Rhumbline Advisers Trims Holdings in TD SYNNEX Co. (NYSE:SNX)

Rhumbline Advisers trimmed its position in TD SYNNEX Co. (NYSE:SNX) by 0.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 211,824 shares of the business services provider’s stock after selling 729 shares during the quarter. Rhumbline Advisers owned about 0.25% of TD SYNNEX worth $22,021,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. boosted its stake in TD SYNNEX by 174.7% in the 4th quarter. Bessemer Group Inc. now owns 239 shares of the business services provider’s stock worth $28,000 after purchasing an additional 152 shares during the period. Versant Capital Management Inc boosted its stake in TD SYNNEX by 115.1% in the 1st quarter. Versant Capital Management Inc now owns 342 shares of the business services provider’s stock worth $36,000 after purchasing an additional 183 shares during the period. Blue Trust Inc. boosted its stake in TD SYNNEX by 37.7% in the 4th 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 period. Global Retirement Partners LLC boosted its stake in TD SYNNEX by 31.9% in the 4th quarter. Global Retirement Partners LLC now owns 480 shares of the business services provider’s stock worth $56,000 after purchasing an additional 116 shares during the period. Finally, Jones Financial Companies Lllp boosted its stake in TD SYNNEX by 196.5% in the 4th quarter. Jones Financial Companies Lllp now owns 507 shares of the business services provider’s stock worth $59,000 after purchasing an additional 336 shares during the period. 84.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. The Goldman Sachs Group dropped their price target on TD SYNNEX from $154.00 to $137.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Cfra dropped their price target on TD SYNNEX from $147.00 to $132.00 and set a “buy” rating for the company in a research note on Friday, March 28th. UBS Group dropped their price target on TD SYNNEX from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Friday, March 28th. JPMorgan Chase & Co. lowered their target price on TD SYNNEX from $125.00 to $120.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Finally, Royal Bank of Canada lowered 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, April 11th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $137.22.

TD SYNNEX Stock Up 1.8%

NYSE SNX opened at $123.52 on Friday. The company has a market capitalization of $10.37 billion, a P/E ratio of 15.52, a P/E/G ratio of 1.06 and a beta of 1.29. The stock has a 50 day moving average price of $113.45 and a 200-day moving average price of $123.58. TD SYNNEX Co. has a one year low of $92.23 and a one year high of $145.10. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings results 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 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 firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.99 earnings per share. As a group, 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 declared a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Friday, April 11th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend was Friday, April 11th. TD SYNNEX’s dividend payout ratio is presently 21.97%.

Insider Buying and Selling

In related news, insider Miriam Anne Murphy sold 3,000 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $110.00, for a total transaction of $330,000.00. Following the completion of the transaction, the insider now directly owns 14,883 shares in the company, valued at approximately $1,637,130. This trade represents a 16.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Marshall Witt sold 1,510 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total value 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 $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. Corporate insiders own 1.00% of the company’s stock.

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.