WBI Investments LLC Invests $420,000 in TD SYNNEX Co. (NYSE:SNX)

WBI Investments LLC acquired a new position in TD SYNNEX Co. (NYSE:SNX - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,584 shares of the business services provider's stock, valued at approximately $420,000.

Other hedge funds also recently modified their holdings of the company. Bartlett & CO. Wealth Management LLC lifted its position in shares of TD SYNNEX by 345.1% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider's stock worth $27,000 after acquiring an additional 176 shares during the period. Bessemer Group Inc. lifted its position in shares of TD SYNNEX by 174.7% in the 4th quarter. Bessemer Group Inc. now owns 239 shares of the business services provider's stock worth $28,000 after acquiring an additional 152 shares during the period. UMB Bank n.a. lifted its position 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 worth $50,000 after acquiring an additional 140 shares during the period. Blue Trust Inc. lifted its position in shares of TD SYNNEX by 37.7% in the 4th quarter. Blue Trust Inc. now owns 471 shares of the business services provider's stock worth $55,000 after acquiring an additional 129 shares during the period. Finally, Global Retirement Partners LLC lifted its position in shares of TD SYNNEX by 31.9% in the 4th quarter. Global Retirement Partners LLC now owns 480 shares of the business services provider's stock worth $56,000 after acquiring an additional 116 shares during the period. Institutional investors own 84.00% of the company's stock.

Insider Activity

In other news, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $135.88, for a total value of $2,717,600.00. Following the completion of the sale, the director now directly owns 65,480 shares of the company's stock, valued at approximately $8,897,422.40. This trade represents a 23.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Miriam Anne Murphy sold 3,000 shares of TD SYNNEX stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $110.00, for a total value of $330,000.00. Following the completion of the sale, the insider now directly owns 14,883 shares of the company's stock, valued at $1,637,130. This trade represents a 16.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,510 shares of company stock valued at $3,241,001. Company insiders own 1.00% of the company's stock.

TD SYNNEX Price Performance

SNX stock traded down $0.78 during midday trading on Friday, reaching $121.53. 398,895 shares of the company's stock traded hands, compared to its average volume of 741,075. The company has a 50-day simple moving average of $112.83 and a two-hundred day simple moving average of $123.40. TD SYNNEX Co. has a 1-year low of $92.23 and a 1-year high of $145.10. The company has a market cap of $10.20 billion, a price-to-earnings ratio of 15.27, a PEG 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.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its quarterly 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 net margin of 1.18% and a return on equity of 11.91%. The business had revenue of $14.53 billion for the quarter, compared to analyst estimates of $14.79 billion. During the same period in the prior year, the business earned $2.99 earnings per share. The company's revenue for the quarter was up 4.0% on a year-over-year basis. On average, analysts anticipate that TD SYNNEX Co. will post 11.88 earnings per share for the current year.

TD SYNNEX Announces Dividend

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

Analyst Ratings Changes

A number of analysts have commented on the company. Barrington Research reiterated an "outperform" rating and issued a $156.00 price objective on shares of TD SYNNEX in a research report on Friday, April 11th. Wall Street Zen cut TD SYNNEX from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. UBS Group dropped their target price on TD SYNNEX from $150.00 to $138.00 and set a "buy" rating for the company in a report on Friday, March 28th. Cfra dropped their target price on TD SYNNEX from $147.00 to $132.00 and set a "buy" rating for the company in a report on Friday, March 28th. Finally, Barclays dropped their target price on TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating for the company in a report on Friday, March 28th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target 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.