Ameriprise Financial Inc. Has $12.53 Million Stock Holdings in TD SYNNEX Co. (NYSE:SNX)

Ameriprise Financial Inc. lowered its stake in shares of 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 (SEC). The fund owned 106,822 shares of the business services provider's stock after selling 3,306 shares during the quarter. Ameriprise Financial Inc. owned about 0.13% of TD SYNNEX worth $12,528,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Arizona State Retirement System grew its stake in TD SYNNEX by 0.4% during the fourth quarter. Arizona State Retirement System now owns 22,225 shares of the business services provider's stock worth $2,607,000 after buying an additional 78 shares during the period. Quadrant Capital Group LLC boosted its position in TD SYNNEX by 9.2% during the 4th quarter. Quadrant Capital Group LLC now owns 1,068 shares of the business services provider's stock worth $125,000 after purchasing an additional 90 shares during the period. Utah Retirement Systems boosted its position in TD SYNNEX by 2.5% during the 4th quarter. Utah Retirement Systems now owns 4,100 shares of the business services provider's stock worth $481,000 after purchasing an additional 100 shares during the period. Amundi increased its holdings in TD SYNNEX by 22.3% in the 4th quarter. Amundi now owns 560 shares of the business services provider's stock valued at $66,000 after purchasing an additional 102 shares in the last quarter. Finally, Highland Capital Management LLC raised its position in TD SYNNEX by 6.5% in the fourth quarter. Highland Capital Management LLC now owns 1,905 shares of the business services provider's stock valued at $223,000 after purchasing an additional 116 shares during the period. 84.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Marshall Witt sold 1,510 shares of TD SYNNEX stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total value of $193,400.80. Following the transaction, the chief financial officer now directly owns 49,843 shares of the company's stock, valued at $6,383,891.44. This trade represents a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Miriam Anne Murphy sold 3,000 shares of the company'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 transaction of $330,000.00. Following the completion of the sale, the insider now owns 14,883 shares of the company's stock, valued at approximately $1,637,130. This trade represents a 16.78% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,510 shares of company stock worth $3,241,001. Corporate insiders own 1.00% of the company's stock.

TD SYNNEX Price Performance

TD SYNNEX stock traded down $0.78 during trading hours on Friday, hitting $121.53. 398,895 shares of the company traded hands, compared to its average volume of 741,075. TD SYNNEX Co. has a 1-year low of $92.23 and a 1-year high of $145.10. The firm has a market cap of $10.20 billion, a P/E ratio of 15.27, a P/E/G ratio of 1.06 and a beta of 1.33. The firm's 50-day simple moving average is $112.83 and its two-hundred day simple moving average is $123.40. 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 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 firm had revenue of $14.53 billion during the quarter, compared to analyst estimates of $14.79 billion. During the same quarter last year, the company earned $2.99 earnings per share. The business's revenue for the quarter was up 4.0% on a year-over-year basis. As a group, analysts forecast that TD SYNNEX Co. will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Friday, April 11th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date was Friday, April 11th. TD SYNNEX's payout ratio is 21.97%.

Analyst Ratings Changes

A number of research firms have recently issued reports on SNX. Royal Bank of Canada lowered their target price on TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. JPMorgan Chase & Co. lowered 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 report on Friday, April 11th. Cfra reduced their target price on shares of TD SYNNEX from $147.00 to $132.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. The Goldman Sachs Group decreased their target price on shares of TD SYNNEX from $154.00 to $137.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Finally, Wall Street Zen downgraded shares of TD SYNNEX from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $137.22.

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.