Point72 Hong Kong Ltd Has $490,000 Stock Position in TD SYNNEX Co. (NYSE:SNX)

Point72 Hong Kong Ltd lowered its holdings in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 84.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,182 shares of the business services provider's stock after selling 22,411 shares during the quarter. Point72 Hong Kong Ltd's holdings in TD SYNNEX were worth $490,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of SNX. Bartlett & CO. Wealth Management LLC raised 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 valued at $27,000 after purchasing an additional 176 shares in the last quarter. Bessemer Group Inc. grew its stake in TD SYNNEX by 174.7% during the 4th quarter. Bessemer Group Inc. now owns 239 shares of the business services provider's stock valued at $28,000 after purchasing an additional 152 shares during the last quarter. UMB Bank n.a. grew its stake in TD SYNNEX by 48.4% during the 4th 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 last quarter. Blue Trust Inc. grew its stake in 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 purchasing an additional 129 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its stake in shares of 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 during the last quarter. Hedge funds and other institutional investors own 84.00% of the company's stock.

Insider Activity

In related news, CFO Marshall Witt sold 1,510 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $128.08, for a total transaction of $193,400.80. Following the completion of the sale, the chief financial officer now directly owns 49,843 shares of the company's stock, valued at approximately $6,383,891.44. This represents a 2.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard T. Hume sold 20,000 shares of the company's 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 transaction, the director now directly owns 65,480 shares of the company's stock, valued at approximately $8,897,422.40. This trade represents a 23.40% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,510 shares of company stock worth $3,241,001. Corporate insiders own 1.00% of the company's stock.

TD SYNNEX Stock Up 0.3%

SNX traded up $0.33 during midday trading on Thursday, hitting $121.67. 153,563 shares of the company's stock traded hands, compared to its average volume of 738,817. The stock's fifty day simple moving average is $113.11 and its 200-day simple moving average is $123.34. TD SYNNEX Co. has a one year low of $92.23 and a one year high of $145.10. The company has a market cap of $10.21 billion, a PE ratio of 15.29, a price-to-earnings-growth ratio of 1.06 and a beta of 1.33. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76.

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 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 business had revenue of $14.53 billion for the quarter, compared to the consensus estimate of $14.79 billion. During the same quarter in the prior year, the business posted $2.99 EPS. The firm's revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, equities analysts anticipate that TD SYNNEX Co. will post 11.88 earnings per share 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 paid a $0.44 dividend. The ex-dividend date of this dividend was Friday, April 11th. This represents a $1.76 annualized dividend and a dividend yield of 1.45%. TD SYNNEX's dividend payout ratio is presently 21.97%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. The Goldman Sachs Group reduced their price target on TD SYNNEX from $154.00 to $137.00 and set a "buy" rating for the company in a report on Friday, March 28th. Cfra lowered their price objective on TD SYNNEX from $147.00 to $132.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Barrington Research restated an "outperform" rating and set a $156.00 price target on shares of TD SYNNEX in a research report on Friday, April 11th. 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 report on Friday, March 28th. Finally, UBS Group reduced their price objective on TD SYNNEX from $150.00 to $138.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Three 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, the stock currently has an average rating of "Moderate Buy" and an average price target of $137.22.

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.