Hsbc Holdings PLC Sells 8,305 Shares of TD SYNNEX Co. (NYSE:SNX)

Hsbc Holdings PLC cut its stake in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 57.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 6,170 shares of the business services provider's stock after selling 8,305 shares during the period. Hsbc Holdings PLC's holdings in TD SYNNEX were worth $722,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Bartlett & CO. Wealth Management LLC boosted its stake in TD SYNNEX by 345.1% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider's stock worth $27,000 after buying an additional 176 shares during the period. Bessemer Group Inc. lifted its position in shares of TD SYNNEX by 174.7% during the fourth 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. UMB Bank n.a. raised its holdings in TD SYNNEX by 48.4% in the fourth 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 in the last quarter. Blue Trust Inc. raised its holdings in TD SYNNEX by 37.7% in the fourth quarter. Blue Trust Inc. now owns 471 shares of the business services provider's stock valued at $55,000 after acquiring an additional 129 shares in the last quarter. Finally, Global Retirement Partners LLC raised its holdings in TD SYNNEX by 31.9% in the fourth quarter. Global Retirement Partners LLC now owns 480 shares of the business services provider's stock valued at $56,000 after acquiring an additional 116 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SNX. Barrington Research reaffirmed an "outperform" rating and issued a $156.00 target price on shares of TD SYNNEX in a report on Friday, April 11th. Royal Bank of Canada cut their price objective on shares of TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Barclays cut their price objective on shares of TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating on the stock in a report on Friday, March 28th. The Goldman Sachs Group cut their price objective on shares of TD SYNNEX from $154.00 to $137.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Finally, Cfra lowered their target price on shares of TD SYNNEX from $147.00 to $132.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Three investment analysts have rated the stock with a hold rating and seven have assigned 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 price target of $137.22.

TD SYNNEX Price Performance

TD SYNNEX stock traded down $0.16 during midday trading on Friday, reaching $118.25. The company's stock had a trading volume of 442,027 shares, compared to its average volume of 747,003. TD SYNNEX Co. has a fifty-two week low of $92.23 and a fifty-two week high of $145.10. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. The stock's 50 day simple moving average is $113.79 and its 200 day simple moving average is $123.12. The firm has a market capitalization of $9.92 billion, a PE ratio of 14.86, a P/E/G ratio of 1.06 and a beta of 1.33.

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 (EPS) for the quarter, missing the consensus estimate of $2.87 by ($0.07). The firm had revenue of $14.53 billion for the quarter, compared to analyst estimates of $14.79 billion. TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The company's quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the firm earned $2.99 EPS. On average, equities research analysts forecast that TD SYNNEX Co. will post 11.88 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Friday, April 11th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.49%. The ex-dividend date was Friday, April 11th. TD SYNNEX's payout ratio is 21.97%.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, CFO Marshall Witt sold 1,510 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $128.08, for a total value of $193,400.80. Following the completion of the transaction, the chief financial officer now owns 49,843 shares in the company, valued at $6,383,891.44. This represents a 2.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Miriam Anne Murphy sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $110.00, for a total value of $330,000.00. Following the completion of the transaction, the insider now owns 14,883 shares of the company's stock, valued at approximately $1,637,130. This represents a 16.78% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,510 shares of company stock valued at $3,241,001. 1.00% of the stock is owned by insiders.

TD SYNNEX 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.