Bank of New York Mellon Corp Acquires 22,836 Shares of TD SYNNEX Corporation (NYSE:SNX)

Bank of New York Mellon Corp lifted its position in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 3.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 705,454 shares of the business services provider's stock after acquiring an additional 22,836 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.84% of TD SYNNEX worth $73,339,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. grew its position in TD SYNNEX by 174.7% during the fourth quarter. Bessemer Group Inc. now owns 239 shares of the business services provider's stock valued at $28,000 after buying an additional 152 shares during the period. Versant Capital Management Inc grew its position in TD SYNNEX by 115.1% during the first quarter. Versant Capital Management Inc now owns 342 shares of the business services provider's stock valued at $36,000 after buying an additional 183 shares during the period. Jones Financial Companies Lllp grew its position in TD SYNNEX by 196.5% during the fourth quarter. Jones Financial Companies Lllp now owns 507 shares of the business services provider's stock valued at $59,000 after buying an additional 336 shares during the period. Amundi lifted its holdings in TD SYNNEX by 22.3% during the fourth quarter. Amundi now owns 560 shares of the business services provider's stock valued at $66,000 after purchasing an additional 102 shares during the last quarter. Finally, State of Wyoming lifted its holdings in TD SYNNEX by 51.9% during the fourth quarter. State of Wyoming now owns 594 shares of the business services provider's stock valued at $70,000 after purchasing an additional 203 shares during the last quarter. Institutional investors own 84.00% of the company's stock.

Insider Buying and Selling at TD SYNNEX

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

TD SYNNEX Stock Performance

SNX stock traded up $0.14 during trading on Monday, reaching $141.93. The stock had a trading volume of 809,226 shares, compared to its average volume of 848,757. TD SYNNEX Corporation has a 52 week low of $92.23 and a 52 week high of $145.10. The stock's 50 day moving average is $127.26 and its two-hundred day moving average is $125.80. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 0.45. The firm has a market cap of $11.70 billion, a PE ratio of 16.58, a PEG ratio of 1.17 and a beta of 1.30.

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

TD SYNNEX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.24%. The ex-dividend date is Friday, July 11th. TD SYNNEX's dividend payout ratio is presently 20.56%.

Wall Street Analyst Weigh In

SNX has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their price objective 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. UBS Group lowered their price target 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. Royal Bank Of Canada reiterated an "outperform" rating and set a $145.00 price target on shares of TD SYNNEX in a research report on Wednesday, June 25th. Barclays set a $140.00 price target on shares of TD SYNNEX in a report on Tuesday, June 24th. Finally, Barrington Research restated an "outperform" rating and issued a $156.00 price target on shares of TD SYNNEX in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, TD SYNNEX presently has an average rating of "Moderate Buy" and a consensus price target of $142.56.

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.