Harmony Asset Management LLC Cuts Stock Holdings in TD SYNNEX Co. (NYSE:SNX)

Harmony Asset Management LLC lowered its stake in TD SYNNEX Co. (NYSE:SNX - Free Report) by 8.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,618 shares of the business services provider's stock after selling 2,849 shares during the quarter. TD SYNNEX accounts for 1.4% of Harmony Asset Management LLC's portfolio, making the stock its 17th largest position. Harmony Asset Management LLC's holdings in TD SYNNEX were worth $3,474,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in shares of TD SYNNEX during the 4th quarter valued at $121,199,000. Ninety One UK Ltd raised its holdings in shares of TD SYNNEX by 75.4% during the 4th quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider's stock worth $277,316,000 after acquiring an additional 1,016,251 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in shares of TD SYNNEX by 343.2% during the 4th quarter. Nuveen Asset Management LLC now owns 1,210,036 shares of the business services provider's stock worth $141,913,000 after acquiring an additional 937,040 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of TD SYNNEX by 37.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider's stock worth $361,707,000 after acquiring an additional 813,634 shares in the last quarter. Finally, LSV Asset Management raised its position in shares of TD SYNNEX by 46.9% during 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. 84.00% of the stock is owned by hedge funds and other institutional investors.

TD SYNNEX Price Performance

SNX stock traded up $3.53 during midday trading on Tuesday, reaching $124.96. The stock had a trading volume of 132,446 shares, compared to its average volume of 738,691. The company's fifty day simple moving average is $112.62 and its 200 day simple moving average is $123.36. 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 company has a market cap of $10.49 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 1.06 and a beta of 1.33. TD SYNNEX Co. has a 52-week low of $92.23 and a 52-week high of $145.10.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share for the quarter, missing analysts' consensus estimates of $2.87 by ($0.07). TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The business had revenue of $14.53 billion during the quarter, compared to analysts' expectations of $14.79 billion. During the same period last year, the business earned $2.99 earnings per share. The company's revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, sell-side analysts predict that TD SYNNEX Co. will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 11th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.41%. The ex-dividend date was Friday, April 11th. TD SYNNEX's payout ratio is presently 21.97%.

Wall Street Analyst Weigh In

SNX has been the topic of a number of recent analyst reports. UBS Group reduced their target price on TD SYNNEX from $150.00 to $138.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Barrington Research restated an "outperform" rating and issued a $156.00 target price on shares of TD SYNNEX in a research note on Friday, April 11th. Wall Street Zen downgraded TD SYNNEX from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Barclays lowered their price objective 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. Finally, Cfra decreased their target price on shares of TD SYNNEX from $147.00 to $132.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $137.22.

Insider Activity

In other TD SYNNEX news, CFO Marshall Witt sold 1,510 shares of the business's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total transaction of $193,400.80. Following the sale, the chief financial officer now directly owns 49,843 shares in the company, valued at $6,383,891.44. This represents a 2.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard T. Hume sold 20,000 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $135.88, for a total transaction of $2,717,600.00. Following the sale, the director now owns 65,480 shares in the company, valued at $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 90 days, insiders have sold 24,510 shares of company stock valued at $3,241,001. 1.00% of the stock is currently owned by company insiders.

TD SYNNEX 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.