Legal & General Group Plc Trims Stake in TD SYNNEX Co. (NYSE:SNX)

Legal & General Group Plc trimmed its position in TD SYNNEX Co. (NYSE:SNX - Free Report) by 5.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 181,594 shares of the business services provider's stock after selling 10,567 shares during the period. Legal & General Group Plc owned 0.21% of TD SYNNEX worth $21,297,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bartlett & CO. Wealth Management LLC boosted its position in 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 worth $27,000 after buying an additional 176 shares during the period. UMB Bank n.a. increased 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 purchasing an additional 140 shares during the period. Blue Trust Inc. raised its position in 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 purchasing an additional 129 shares during the last quarter. Global Retirement Partners LLC grew its position 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 buying an additional 116 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its position in shares of TD SYNNEX by 196.5% during the fourth quarter. Jones Financial Companies Lllp now owns 507 shares of the business services provider's stock worth $59,000 after acquiring an additional 336 shares during the last quarter. Institutional investors own 84.00% of the company's stock.

Insider Buying and Selling

In other news, CEO Patrick Zammit sold 6,823 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $143.00, for a total transaction of $975,689.00. Following the transaction, the chief executive officer now directly owns 165,604 shares of the company's stock, valued at $23,681,372. This represents a 3.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard T. Hume sold 20,000 shares of the firm's stock in a transaction 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 owns 65,480 shares in the company, valued at approximately $8,897,422.40. This trade 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 have sold 28,333 shares of company stock worth $3,886,690. 1.00% of the stock is owned by insiders.

TD SYNNEX Trading Up 1.4 %

Shares of NYSE:SNX traded up $1.47 during midday trading on Friday, hitting $105.67. 1,050,677 shares of the stock traded hands, compared to its average volume of 750,916. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. The business's 50 day moving average is $123.13 and its two-hundred day moving average is $123.96. The stock has a market capitalization of $8.87 billion, a PE ratio of 13.27, a P/E/G ratio of 1.06 and a beta of 1.36. TD SYNNEX Co. has a one year low of $92.23 and a one year high of $145.10.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its earnings results 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 firm had revenue of $14.53 billion during the quarter, compared to analysts' expectations of $14.79 billion. TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The firm's quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the firm posted $2.99 earnings per share. As a group, research analysts forecast that TD SYNNEX Co. will post 11.88 earnings per share for the current year.

TD SYNNEX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be given 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 yield of 1.67%. TD SYNNEX's dividend payout ratio (DPR) is 21.97%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SNX shares. UBS Group dropped their price objective on TD SYNNEX from $150.00 to $138.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. JPMorgan Chase & Co. dropped their target price on shares of TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. The Goldman Sachs Group dropped their price objective 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. Cfra cut their price target on TD SYNNEX from $147.00 to $132.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Finally, Barclays decreased their price objective on TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating for the company in a report on Friday, March 28th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.