KBC Group NV Sells 4,057 Shares of TD SYNNEX Corporation (NYSE:SNX)

KBC Group NV reduced its stake in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 58.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,931 shares of the business services provider's stock after selling 4,057 shares during the period. KBC Group NV's holdings in TD SYNNEX were worth $305,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in TD SYNNEX in the fourth quarter worth approximately $121,199,000. Nuveen Asset Management LLC lifted its position in TD SYNNEX by 343.2% in the fourth quarter. Nuveen Asset Management LLC now owns 1,210,036 shares of the business services provider's stock worth $141,913,000 after purchasing an additional 937,040 shares during the period. LSV Asset Management lifted its position in TD SYNNEX by 46.9% in the fourth quarter. LSV Asset Management now owns 1,715,847 shares of the business services provider's stock worth $201,235,000 after purchasing an additional 547,692 shares during the period. Brave Warrior Advisors LLC lifted its position in TD SYNNEX by 12.2% in the fourth quarter. Brave Warrior Advisors LLC now owns 4,147,172 shares of the business services provider's stock worth $486,380,000 after purchasing an additional 451,557 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in TD SYNNEX in the fourth quarter worth approximately $47,094,000. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at TD SYNNEX

In other news, CFO Marshall Witt sold 1,509 shares of the business's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $125.35, for a total transaction of $189,153.15. Following the transaction, the chief financial officer directly owned 49,563 shares in the company, valued at $6,212,722.05. The trade was a 2.95% decrease in their position. 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 business's stock in a transaction 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 transaction, the insider owned 14,883 shares in the company, valued at approximately $1,637,130. This represents a 16.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,819 shares of company stock valued at $9,143,874 in the last three months. 1.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Loop Capital upped their target price on TD SYNNEX from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. JPMorgan Chase & Co. cut their target price on TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Barclays set a $140.00 price target on TD SYNNEX in a report on Tuesday, June 24th. The Goldman Sachs Group dropped their price target on TD SYNNEX from $154.00 to $137.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $145.00 price target on shares of TD SYNNEX in a report on Wednesday, June 25th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, TD SYNNEX presently has an average rating of "Moderate Buy" and a consensus target price of $142.56.

TD SYNNEX Stock Up 0.3%

NYSE:SNX traded up $0.42 during trading hours on Wednesday, hitting $141.51. 387,390 shares of the stock traded hands, compared to its average volume of 736,154. The firm has a 50 day moving average price of $126.11 and a 200 day moving average price of $125.39. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 0.45. TD SYNNEX Corporation 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 $11.67 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 1.16 and a beta of 1.30.

TD SYNNEX (NYSE:SNX - Get Free Report) last announced its earnings results on Tuesday, June 24th. The business services provider reported $2.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.28. TD SYNNEX had a net margin of 1.21% and a return on equity of 11.58%. The company had revenue of $14.95 billion for the quarter, compared to the consensus estimate of $14.30 billion. During the same period in the previous year, the business earned $2.73 EPS. The company's revenue was up 7.2% on a year-over-year basis. Equities research analysts anticipate that TD SYNNEX Corporation will post 11.88 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.24%. The ex-dividend date is Friday, July 11th. TD SYNNEX's dividend payout ratio (DPR) is currently 20.56%.

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.