TD SYNNEX Co. (NYSE:SNX) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lowered its position in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 57.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,170 shares of the business services provider's stock after selling 8,305 shares during the quarter. Hsbc Holdings PLC's holdings in TD SYNNEX were worth $722,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. IHT Wealth Management LLC purchased a new stake in TD SYNNEX during the 4th quarter valued at about $205,000. Stifel Financial Corp boosted its holdings in shares of TD SYNNEX by 44.0% during the 4th quarter. Stifel Financial Corp now owns 24,788 shares of the business services provider's stock worth $2,907,000 after purchasing an additional 7,580 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of TD SYNNEX by 157.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,163 shares of the business services provider's stock valued at $488,000 after purchasing an additional 2,547 shares in the last quarter. MetLife Investment Management LLC increased its holdings in shares of TD SYNNEX by 8.6% in the fourth quarter. MetLife Investment Management LLC now owns 42,682 shares of the business services provider's stock valued at $5,006,000 after purchasing an additional 3,383 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in TD SYNNEX by 1.4% during the fourth 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 in the last quarter. Institutional investors and hedge funds own 84.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on SNX shares. The Goldman Sachs Group cut their target price on 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 cut their price target on shares of TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating for the company in a report on Friday, April 11th. 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. JPMorgan Chase & Co. reduced their target price on TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Finally, Barclays lowered their price target 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 equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $137.22.

Insiders Place Their Bets

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 stock was sold at an average price of $110.00, for a total transaction of $330,000.00. Following the transaction, the insider now owns 14,883 shares of the company's stock, valued at approximately $1,637,130. This trade represents a 16.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard T. Hume sold 20,000 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were 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 $8,897,422.40. The trade was a 23.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,510 shares of company stock valued at $3,241,001. 1.00% of the stock is owned by corporate insiders.

TD SYNNEX Stock Up 2.7 %

Shares of TD SYNNEX stock traded up $3.13 on Thursday, reaching $118.45. 730,568 shares of the company were exchanged, compared to its average volume of 746,161. The stock's 50 day moving average price is $114.07 and its 200-day moving average price is $123.10. The company has a market cap of $9.94 billion, a P/E ratio of 14.88, a price-to-earnings-growth ratio of 1.06 and a beta of 1.33. TD SYNNEX Co. has a 1-year low of $92.23 and a 1-year high of $145.10. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76.

TD SYNNEX (NYSE:SNX - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $14.53 billion during the quarter, compared to analyst estimates of $14.79 billion. TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. TD SYNNEX's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.99 earnings per share. As a group, equities analysts forecast that TD SYNNEX Co. will post 11.88 EPS for the current year.

TD SYNNEX Dividend Announcement

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

About TD SYNNEX

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.