Bank of New York Mellon Corp Purchases 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 its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 705,454 shares of the business services provider's stock after buying an additional 22,836 shares during the quarter. Bank of New York Mellon Corp owned about 0.84% of TD SYNNEX worth $73,339,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Barclays PLC increased its position in TD SYNNEX by 20.1% during the fourth quarter. Barclays PLC now owns 97,617 shares of the business services provider's stock worth $11,448,000 after acquiring an additional 16,310 shares during the period. Proficio Capital Partners LLC bought a new position in shares of TD SYNNEX during the fourth quarter worth approximately $5,158,000. Wealth Enhancement Advisory Services LLC raised its position in shares of TD SYNNEX by 3.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,252 shares of the business services provider's stock valued at $754,000 after buying an additional 244 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of TD SYNNEX by 11.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,361 shares of the business services provider's stock valued at $765,000 after buying an additional 785 shares during the period. Finally, Sei Investments Co. grew its position in TD SYNNEX by 25.5% during the fourth quarter. Sei Investments Co. now owns 70,745 shares of the business services provider's stock worth $8,297,000 after buying an additional 14,379 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

TD SYNNEX Trading Down 0.5%

SNX traded down $0.72 during trading on Friday, reaching $141.66. 529,876 shares of the company's stock were exchanged, compared to its average volume of 734,937. The firm has a fifty day moving average price of $126.71 and a two-hundred day moving average price of $125.56. The stock has a market capitalization of $11.68 billion, a PE ratio of 16.55, a price-to-earnings-growth ratio of 1.17 and a beta of 1.30. TD SYNNEX Corporation has a one year low of $92.23 and a one year high of $145.10. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 0.45.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its quarterly 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. 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 analyst estimates of $14.30 billion. During the same quarter in the previous year, the company posted $2.73 EPS. The business's revenue was up 7.2% on a year-over-year basis. As a group, equities research analysts forecast that TD SYNNEX Corporation will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

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

Insider Activity at TD SYNNEX

In other TD SYNNEX news, insider Miriam Anne Murphy sold 3,000 shares of the 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 sale, the insider directly owned 14,883 shares in the company, valued at approximately $1,637,130. This trade represents a 16.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard T. Hume sold 63,310 shares of the company's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $136.23, for a total value of $8,624,721.30. Following the sale, the director owned 67,515 shares in the company, valued at approximately $9,197,568.45. The trade was a 48.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,819 shares of company stock worth $9,143,874 over the last quarter. Company insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Royal Bank Of Canada reissued an "outperform" rating and set a $145.00 target price on shares of TD SYNNEX in a report on Wednesday, June 25th. Wall Street Zen upgraded shares of TD SYNNEX from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. The Goldman Sachs Group reduced 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. Barclays set a $140.00 price objective on shares of TD SYNNEX in a research report on Tuesday, June 24th. Finally, Morgan Stanley set a $155.00 price target on TD SYNNEX and gave the company an "overweight" rating in a research note on Wednesday, June 25th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, TD SYNNEX currently 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.