Raymond James Financial Inc. Purchases Shares of 401,552 TD SYNNEX Co. (NYSE:SNX)

Raymond James Financial Inc. bought a new stake in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 401,552 shares of the business services provider's stock, valued at approximately $47,094,000. Raymond James Financial Inc. owned 0.47% of TD SYNNEX as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bartlett & CO. Wealth Management LLC raised its holdings in shares of TD SYNNEX by 345.1% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider's stock valued at $27,000 after buying an additional 176 shares in the last quarter. UMB Bank n.a. lifted its holdings in TD SYNNEX by 48.4% in the fourth quarter. UMB Bank n.a. now owns 429 shares of the business services provider's stock valued at $50,000 after acquiring an additional 140 shares during the period. Blue Trust Inc. boosted its stake in shares of TD SYNNEX by 37.7% during the 4th quarter. Blue Trust Inc. now owns 471 shares of the business services provider's stock worth $55,000 after acquiring an additional 129 shares during the last quarter. Global Retirement Partners LLC increased its position in TD SYNNEX by 31.9% in the fourth 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 in the last quarter. Finally, Jones Financial Companies Lllp increased its stake in TD SYNNEX by 196.5% in the 4th quarter. Jones Financial Companies Lllp now owns 507 shares of the business services provider's stock worth $59,000 after buying an additional 336 shares in the last quarter. 84.00% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Richard T. Hume sold 20,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $135.88, for a total value of $2,717,600.00. Following the completion of the transaction, the director now directly owns 65,480 shares of the company's stock, valued at $8,897,422.40. This represents a 23.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Patrick Zammit sold 6,823 shares of TD SYNNEX stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $143.00, for a total transaction of $975,689.00. Following the sale, the chief executive officer now owns 165,604 shares in the company, valued at approximately $23,681,372. This represents a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,333 shares of company stock worth $3,886,690. Company insiders own 1.00% of the company's stock.

TD SYNNEX Stock Performance

NYSE:SNX traded up $1.47 during trading on Friday, reaching $105.67. The company's stock had a trading volume of 1,050,677 shares, compared to its average volume of 750,421. TD SYNNEX Co. has a 12 month low of $92.23 and a 12 month high of $145.10. The firm has a 50 day moving average of $122.38 and a 200-day moving average of $124.00. The firm has a market cap of $8.87 billion, a price-to-earnings ratio of 13.27, a price-to-earnings-growth ratio of 1.06 and a beta of 1.36. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24.

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

TD SYNNEX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be paid a dividend of $0.44 per share. The ex-dividend date is Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.67%. TD SYNNEX's dividend payout ratio (DPR) is 21.97%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. StockNews.com lowered TD SYNNEX from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. JPMorgan Chase & Co. cut their price objective on TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Royal Bank of Canada cut their price target on TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating for the company in a report on Friday, April 11th. The Goldman Sachs Group dropped their price target on shares of TD SYNNEX from $154.00 to $137.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Finally, Barclays dropped their price objective on TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating for the company in a research note on Friday, March 28th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $137.22.

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.