Nuveen Asset Management LLC Increases Position in TD SYNNEX Co. (NYSE:SNX)

Nuveen Asset Management LLC lifted its stake in TD SYNNEX Co. (NYSE:SNX - Free Report) by 343.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,210,036 shares of the business services provider's stock after buying an additional 937,040 shares during the quarter. Nuveen Asset Management LLC owned about 1.43% of TD SYNNEX worth $141,913,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SNX. Bartlett & CO. Wealth Management LLC boosted its position in shares of TD SYNNEX by 345.1% in the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider's stock worth $27,000 after purchasing an additional 176 shares during the period. Bessemer Group Inc. boosted its holdings in 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 buying an additional 152 shares during the period. UMB Bank n.a. boosted its holdings in 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 buying an additional 140 shares during the period. Blue Trust Inc. boosted its holdings in 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 buying an additional 129 shares during the period. Finally, Global Retirement Partners LLC boosted its holdings in 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 buying an additional 116 shares during the period. 84.00% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the firm's stock in a transaction that occurred on 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 in the company, valued at $8,897,422.40. This trade represents a 23.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Marshall Witt sold 1,510 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total transaction of $193,400.80. Following the completion of the sale, the chief financial officer now owns 49,843 shares of the company's stock, valued at approximately $6,383,891.44. This trade represents a 2.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,510 shares of company stock valued at $3,241,001 over the last ninety days. 1.00% of the stock is owned by company insiders.

TD SYNNEX Trading Down 0.1%

TD SYNNEX stock traded down $0.10 during midday trading on Tuesday, reaching $124.26. The stock had a trading volume of 525,466 shares, compared to its average volume of 742,535. 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 Co. has a 52-week low of $92.23 and a 52-week high of $145.10. The firm has a market cap of $10.43 billion, a price-to-earnings ratio of 15.61, a price-to-earnings-growth ratio of 1.06 and a beta of 1.33. The company has a fifty day moving average of $113.25 and a 200 day moving average of $123.34.

TD SYNNEX (NYSE:SNX - Get Free Report) last announced its quarterly earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share (EPS) 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 firm had revenue of $14.53 billion during the quarter, compared to analysts' expectations of $14.79 billion. During the same quarter in the previous year, the firm posted $2.99 EPS. The firm'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 fiscal year.

TD SYNNEX Announces Dividend

The firm also recently disclosed 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. This represents a $1.76 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend was Friday, April 11th. TD SYNNEX's payout ratio is 21.97%.

Analyst Ratings Changes

Several brokerages recently weighed in on SNX. JPMorgan Chase & Co. dropped their target price on shares of TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Barclays dropped their price objective on shares of TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating for the company in a report on Friday, March 28th. UBS Group dropped their price objective on shares of TD SYNNEX from $150.00 to $138.00 and set a "buy" rating for the company in a report on Friday, March 28th. Royal Bank of Canada dropped their price objective 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. Finally, StockNews.com downgraded shares of TD SYNNEX from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Three 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, the company has a consensus rating of "Moderate Buy" and an average target price of $137.22.

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.