TD SYNNEX Co. (NYSE:SNX) Stake Cut by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina cut its stake in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 12.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 33,137 shares of the business services provider's stock after selling 4,847 shares during the period. Treasurer of the State of North Carolina's holdings in TD SYNNEX were worth $3,886,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Proficio Capital Partners LLC acquired a new stake in TD SYNNEX during the 4th quarter worth $5,158,000. JPMorgan Chase & Co. boosted its position in TD SYNNEX by 37.0% during the third quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider's stock worth $361,707,000 after acquiring an additional 813,634 shares during the last quarter. Sei Investments Co. grew its stake in TD SYNNEX by 25.5% during the 4th quarter. Sei Investments Co. now owns 70,745 shares of the business services provider's stock valued at $8,297,000 after acquiring an additional 14,379 shares in the last quarter. IFP Advisors Inc lifted its stake in TD SYNNEX by 976.6% in the 4th quarter. IFP Advisors Inc now owns 1,012 shares of the business services provider's stock worth $119,000 after purchasing an additional 918 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of TD SYNNEX during the 4th quarter worth approximately $2,260,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

TD SYNNEX Stock Down 2.5 %

Shares of TD SYNNEX stock traded down $2.62 during trading on Monday, hitting $103.07. 42,009 shares of the stock were exchanged, compared to its average volume of 747,611. 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 moving average price is $122.38 and its 200 day moving average price is $124.00. The stock has a market cap of $8.65 billion, a price-to-earnings ratio of 12.96, a price-to-earnings-growth ratio of 1.06 and a beta of 1.36. TD SYNNEX Co. has a 12-month low of $92.23 and a 12-month high of $145.10.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its quarterly 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 company had revenue of $14.53 billion for 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%. TD SYNNEX's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.99 EPS. As a group, analysts forecast that TD SYNNEX Co. will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.76 annualized dividend and a yield of 1.71%. TD SYNNEX's dividend payout ratio (DPR) is currently 21.97%.

Insider Buying and Selling at TD SYNNEX

In related news, CEO Patrick Zammit sold 6,823 shares of the business's stock in a transaction that occurred 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 approximately $23,681,372. The trade was a 3.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Marshall Witt sold 1,510 shares of TD SYNNEX stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $128.08, for a total value of $193,400.80. Following the sale, the chief financial officer now directly owns 49,843 shares in the company, valued at approximately $6,383,891.44. The trade was a 2.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,333 shares of company stock valued at $3,886,690 over the last quarter. Corporate insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

SNX has been the subject of a number of analyst reports. UBS Group dropped their price objective 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. Royal Bank of Canada dropped their price target on shares of 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 reduced 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. Barrington Research reiterated an "outperform" rating and issued a $156.00 price objective on shares of TD SYNNEX in a research report on Friday, April 11th. Finally, Cfra reduced their target price on TD SYNNEX from $147.00 to $132.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, TD SYNNEX currently has an average rating of "Moderate Buy" and a consensus 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.