.