TD SYNNEX Co. (NYSE:SNX) Shares Sold by Voloridge Investment Management LLC

Voloridge Investment Management LLC reduced its stake in TD SYNNEX Co. (NYSE:SNX - Free Report) by 19.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 236,881 shares of the business services provider's stock after selling 58,115 shares during the period. Voloridge Investment Management LLC owned 0.28% of TD SYNNEX worth $27,781,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in SNX. JPMorgan Chase & Co. lifted its holdings in TD SYNNEX by 37.0% during the third quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider's stock worth $361,707,000 after buying an additional 813,634 shares during the period. Assenagon Asset Management S.A. purchased a new stake in TD SYNNEX in the fourth quarter valued at approximately $2,260,000. Ritholtz Wealth Management increased its holdings in TD SYNNEX by 10.6% in the 4th quarter. Ritholtz Wealth Management now owns 2,519 shares of the business services provider's stock worth $295,000 after buying an additional 241 shares during the period. HB Wealth Management LLC purchased a new position in TD SYNNEX during the 4th quarter worth approximately $279,000. Finally, UMB Bank n.a. boosted its holdings in shares of 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 last quarter. 84.00% of the stock is currently owned by institutional investors.

TD SYNNEX Price Performance

Shares of SNX stock traded up $3.39 during trading hours on Tuesday, hitting $124.82. 105,887 shares of the company's stock were exchanged, compared to its average volume of 738,591. TD SYNNEX Co. has a fifty-two week low of $92.23 and a fifty-two week high of $145.10. The firm has a market cap of $10.47 billion, a P/E ratio of 15.69, a P/E/G 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. The firm has a 50 day moving average of $112.62 and a two-hundred day moving average of $123.36.

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 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 company had revenue of $14.53 billion for the quarter, compared to analyst estimates of $14.79 billion. During the same quarter in the prior year, the company posted $2.99 earnings per share. The business's revenue was up 4.0% on a year-over-year basis. Sell-side analysts forecast that TD SYNNEX Co. will post 11.88 EPS for the current year.

TD SYNNEX Dividend Announcement

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

Insiders Place Their Bets

In related news, insider Miriam Anne Murphy sold 3,000 shares of the business's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $110.00, for a total transaction of $330,000.00. Following the transaction, the insider now directly owns 14,883 shares in the company, valued at approximately $1,637,130. The trade was a 16.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Richard T. Hume sold 20,000 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $135.88, for a total transaction of $2,717,600.00. Following the sale, the director now directly owns 65,480 shares of the company's stock, valued at approximately $8,897,422.40. This represents a 23.40% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 24,510 shares of company stock worth $3,241,001. Corporate insiders own 1.00% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on SNX shares. UBS Group lowered their price target on shares of TD SYNNEX from $150.00 to $138.00 and set a "buy" rating on the stock in a report on Friday, March 28th. JPMorgan Chase & Co. lowered their target price on TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Cfra reduced their price target on TD SYNNEX from $147.00 to $132.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Barclays lowered their price objective on TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating on the stock in a research report on Friday, March 28th. Finally, Barrington Research reaffirmed an "outperform" rating and set a $156.00 price objective on shares of TD SYNNEX 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's stock. Based on data from MarketBeat.com, 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.