Boston Partners Reduces Holdings in TD SYNNEX Co. (NYSE:SNX)

Boston Partners decreased its holdings in TD SYNNEX Co. (NYSE:SNX - Free Report) by 5.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 216,668 shares of the business services provider's stock after selling 12,587 shares during the period. Boston Partners owned about 0.24% of TD SYNNEX worth $23,314,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. SummerHaven Investment Management LLC lifted its stake in TD SYNNEX by 1.4% in the fourth quarter. SummerHaven Investment Management LLC now owns 7,499 shares of the business services provider's stock worth $807,000 after purchasing an additional 102 shares during the last quarter. Teacher Retirement System of Texas grew its position in TD SYNNEX by 0.6% during the fourth quarter. Teacher Retirement System of Texas now owns 23,242 shares of the business services provider's stock valued at $2,501,000 after buying an additional 142 shares during the period. Linden Thomas Advisory Services LLC grew its holdings in TD SYNNEX by 1.9% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 7,890 shares of the business services provider's stock valued at $849,000 after purchasing an additional 146 shares during the period. Signaturefd LLC grew its position in shares of TD SYNNEX by 28.9% in the third quarter. Signaturefd LLC now owns 954 shares of the business services provider's stock valued at $95,000 after purchasing an additional 214 shares during the period. Finally, Fifth Third Bancorp boosted its stake in shares of TD SYNNEX by 19.2% in the third quarter. Fifth Third Bancorp now owns 1,444 shares of the business services provider's stock worth $144,000 after acquiring an additional 233 shares during the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

TD SYNNEX Stock Up 1.2 %

SNX stock traded up $1.50 during midday trading on Thursday, reaching $125.85. 801,327 shares of the company were exchanged, compared to its average volume of 914,736. The stock's 50-day simple moving average is $113.51 and its 200 day simple moving average is $105.78. TD SYNNEX Co. has a 1-year low of $87.68 and a 1-year high of $126.46. 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 company has a market cap of $11.21 billion, a price-to-earnings ratio of 18.28, a price-to-earnings-growth ratio of 1.14 and a beta of 1.59.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its quarterly earnings data on Tuesday, March 26th. The business services provider reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.12. TD SYNNEX had a net margin of 1.12% and a return on equity of 12.16%. The company had revenue of $13.98 billion during the quarter, compared to the consensus estimate of $14.37 billion. On average, equities analysts forecast that TD SYNNEX Co. will post 11.38 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend was Thursday, April 11th. TD SYNNEX's payout ratio is currently 23.22%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SNX. Barrington Research lifted their price objective on TD SYNNEX from $122.00 to $138.00 and gave the stock an "outperform" rating in a research report on Thursday, March 28th. Cfra boosted their price target on shares of TD SYNNEX from $110.00 to $113.00 and gave the company a "hold" rating in a research report on Tuesday, March 26th. UBS Group raised shares of TD SYNNEX from a "neutral" rating to a "buy" rating and upped their target price for the company from $115.00 to $145.00 in a research report on Tuesday, April 16th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $118.00 target price (up previously from $110.00) on shares of TD SYNNEX in a research report on Wednesday, March 27th. Finally, Barclays upped their target price on shares of TD SYNNEX from $111.00 to $118.00 and gave the company an "equal weight" rating in a research report on Wednesday, March 27th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $121.82.

Insider Transactions at TD SYNNEX

In other TD SYNNEX news, CEO Richard T. Hume sold 10,000 shares of TD SYNNEX stock in a transaction on Monday, March 4th. The shares were sold at an average price of $105.57, for a total value of $1,055,700.00. Following the transaction, the chief executive officer now directly owns 229,363 shares in the company, valued at $24,213,851.91. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Dennis Polk sold 20,000 shares of the business's stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the sale, the insider now owns 134,706 shares of the company's stock, valued at $15,908,778.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Richard T. Hume sold 10,000 shares of the business's 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 sale, the chief executive officer now directly owns 229,363 shares in the company, valued at approximately $24,213,851.91. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,000 shares of company stock worth $4,575,600. Insiders own 1.90% of the company's stock.

TD SYNNEX Company 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.