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

KBC Group NV lowered its holdings in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) by 58.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund 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 filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in TD SYNNEX by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 7,685,224 shares of the business services provider's stock valued at $901,323,000 after purchasing an additional 29,659 shares during the last quarter. FMR LLC increased its holdings in TD SYNNEX by 3.2% during the 4th quarter. FMR LLC now owns 7,663,179 shares of the business services provider's stock valued at $898,738,000 after purchasing an additional 237,587 shares during the period. Brave Warrior Advisors LLC raised its position in TD SYNNEX by 12.2% during the 4th quarter. Brave Warrior Advisors LLC now owns 4,147,172 shares of the business services provider's stock valued at $486,380,000 after purchasing an additional 451,557 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in TD SYNNEX by 10.7% in the 4th quarter. JPMorgan Chase & Co. now owns 3,335,501 shares of the business services provider's stock worth $391,188,000 after buying an additional 323,282 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of TD SYNNEX by 1.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,266,614 shares of the business services provider's stock worth $265,826,000 after buying an additional 31,404 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company's stock.

Insider Activity

In other TD SYNNEX news, insider Miriam Anne Murphy sold 3,000 shares of the firm'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 completion of the sale, the insider directly owned 14,883 shares in the company, valued at approximately $1,637,130. This trade represents a 16.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard T. Hume sold 63,310 shares of the company's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $136.23, for a total transaction of $8,624,721.30. Following the completion of the transaction, the director owned 67,515 shares in the company, valued at approximately $9,197,568.45. This represents a 48.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,819 shares of company stock worth $9,143,874 over the last three months. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

SNX has been the subject of a number of research analyst reports. Loop Capital raised their price target on TD SYNNEX from $150.00 to $160.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. Morgan Stanley set a $155.00 target price on shares of TD SYNNEX and gave the company an "overweight" rating in a research note on Wednesday, June 25th. The Goldman Sachs Group decreased their price target 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. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $145.00 price objective on shares of TD SYNNEX in a research report on Wednesday, June 25th. Finally, Cfra decreased their target price 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. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $142.56.

TD SYNNEX Stock Down 0.6%

NYSE:SNX traded down $0.84 during mid-day trading on Monday, hitting $139.37. 688,910 shares of the company's stock were exchanged, compared to its average volume of 741,333. The company has a market cap of $11.49 billion, a PE ratio of 16.28, a P/E/G ratio of 1.16 and a beta of 1.30. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.26 and a quick ratio of 0.75. TD SYNNEX Corporation has a one year low of $92.23 and a one year high of $145.10. The business has a fifty day moving average price of $124.32 and a 200 day moving average price of $125.01.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its quarterly earnings results on Tuesday, June 24th. The business services provider reported $2.99 EPS for the quarter, topping analysts' consensus estimates of $2.71 by $0.28. The firm had revenue of $14.95 billion for the quarter, compared to analysts' expectations of $14.30 billion. TD SYNNEX had a return on equity of 11.58% and a net margin of 1.21%. The business's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.73 EPS. Equities analysts predict that TD SYNNEX Corporation will post 11.88 EPS for the current year.

TD SYNNEX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, July 11th will be paid a $0.44 dividend. The ex-dividend date is Friday, July 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.26%. TD SYNNEX's dividend payout ratio 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.