Price T Rowe Associates Inc. MD Sells 79,656 Shares of TD SYNNEX Co. (NYSE:SNX)

Price T Rowe Associates Inc. MD cut its holdings in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 50.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 77,055 shares of the business services provider's stock after selling 79,656 shares during the period. Price T Rowe Associates Inc. MD owned 0.09% of TD SYNNEX worth $9,038,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank bought a new stake in shares of TD SYNNEX in the fourth quarter worth approximately $121,199,000. Ninety One UK Ltd increased its holdings in TD SYNNEX by 75.4% in the 4th 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. boosted its position 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 purchasing an additional 813,634 shares during the period. LSV Asset Management increased its stake in shares of 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 worth $201,235,000 after purchasing an additional 547,692 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of TD SYNNEX during the 4th quarter valued at $47,094,000. Institutional investors own 84.00% of the company's stock.

Insider Buying and Selling

In related news, CFO Marshall Witt sold 1,510 shares of the firm's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total value of $193,400.80. Following the transaction, the chief financial officer now owns 49,843 shares of the company's stock, valued at $6,383,891.44. This trade represents a 2.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Miriam Anne Murphy sold 3,000 shares of the business's 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 directly owns 14,883 shares of the company's stock, valued at approximately $1,637,130. This trade represents a 16.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,510 shares of company stock valued at $3,241,001. Company insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Barrington Research reiterated an "outperform" rating and issued a $156.00 price target on shares of TD SYNNEX in a research note on Friday, April 11th. JPMorgan Chase & Co. decreased their target price on TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. The Goldman Sachs Group dropped their price target on TD SYNNEX from $154.00 to $137.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Cfra reduced their price objective on shares of TD SYNNEX from $147.00 to $132.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Finally, Barclays dropped their target price on shares of 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. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, TD SYNNEX presently has an average rating of "Moderate Buy" and an average target price of $137.22.

TD SYNNEX Price Performance

Shares of NYSE SNX traded up $1.32 during mid-day trading on Wednesday, hitting $115.51. 650,857 shares of the company's stock traded hands, compared to its average volume of 745,850. The company has a market capitalization of $9.69 billion, a P/E ratio of 14.51, a PEG ratio of 1.06 and a beta of 1.33. TD SYNNEX Co. has a 1 year low of $92.23 and a 1 year high of $145.10. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. The company's 50-day moving average is $114.84 and its two-hundred day moving average is $123.17.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $14.53 billion during the quarter, compared to the consensus estimate of $14.79 billion. TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. TD SYNNEX's revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.99 earnings per share. On average, equities analysts anticipate that TD SYNNEX Co. will post 11.88 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 11th were issued a $0.44 dividend. The ex-dividend date was Friday, April 11th. This represents a $1.76 annualized dividend and a dividend yield of 1.52%. TD SYNNEX's dividend payout ratio (DPR) is presently 21.97%.

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.