TD SYNNEX Co. (NYSE:SNX) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. cut its position in TD SYNNEX Co. (NYSE:SNX) by 11.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 278,188 shares of the business services provider’s stock after selling 35,977 shares during the period. Federated Hermes Inc.’s holdings in TD SYNNEX were worth $32,626,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Bartlett & CO. Wealth Management LLC increased 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 worth $27,000 after buying an additional 176 shares during the period. UMB Bank n.a. boosted its holdings in shares of 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. Point72 DIFC Ltd acquired a new stake in shares of TD SYNNEX in the third quarter worth $55,000. Blue Trust Inc. raised its holdings in shares of TD SYNNEX by 37.7% during the fourth quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock worth $55,000 after purchasing an additional 129 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its position in TD SYNNEX by 31.9% during the fourth quarter. Global Retirement Partners LLC now owns 480 shares of the business services provider’s stock valued at $56,000 after purchasing an additional 116 shares during the period. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at TD SYNNEX

In related news, CFO Marshall Witt sold 1,510 shares of the company’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 completion of the sale, the chief financial officer now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard T. Hume sold 20,000 shares of the firm’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 transaction of $2,717,600.00. Following the completion of the transaction, the director now directly owns 65,480 shares in the company, valued at $8,897,422.40. This trade represents a 23.40 % 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 over the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SNX. JPMorgan Chase & Co. reduced their price objective on TD SYNNEX from $150.00 to $125.00 and set a “neutral” rating for the company in a research note on Friday, March 28th. Cfra decreased their price target on TD SYNNEX from $147.00 to $132.00 and set a “buy” rating for the company in a report on Friday, March 28th. StockNews.com cut shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Barclays lowered their price target on shares of TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating on the stock in a report on Friday, March 28th. Finally, UBS Group cut 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. 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.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $140.00.

TD SYNNEX Stock Up 2.7 %

Shares of NYSE SNX opened at $98.38 on Tuesday. TD SYNNEX Co. has a 52-week low of $92.23 and a 52-week high of $145.10. 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 company’s 50-day simple moving average is $130.92 and its 200-day simple moving average is $125.18. The firm has a market cap of $8.30 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 1.06 and a beta of 1.36.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings data 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 firm 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 quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.99 earnings per share. Equities analysts predict that TD SYNNEX Co. will post 11.88 EPS 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 paid a dividend of $0.44 per share. The ex-dividend date is Friday, April 11th. This represents a $1.76 annualized dividend and a yield of 1.79%. TD SYNNEX’s dividend payout ratio (DPR) is presently 21.97%.

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.