The Manufacturers Life Insurance Company Has $7.27 Million Holdings in TD SYNNEX Co. (NYSE:SNX)

The Manufacturers Life Insurance Company trimmed its stake in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 9.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,949 shares of the business services provider's stock after selling 6,340 shares during the period. The Manufacturers Life Insurance Company owned about 0.07% of TD SYNNEX worth $7,265,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC purchased a new stake in shares of TD SYNNEX in the fourth quarter valued at approximately $9,690,000. Lord Abbett & CO. LLC boosted its position in shares of TD SYNNEX by 3.0% during the fourth quarter. Lord Abbett & CO. LLC now owns 849,944 shares of the business services provider's stock worth $99,681,000 after buying an additional 24,476 shares during the period. Pinebridge Investments L.P. grew its stake in shares of TD SYNNEX by 40.2% in the fourth quarter. Pinebridge Investments L.P. now owns 19,058 shares of the business services provider's stock valued at $2,235,000 after buying an additional 5,464 shares in the last quarter. IHT Wealth Management LLC acquired a new stake in shares of TD SYNNEX during the fourth quarter worth about $205,000. Finally, Stifel Financial Corp boosted its stake in shares of TD SYNNEX by 44.0% in the 4th quarter. Stifel Financial Corp now owns 24,788 shares of the business services provider's stock valued at $2,907,000 after buying an additional 7,580 shares during the period. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other 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 transaction of $193,400.80. Following the transaction, the chief financial officer now owns 49,843 shares in the company, valued at approximately $6,383,891.44. The trade was a 2.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Miriam Anne Murphy sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $110.00, for a total value of $330,000.00. Following the completion of the transaction, the insider now directly owns 14,883 shares of the company's stock, valued at approximately $1,637,130. This trade represents a 16.78% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders 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 3.5%

Shares of NYSE SNX traded up $4.15 during trading on Monday, reaching $122.08. 66,309 shares of the stock were exchanged, compared to its average volume of 744,360. 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 price is $113.79 and its 200 day moving average price is $123.12. The company has a market capitalization of $10.25 billion, a price-to-earnings ratio of 15.32, a price-to-earnings-growth ratio of 1.06 and a beta of 1.33. TD SYNNEX Co. has a twelve month low of $92.23 and a twelve month high of $145.10.

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

TD SYNNEX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Friday, April 11th were issued a $0.44 dividend. The ex-dividend date was Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a yield of 1.44%. TD SYNNEX's dividend payout ratio is currently 21.97%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Barrington Research restated an "outperform" rating and set a $156.00 price objective on shares of TD SYNNEX in a research report on Friday, April 11th. Royal Bank of Canada decreased their price objective 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. 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. StockNews.com downgraded TD SYNNEX from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. cut their price target on TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently 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.