Ameriprise Financial Inc. Lowers Stock Position in TD SYNNEX Co. (NYSE:SNX)

Ameriprise Financial Inc. decreased its holdings in TD SYNNEX Co. (NYSE:SNX - Free Report) by 3.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 106,822 shares of the business services provider's stock after selling 3,306 shares during the period. Ameriprise Financial Inc. owned approximately 0.13% of TD SYNNEX worth $12,528,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Bartlett & CO. Wealth Management LLC increased its stake in shares of TD SYNNEX by 345.1% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider's stock worth $27,000 after acquiring an additional 176 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of TD SYNNEX by 174.7% in the fourth quarter. Bessemer Group Inc. now owns 239 shares of the business services provider's stock valued at $28,000 after purchasing an additional 152 shares during the period. UMB Bank n.a. grew its holdings in shares of TD SYNNEX by 48.4% in the fourth quarter. UMB Bank n.a. now owns 429 shares of the business services provider's stock valued at $50,000 after purchasing an additional 140 shares during the period. Blue Trust Inc. increased its position in TD SYNNEX by 37.7% during the fourth quarter. Blue Trust Inc. now owns 471 shares of the business services provider's stock worth $55,000 after purchasing an additional 129 shares during the last quarter. Finally, Global Retirement Partners LLC raised its stake in TD SYNNEX by 31.9% during 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 during the period. 84.00% of the stock is owned by hedge funds and other institutional investors.

TD SYNNEX Trading Up 0.7%

NYSE:SNX traded up $0.81 during trading hours on Thursday, reaching $122.15. 615,262 shares of the stock were exchanged, compared to its average volume of 740,544. TD SYNNEX Co. has a twelve month low of $92.23 and a twelve month high of $145.10. The business has a 50-day moving average of $113.11 and a two-hundred day moving average of $123.34. The company has a market capitalization of $10.25 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 1.06 and a beta of 1.33. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted 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 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 analysts' expectations of $14.79 billion. During the same quarter in the prior year, the firm posted $2.99 EPS. TD SYNNEX's quarterly revenue was up 4.0% compared to the same quarter last year. On average, equities analysts predict that TD SYNNEX Co. will post 11.88 EPS for the current year.

TD SYNNEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 11th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend was Friday, April 11th. TD SYNNEX's payout ratio is 21.97%.

Insider Activity

In other TD SYNNEX news, 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 transaction, the insider now owns 14,883 shares of the company's stock, valued at $1,637,130. This trade represents a 16.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Richard T. Hume sold 20,000 shares of the stock in a transaction dated 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 sale, the director now directly owns 65,480 shares in the company, valued at $8,897,422.40. This represents a 23.40% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,510 shares of company stock valued at $3,241,001. 1.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on SNX shares. Barclays dropped their price target 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. Barrington Research reiterated an "outperform" rating and issued a $156.00 price objective on shares of TD SYNNEX in a research report on Friday, April 11th. The Goldman Sachs Group cut their target price on TD SYNNEX from $154.00 to $137.00 and set a "buy" rating for the company in a research note on Friday, March 28th. JPMorgan Chase & Co. reduced their target price on TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Finally, UBS Group lowered their price target on TD SYNNEX from $150.00 to $138.00 and set a "buy" rating for the company in a 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's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $137.22.

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.