Vanguard Group Inc. Trims Stake in TD SYNNEX Corporation (NYSE:SNX)

Vanguard Group Inc. reduced its position in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) by 2.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,489,617 shares of the business services provider's stock after selling 195,607 shares during the period. Vanguard Group Inc. owned about 8.92% of TD SYNNEX worth $778,621,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bessemer Group Inc. grew its stake in TD SYNNEX by 174.7% during the 4th quarter. Bessemer Group Inc. now owns 239 shares of the business services provider's stock worth $28,000 after purchasing an additional 152 shares in the last quarter. Versant Capital Management Inc lifted its holdings in TD SYNNEX by 115.1% during the 1st quarter. Versant Capital Management Inc now owns 342 shares of the business services provider's stock worth $36,000 after buying an additional 183 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new stake in TD SYNNEX during the 1st quarter worth about $44,000. State of Wyoming lifted its holdings in shares of TD SYNNEX by 51.9% in the 4th quarter. State of Wyoming now owns 594 shares of the business services provider's stock valued at $70,000 after purchasing an additional 203 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of TD SYNNEX by 16.8% in the 1st quarter. GAMMA Investing LLC now owns 750 shares of the business services provider's stock valued at $78,000 after purchasing an additional 108 shares during the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on SNX. JPMorgan Chase & Co. boosted their target price on TD SYNNEX from $143.00 to $160.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Wall Street Zen downgraded TD SYNNEX from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Morgan Stanley set a $155.00 target price on TD SYNNEX and gave the company an "overweight" rating in a report on Wednesday, June 25th. Royal Bank Of Canada reissued an "outperform" rating and issued a $145.00 target price on shares of TD SYNNEX in a report on Wednesday, June 25th. Finally, Bank of America boosted their target price on TD SYNNEX from $156.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $149.30.

TD SYNNEX Stock Performance

SNX stock traded down $2.69 during trading on Thursday, hitting $150.89. The company had a trading volume of 613,838 shares, compared to its average volume of 525,283. The firm has a market cap of $12.44 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 1.25 and a beta of 1.32. TD SYNNEX Corporation has a 1-year low of $92.23 and a 1-year high of $153.70. The firm has a 50-day moving average price of $138.53 and a 200-day moving average price of $128.42. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 0.45.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its quarterly 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 return on equity of 11.58% and a net margin of 1.21%. The firm had revenue of $14.95 billion for the quarter, compared to analysts' expectations of $14.30 billion. During the same quarter in the previous year, the firm posted $2.73 EPS. The firm's revenue for the quarter was up 7.2% on a year-over-year basis. On average, analysts expect that TD SYNNEX Corporation will post 11.88 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were given a dividend of $0.44 per share. The ex-dividend date was Friday, July 11th. This represents a $1.76 annualized dividend and a yield of 1.2%. TD SYNNEX's payout ratio is presently 20.56%.

Insiders Place Their Bets

In other TD SYNNEX news, CFO Marshall Witt sold 1,509 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $125.35, for a total transaction of $189,153.15. Following the transaction, the chief financial officer owned 49,563 shares in the company, valued at approximately $6,212,722.05. The trade was a 2.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Alim Dhanji sold 1,257 shares of the business's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $142.41, for a total value of $179,009.37. Following the transaction, the insider owned 10,984 shares in the company, valued at $1,564,231.44. The trade was a 10.27% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,888 shares of company stock worth $9,115,025. Company insiders own 1.00% of the company's stock.

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.