Burgundy Asset Management Ltd. Reduces Stock Holdings in TD SYNNEX Co. (NYSE:SNX)

Burgundy Asset Management Ltd. reduced its stake in TD SYNNEX Co. (NYSE:SNX - Free Report) by 77.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 143,874 shares of the business services provider's stock after selling 499,352 shares during the period. Burgundy Asset Management Ltd. owned 0.17% of TD SYNNEX worth $16,874,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Bartlett & CO. Wealth Management LLC boosted its holdings 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 valued at $27,000 after acquiring an additional 176 shares during the period. Bessemer Group Inc. boosted its position in shares of TD SYNNEX by 174.7% during the fourth quarter. Bessemer Group Inc. now owns 239 shares of the business services provider's stock worth $28,000 after buying an additional 152 shares during the period. UMB Bank n.a. increased its position in TD SYNNEX by 48.4% in the 4th quarter. UMB Bank n.a. now owns 429 shares of the business services provider's stock valued at $50,000 after acquiring an additional 140 shares during the period. Blue Trust Inc. boosted its position in TD SYNNEX by 37.7% during the 4th quarter. Blue Trust Inc. now owns 471 shares of the business services provider's stock worth $55,000 after acquiring an additional 129 shares during the period. Finally, Global Retirement Partners LLC grew its stake 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 in the last quarter. 84.00% of the stock is owned by institutional investors.

TD SYNNEX Stock Down 0.7%

Shares of NYSE SNX traded down $0.93 during mid-day trading on Wednesday, reaching $123.97. 134,068 shares of the company's stock were exchanged, compared to its average volume of 832,582. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $112.53 and a 200 day simple moving average of $123.37. The firm has a market capitalization of $10.40 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 1.06 and a beta of 1.33. TD SYNNEX Co. has a twelve month low of $92.23 and a twelve month high of $145.10.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its quarterly earnings results 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 net margin of 1.18% and a return on equity of 11.91%. The firm had revenue of $14.53 billion during the quarter, compared to the consensus estimate of $14.79 billion. During the same quarter last year, the firm earned $2.99 earnings per share. The business's revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, equities analysts expect that TD SYNNEX Co. will post 11.88 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Friday, April 11th were issued a $0.44 dividend. The ex-dividend date was Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a yield of 1.42%. TD SYNNEX's payout ratio is currently 21.97%.

Analysts Set New Price Targets

Several brokerages recently commented on SNX. UBS Group dropped their target price on 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 reduced their price objective on shares of TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Barclays cut their target price on shares of TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating for the company in a research note on Friday, March 28th. Cfra reduced their target price on shares of TD SYNNEX from $147.00 to $132.00 and set a "buy" rating for the company in a report on Friday, March 28th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $137.22.

Insiders Place Their Bets

In other TD SYNNEX news, insider Miriam Anne Murphy sold 3,000 shares of the stock in a transaction dated 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 now owns 14,883 shares in the company, valued at approximately $1,637,130. This trade represents a 16.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $135.88, for a total value of $2,717,600.00. Following the completion of the transaction, the director now owns 65,480 shares of the company's stock, valued at approximately $8,897,422.40. This trade represents a 23.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, 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.