Vontobel Holding Ltd. Sells 6,855 Shares of TD SYNNEX Co. (NYSE:SNX)

Vontobel Holding Ltd. lowered its stake in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 71.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,693 shares of the business services provider's stock after selling 6,855 shares during the period. Vontobel Holding Ltd.'s holdings in TD SYNNEX were worth $290,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SNX. Lecap Asset Management Ltd. acquired a new stake in TD SYNNEX in the 4th quarter valued at $467,000. Louisiana State Employees Retirement System purchased a new stake in shares of TD SYNNEX during the 4th quarter valued at about $1,550,000. Sapient Capital LLC acquired a new position in TD SYNNEX during the 4th quarter worth approximately $298,000. Mutual of America Capital Management LLC grew its position in TD SYNNEX by 1.9% in the fourth quarter. Mutual of America Capital Management LLC now owns 31,583 shares of the business services provider's stock valued at $3,399,000 after acquiring an additional 578 shares in the last quarter. Finally, GHP Investment Advisors Inc. raised its stake in shares of TD SYNNEX by 27.8% during the fourth quarter. GHP Investment Advisors Inc. now owns 9,298 shares of the business services provider's stock valued at $1,001,000 after purchasing an additional 2,022 shares during the period. Institutional investors and hedge funds own 84.00% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on SNX. JPMorgan Chase & Co. raised their price objective on TD SYNNEX from $113.00 to $126.00 and gave the company a "neutral" rating in a research note on Monday, April 1st. UBS Group raised shares of TD SYNNEX from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $115.00 to $145.00 in a report on Tuesday, April 16th. Barrington Research boosted their target price on shares of TD SYNNEX from $122.00 to $138.00 and gave the stock an "outperform" rating in a research report on Thursday, March 28th. Cfra increased their price target on shares of TD SYNNEX from $110.00 to $113.00 and gave the stock a "hold" rating in a research report on Tuesday, March 26th. Finally, Barclays boosted their price objective on TD SYNNEX from $111.00 to $118.00 and gave the company an "equal weight" rating in a report on Wednesday, March 27th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $121.82.

Insider Buying and Selling

In related news, CEO Richard T. Hume sold 10,000 shares of TD SYNNEX stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $105.57, for a total transaction of $1,055,700.00. Following the transaction, the chief executive officer now directly owns 229,363 shares of the company's stock, valued at $24,213,851.91. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Dennis Polk sold 20,000 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the completion of the sale, the insider now owns 134,706 shares in the company, valued at approximately $15,908,778.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard T. Hume sold 10,000 shares of TD SYNNEX stock in a transaction on Monday, March 4th. The stock was sold at an average price of $105.57, for a total value of $1,055,700.00. Following the completion of the transaction, the chief executive officer now owns 229,363 shares in the company, valued at $24,213,851.91. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.

TD SYNNEX Stock Performance

SNX stock traded up $1.30 on Wednesday, reaching $117.24. The company's stock had a trading volume of 618,713 shares, compared to its average volume of 967,841. The firm has a fifty day moving average of $108.48 and a two-hundred day moving average of $103.05. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.75. The company has a market capitalization of $10.45 billion, a P/E ratio of 17.02, a price-to-earnings-growth ratio of 1.08 and a beta of 1.64. TD SYNNEX Co. has a 52 week low of $86.30 and a 52 week high of $119.87.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its quarterly earnings results on Tuesday, March 26th. The business services provider reported $2.83 EPS for the quarter, beating analysts' consensus estimates of $2.71 by $0.12. The company had revenue of $13.98 billion for the quarter, compared to analyst estimates of $14.37 billion. TD SYNNEX had a return on equity of 12.16% and a net margin of 1.12%. As a group, analysts predict that TD SYNNEX Co. will post 11.38 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors 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 dividend on an annualized basis and a dividend yield of 1.36%. TD SYNNEX's dividend payout ratio is presently 23.22%.

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.