Bank of America Corp DE cut its holdings in TD SYNNEX Co. (NYSE:SNX - Free Report) by 49.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 181,655 shares of the business services provider's stock after selling 175,158 shares during the quarter. Bank of America Corp DE owned about 0.21% of TD SYNNEX worth $21,304,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of TD SYNNEX in the 4th quarter valued at about $121,199,000. Ninety One UK Ltd grew its stake in shares of TD SYNNEX by 75.4% in the 4th 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 in the last quarter. JPMorgan Chase & Co. grew its stake in shares of TD SYNNEX by 37.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider's stock valued at $361,707,000 after buying an additional 813,634 shares in the last quarter. LSV Asset Management grew its stake in shares of TD SYNNEX by 46.9% in the 4th quarter. LSV Asset Management now owns 1,715,847 shares of the business services provider's stock valued at $201,235,000 after buying an additional 547,692 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of TD SYNNEX in the 4th quarter valued at approximately $47,094,000. 84.00% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
SNX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their target price on TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Barclays reduced their price objective on TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating for the company in a research report on Friday, March 28th. Cfra reduced their price objective on TD SYNNEX from $147.00 to $132.00 and set a "buy" rating for the company in a research report on Friday, March 28th. The Goldman Sachs Group reduced their price objective on TD SYNNEX from $154.00 to $137.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Finally, Barrington Research reissued an "outperform" rating and issued a $156.00 price objective on shares of TD SYNNEX in a research report on Friday, April 11th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $137.22.
Get Our Latest Stock Analysis on TD SYNNEX
Insider Activity
In related news, insider Miriam Anne Murphy sold 3,000 shares of TD SYNNEX stock in a transaction that occurred 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 now owns 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Marshall Witt sold 1,510 shares of the business's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total value of $193,400.80. Following the completion of the sale, the chief financial officer now owns 49,843 shares of the company's stock, valued at $6,383,891.44. This trade represents a 2.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,510 shares of company stock worth $3,241,001 in the last 90 days. Corporate insiders own 1.00% of the company's stock.
TD SYNNEX Price Performance
TD SYNNEX stock traded down $0.78 during mid-day trading on Friday, hitting $121.53. 398,895 shares of the company were exchanged, compared to its average volume of 741,075. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. The business has a fifty day moving average of $112.83 and a 200 day moving average of $123.39. TD SYNNEX Co. has a 1-year low of $92.23 and a 1-year high of $145.10. The company has a market capitalization of $10.20 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 1.06 and a beta of 1.33.
TD SYNNEX (NYSE:SNX - Get Free Report) last released its quarterly earnings data 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 return on equity of 11.91% and a net margin of 1.18%. The company had revenue of $14.53 billion for the quarter, compared to analyst estimates of $14.79 billion. During the same quarter in the prior year, the company earned $2.99 earnings per share. The business's revenue was up 4.0% compared to the same quarter last year. As a group, sell-side analysts expect that TD SYNNEX Co. will post 11.88 earnings per share for the current year.
TD SYNNEX Dividend Announcement
The firm also recently disclosed 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 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Friday, April 11th. TD SYNNEX's dividend payout ratio (DPR) is presently 21.97%.
About TD SYNNEX
(
Free Report)
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.
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