TD SYNNEX Co. (NYSE:SNX) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. decreased its holdings in TD SYNNEX Co. (NYSE:SNX) by 58.7% in the fourth quarter, Holdings Channel reports. The fund owned 52,469 shares of the business services provider’s stock after selling 74,480 shares during the period. Franklin Resources Inc.’s holdings in TD SYNNEX were worth $6,154,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Bartlett & CO. Wealth Management LLC raised its holdings in TD SYNNEX by 345.1% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 176 shares during the last quarter. UMB Bank n.a. raised its holdings in TD SYNNEX by 48.4% in the 4th quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock valued at $50,000 after acquiring an additional 140 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of 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 buying an additional 129 shares during the last quarter. Global Retirement Partners LLC increased its holdings in shares of TD SYNNEX by 31.9% during the 4th 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. Finally, Jones Financial Companies Lllp increased its holdings in shares of TD SYNNEX by 196.5% during the 4th quarter. Jones Financial Companies Lllp now owns 507 shares of the business services provider’s stock worth $59,000 after buying an additional 336 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Analyst Upgrades and Downgrades

SNX has been the subject of a number of recent analyst reports. StockNews.com downgraded shares of TD SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. JPMorgan Chase & Co. cut their price target on shares of TD SYNNEX from $150.00 to $125.00 and set a “neutral” rating for the company in a report on Friday, March 28th. Cfra cut their price target on shares of TD SYNNEX from $147.00 to $132.00 and set a “buy” rating for the company in a report on Friday, March 28th. Barclays cut their price target on shares of 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, Barrington Research reiterated an “outperform” rating and issued a $156.00 target price on shares of TD SYNNEX 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $140.00.

Insider Buying and Selling at TD SYNNEX

In other news, Director Ann F. Vezina sold 839 shares of TD SYNNEX stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $136.08, for a total transaction of $114,171.12. Following the completion of the sale, the director now directly owns 4,856 shares of the company’s stock, valued at approximately $660,804.48. The trade was a 14.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Marshall Witt sold 1,510 shares of TD SYNNEX stock in a transaction 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 sale, the chief financial officer now directly owns 49,843 shares of the company’s stock, valued at approximately $6,383,891.44. This trade represents a 2.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,172 shares of company stock valued at $4,000,861 in the last 90 days. Company insiders own 1.00% of the company’s stock.

TD SYNNEX Stock Performance

Shares of SNX stock opened at $107.23 on Thursday. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. TD SYNNEX Co. has a 52 week low of $92.23 and a 52 week high of $145.10. The stock has a market capitalization of $9.05 billion, a PE ratio of 13.47, a P/E/G ratio of 1.06 and a beta of 1.36. The firm has a 50 day moving average of $127.75 and a two-hundred day moving average of $124.64.

TD SYNNEX (NYSE:SNX) last issued 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). 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 during the quarter, compared to analysts’ expectations of $14.79 billion. During the same period in the prior year, the business earned $2.99 EPS. The business’s quarterly revenue was up 4.0% on a year-over-year basis. On average, research analysts predict that TD SYNNEX Co. will post 11.88 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be given a $0.44 dividend. The ex-dividend date is Friday, April 11th. This represents a $1.76 annualized dividend and a yield of 1.64%. TD SYNNEX’s dividend payout ratio is presently 21.97%.

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.