TD SYNNEX Co. (NYSE:SNX) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC trimmed its position in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 16.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,054,467 shares of the business services provider's stock after selling 205,059 shares during the quarter. AQR Capital Management LLC owned approximately 1.25% of TD SYNNEX worth $123,278,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Northern Trust Corp grew its holdings in shares of TD SYNNEX by 21.9% during the fourth quarter. Northern Trust Corp now owns 649,981 shares of the business services provider's stock worth $76,230,000 after buying an additional 116,571 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in TD SYNNEX during the fourth quarter worth about $9,690,000. Lord Abbett & CO. LLC grew its stake in TD SYNNEX by 3.0% during the 4th quarter. Lord Abbett & CO. LLC now owns 849,944 shares of the business services provider's stock valued at $99,681,000 after acquiring an additional 24,476 shares in the last quarter. Pinebridge Investments L.P. raised its holdings in TD SYNNEX by 40.2% in the 4th quarter. Pinebridge Investments L.P. now owns 19,058 shares of the business services provider's stock valued at $2,235,000 after acquiring an additional 5,464 shares during the last quarter. Finally, IHT Wealth Management LLC purchased a new position in TD SYNNEX in the 4th quarter worth approximately $205,000. 84.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other TD SYNNEX news, insider Miriam Anne Murphy sold 3,000 shares of the stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $110.00, for a total value of $330,000.00. Following the sale, the insider now owns 14,883 shares of the company's stock, valued at $1,637,130. This trade represents a 16.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard T. Hume sold 20,000 shares of the business's stock in a transaction dated 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 transaction, the director now directly owns 65,480 shares of the company's stock, valued at approximately $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 quarter, insiders sold 24,510 shares of company stock valued at $3,241,001. 1.00% of the stock is currently owned by company insiders.

TD SYNNEX Trading Up 0.8 %

Shares of NYSE:SNX traded up $0.96 during mid-day trading on Monday, reaching $115.40. 126,210 shares of the company were exchanged, compared to its average volume of 745,093. 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 firm's 50-day simple moving average is $115.81 and its 200 day simple moving average is $123.28. The firm has a market cap of $9.68 billion, a price-to-earnings ratio of 14.49, a P/E/G ratio of 1.06 and a beta of 1.33.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its quarterly earnings data on Thursday, March 27th. The business services provider reported $2.80 earnings per share for the quarter, missing analysts' consensus estimates of $2.87 by ($0.07). TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The firm had revenue of $14.53 billion during the quarter, compared to analyst estimates of $14.79 billion. During the same period in the previous year, the firm posted $2.99 earnings per share. The company's quarterly revenue was up 4.0% compared to the same quarter last year. Equities research analysts forecast that TD SYNNEX Co. will post 11.88 EPS for the current year.

TD SYNNEX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 11th were given a dividend of $0.44 per share. The ex-dividend date was Friday, April 11th. This represents a $1.76 annualized dividend and a dividend yield of 1.53%. TD SYNNEX's dividend payout ratio is presently 21.97%.

Analyst Ratings Changes

Several equities research analysts recently commented on SNX shares. StockNews.com cut TD SYNNEX from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Royal Bank of Canada cut 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. The Goldman Sachs Group lowered their price target on shares of TD SYNNEX from $154.00 to $137.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. UBS Group cut their price objective on shares of TD SYNNEX from $150.00 to $138.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Finally, Barclays decreased their target price on shares of TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating on the stock in a report on Friday, March 28th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, TD SYNNEX currently has an average rating of "Moderate Buy" and a consensus price target of $137.22.

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.