Sterling Capital Management LLC Sells 7,540 Shares of TD SYNNEX Co. (NYSE:SNX)

Sterling Capital Management LLC lowered its position in TD SYNNEX Co. (NYSE:SNX - Free Report) by 50.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,387 shares of the business services provider's stock after selling 7,540 shares during the quarter. Sterling Capital Management LLC's holdings in TD SYNNEX were worth $866,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Bartlett & CO. Wealth Management LLC lifted its stake in shares of TD SYNNEX by 345.1% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider's stock valued at $27,000 after purchasing an additional 176 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of TD SYNNEX by 174.7% in the fourth quarter. Bessemer Group Inc. now owns 239 shares of the business services provider's stock worth $28,000 after buying an additional 152 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of TD SYNNEX by 48.4% during the 4th quarter. UMB Bank n.a. now owns 429 shares of the business services provider's stock worth $50,000 after acquiring an additional 140 shares in the last quarter. Blue Trust Inc. increased its holdings 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 valued at $55,000 after acquiring an additional 129 shares during the last quarter. Finally, Global Retirement Partners LLC raised its stake in shares of TD SYNNEX by 31.9% in the 4th quarter. Global Retirement Partners LLC now owns 480 shares of the business services provider's stock valued at $56,000 after acquiring an additional 116 shares in the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Barclays decreased their target price on 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. The Goldman Sachs Group dropped their target price on shares of TD SYNNEX from $154.00 to $137.00 and set a "buy" rating on the stock in a report on Friday, March 28th. UBS Group decreased their price target on shares of TD SYNNEX from $150.00 to $138.00 and set a "buy" rating for the company in a report on Friday, March 28th. Cfra dropped their price objective on TD SYNNEX from $147.00 to $132.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Finally, Royal Bank of Canada decreased their target price on TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, TD SYNNEX presently has a consensus rating of "Moderate Buy" and a consensus price target of $137.22.

TD SYNNEX Stock Performance

Shares of SNX stock traded up $2.77 during mid-day trading on Tuesday, reaching $105.82. The stock had a trading volume of 875,466 shares, compared to its average volume of 751,432. TD SYNNEX Co. has a one year low of $92.23 and a one year high of $145.10. The firm has a market cap of $8.88 billion, a PE ratio of 13.29, a P/E/G ratio of 1.06 and a beta of 1.36. The firm's 50 day simple moving average is $120.89 and its 200 day simple moving average is $123.77. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its earnings results on Thursday, March 27th. The business services provider reported $2.80 EPS for the quarter, missing the consensus estimate of $2.87 by ($0.07). The firm 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%. The firm's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the business earned $2.99 earnings per share. On average, analysts forecast that TD SYNNEX Co. will post 11.88 EPS for the current year.

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Friday, April 11th. TD SYNNEX's dividend payout ratio is 21.97%.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, CFO Marshall Witt sold 1,510 shares of the business'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 directly owns 49,843 shares in the company, valued at $6,383,891.44. The trade was a 2.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard T. Hume sold 20,000 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $135.88, for a total transaction of $2,717,600.00. Following the sale, the director now directly owns 65,480 shares in the company, valued at $8,897,422.40. This represents a 23.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,333 shares of company stock valued at $3,886,690. 1.00% of the stock is currently owned by corporate insiders.

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.