TD SYNNEX Co. (NYSE:SNX) Stock Position Decreased by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. decreased its holdings in TD SYNNEX Co. (NYSE:SNX - Free Report) by 32.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 75,434 shares of the business services provider's stock after selling 35,558 shares during the quarter. Raymond James Financial Services Advisors Inc. owned 0.08% of TD SYNNEX worth $8,117,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Nomura Asset Management Co. Ltd. increased its holdings in TD SYNNEX by 95.2% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 410 shares of the business services provider's stock worth $40,000 after acquiring an additional 200 shares in the last quarter. Advisors Asset Management Inc. bought a new position in TD SYNNEX in the 1st quarter worth approximately $51,000. Covestor Ltd boosted its stake in TD SYNNEX by 91.5% in the 1st quarter. Covestor Ltd now owns 697 shares of the business services provider's stock worth $72,000 after purchasing an additional 333 shares during the period. Gladius Capital Management LP boosted its stake in TD SYNNEX by 50.8% in the 3rd quarter. Gladius Capital Management LP now owns 742 shares of the business services provider's stock worth $75,000 after purchasing an additional 250 shares during the period. Finally, Signaturefd LLC boosted its stake in TD SYNNEX by 28.9% in the 3rd quarter. Signaturefd LLC now owns 954 shares of the business services provider's stock worth $95,000 after purchasing an additional 214 shares during the period. Hedge funds and other institutional investors own 84.00% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Royal Bank of Canada restated a "sector perform" rating and issued a $118.00 price target (up from $110.00) on shares of TD SYNNEX in a research note on Wednesday, March 27th. Cfra increased their target price on TD SYNNEX from $110.00 to $113.00 and gave the company a "hold" rating in a research report on Tuesday, March 26th. StockNews.com upgraded TD SYNNEX from a "hold" rating to a "buy" rating in a research report on Thursday, December 21st. Barrington Research raised their price target on TD SYNNEX from $122.00 to $138.00 and gave the stock an "outperform" rating in a research report on Thursday, March 28th. Finally, JPMorgan Chase & Co. raised their price target on TD SYNNEX from $113.00 to $126.00 and gave the stock a "neutral" rating in a research report on Monday. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, TD SYNNEX has an average rating of "Moderate Buy" and a consensus price target of $118.18.

Insider Activity

In other news, insider Michael Urban sold 5,000 shares of the firm's stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $103.67, for a total transaction of $518,350.00. Following the transaction, the insider now owns 36,131 shares in the company, valued at $3,745,700.77. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other TD SYNNEX news, insider Dennis Polk sold 6,701 shares of the firm's stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $103.84, for a total value of $695,831.84. Following the completion of the sale, the insider now owns 135,092 shares of the company's stock, valued at $14,027,953.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Michael Urban sold 5,000 shares of TD SYNNEX stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $103.67, for a total value of $518,350.00. Following the sale, the insider now directly owns 36,131 shares of the company's stock, valued at approximately $3,745,700.77. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,289,905 shares of company stock worth $232,556,362. Company insiders own 1.90% of the company's stock.

TD SYNNEX Trading Up 3.3 %

SNX stock traded up $3.70 during midday trading on Tuesday, reaching $116.44. The company's stock had a trading volume of 6,752,666 shares, compared to its average volume of 913,741. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.75 and a current ratio of 1.22. The stock has a fifty day simple moving average of $103.91 and a two-hundred day simple moving average of $101.22. TD SYNNEX Co. has a 1 year low of $86.30 and a 1 year high of $116.83. The firm has a market capitalization of $10.37 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 1.01 and a beta of 1.64.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its earnings results on Tuesday, January 9th. The business services provider reported $3.13 earnings per share for the quarter, topping analysts' consensus estimates of $2.56 by $0.57. TD SYNNEX had a return on equity of 12.16% and a net margin of 1.12%. The business had revenue of $14.41 billion for the quarter, compared to analyst estimates of $14.54 billion. During the same quarter last year, the firm posted $3.30 earnings per share. The business's revenue was down 11.3% compared to the same quarter last year. On average, equities research analysts predict that TD SYNNEX Co. will post 11.17 EPS for the current year.

TD SYNNEX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $1.60 annualized dividend and a dividend yield of 1.37%. TD SYNNEX's dividend payout ratio is currently 23.22%.

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.