Northern Trust Corp Has $76.23 Million Stock Holdings in TD SYNNEX Co. (NYSE:SNX)

Northern Trust Corp increased its holdings in TD SYNNEX Co. (NYSE:SNX - Free Report) by 21.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 649,981 shares of the business services provider's stock after acquiring an additional 116,571 shares during the quarter. Northern Trust Corp owned approximately 0.77% of TD SYNNEX worth $76,230,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of SNX. Norges Bank acquired a new position in shares of TD SYNNEX in the fourth quarter worth about $121,199,000. Ninety One UK Ltd lifted its stake in shares of TD SYNNEX by 75.4% in the fourth quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider's stock worth $277,316,000 after acquiring an additional 1,016,251 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of TD SYNNEX by 37.0% in the third quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider's stock worth $361,707,000 after acquiring an additional 813,634 shares in the last quarter. LSV Asset Management increased its holdings in TD SYNNEX by 46.9% in the fourth quarter. LSV Asset Management now owns 1,715,847 shares of the business services provider's stock valued at $201,235,000 after buying an additional 547,692 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in TD SYNNEX in the fourth quarter valued at about $47,094,000. Institutional investors and hedge funds own 84.00% of the company's stock.

TD SYNNEX Price Performance

Shares of NYSE:SNX traded down $0.16 on Friday, reaching $118.25. 442,027 shares of the company traded hands, 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's 50 day moving average is $113.79 and its 200-day moving average is $123.12. The stock 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. 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 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). TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The firm had revenue of $14.53 billion for the quarter, compared to analyst estimates of $14.79 billion. During the same period last year, the firm earned $2.99 earnings per share. TD SYNNEX's revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, analysts anticipate that TD SYNNEX Co. will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

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

Insider Transactions at TD SYNNEX

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on SNX shares. StockNews.com lowered TD SYNNEX from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Barclays reduced their price objective on TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating for the company in a research report on Friday, March 28th. Cfra reduced their price objective 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. JPMorgan Chase & Co. reduced their price objective on TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Finally, 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 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. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $137.22.

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.