TD SYNNEX Co. (NYSE:SNX) Shares Sold by Legal & General Group Plc

Legal & General Group Plc cut its holdings in shares of TD SYNNEX Co. (NYSE:SNX) by 5.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (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 approximately 0.21% of TD SYNNEX worth $21,297,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in SNX. Proficio Capital Partners LLC acquired a new stake in shares of TD SYNNEX during the 4th quarter valued at $5,158,000. JPMorgan Chase & Co. lifted its holdings in shares of 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 valued at $361,707,000 after purchasing an additional 813,634 shares during the last quarter. IFP Advisors Inc boosted its position in shares of TD SYNNEX by 976.6% in the 4th quarter. IFP Advisors Inc now owns 1,012 shares of the business services provider’s stock valued at $119,000 after purchasing an additional 918 shares during the period. Sei Investments Co. increased its stake in TD SYNNEX by 25.5% in the 4th quarter. Sei Investments Co. now owns 70,745 shares of the business services provider’s stock worth $8,297,000 after purchasing an additional 14,379 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in TD SYNNEX during the 4th quarter worth about $2,260,000. 84.00% of the stock is currently owned by institutional investors.

TD SYNNEX Stock Down 0.0 %

Shares of TD SYNNEX stock opened at $101.83 on Monday. The firm has a market cap of $8.55 billion, a price-to-earnings ratio of 12.79, a P/E/G ratio of 1.06 and a beta of 1.36. The stock has a 50-day simple moving average of $126.24 and a 200-day simple moving average of $124.46. TD SYNNEX Co. has a 52-week low of $92.23 and a 52-week 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.

TD SYNNEX (NYSE:SNX) last posted its 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 business had revenue of $14.53 billion during the quarter, compared to the consensus estimate of $14.79 billion. TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The business’s revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.99 earnings per share. On average, equities research analysts expect that TD SYNNEX Co. will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The business 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 1.73%. TD SYNNEX’s dividend payout ratio (DPR) is currently 21.97%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SNX shares. The Goldman Sachs Group dropped their target price 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 lowered their price objective on shares of TD SYNNEX from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Royal Bank of Canada decreased their target price on TD SYNNEX from $165.00 to $145.00 and set an “outperform” rating for the company in a research report on Friday. Cfra lowered 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, StockNews.com downgraded TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, TD SYNNEX has an average rating of “Moderate Buy” and a consensus price target of $137.22.

Insiders Place Their Bets

In related news, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were 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 in the company, valued at approximately $8,897,422.40. This trade represents a 23.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Ann F. Vezina sold 839 shares of the business’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $136.08, for a total transaction of $114,171.12. Following the transaction, the director now directly owns 4,856 shares of the company’s stock, valued at approximately $660,804.48. This represents a 14.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,172 shares of company stock valued at $4,000,861 over the last quarter. Insiders own 1.00% of the company’s stock.

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.