TD SYNNEX Co. (NYSE:SNX) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. reduced its position in shares of TD SYNNEX Co. (NYSE:SNX) by 7.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,126 shares of the business services provider’s stock after selling 183 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in TD SYNNEX were worth $249,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in SNX. Arizona State Retirement System raised its stake in shares of TD SYNNEX by 0.4% in the 4th quarter. Arizona State Retirement System now owns 22,225 shares of the business services provider’s stock valued at $2,607,000 after purchasing an additional 78 shares in the last quarter. Amundi raised its position in shares of TD SYNNEX by 22.3% during the 4th quarter. Amundi now owns 560 shares of the business services provider’s stock valued at $66,000 after acquiring an additional 102 shares in the last quarter. Highland Capital Management LLC lifted its stake in TD SYNNEX by 6.5% during the fourth quarter. Highland Capital Management LLC now owns 1,905 shares of the business services provider’s stock worth $223,000 after purchasing an additional 116 shares during the last quarter. Global Retirement Partners LLC lifted its position in shares of 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 buying an additional 116 shares during the last quarter. Finally, Meixler Investment Management Ltd. boosted its holdings in shares of TD SYNNEX by 2.0% in the 4th quarter. Meixler Investment Management Ltd. now owns 5,932 shares of the business services provider’s stock valued at $696,000 after buying an additional 118 shares during the period. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

TD SYNNEX Price Performance

Shares of NYSE SNX opened at $104.45 on Friday. The firm’s 50-day simple moving average is $135.67 and its 200 day simple moving average is $125.53. The stock has a market cap of $8.81 billion, a P/E ratio of 13.12, a P/E/G ratio of 1.06 and a beta of 1.51. 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 fifty-two week low of $98.00 and a fifty-two week high of $145.10.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.07). TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The company had revenue of $14.53 billion during the quarter, compared to analyst estimates of $14.79 billion. During the same period in the prior year, the company posted $2.99 earnings per share. The company’s revenue was up 4.0% on a year-over-year basis. Equities analysts expect that TD SYNNEX Co. will post 11.88 EPS for the current year.

TD SYNNEX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Friday, April 11th. TD SYNNEX’s dividend payout ratio is presently 22.11%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. UBS Group decreased their target price on TD SYNNEX from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Friday. The Goldman Sachs Group lowered their price objective on TD SYNNEX from $154.00 to $137.00 and set a “buy” rating for the company in a research note on Friday. Barrington Research reiterated an “outperform” rating and issued a $156.00 target price on shares of TD SYNNEX in a research note on Friday. Barclays lowered 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 research report on Friday. Finally, Royal Bank of Canada lifted their price objective on shares of TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $140.00.

Insider Activity

In other TD SYNNEX news, CFO Marshall Witt sold 1,510 shares of TD SYNNEX stock in a transaction that occurred on 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 directly 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 is accessible through this hyperlink. Also, Director Ann F. Vezina sold 839 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $136.08, for a total value of $114,171.12. Following the transaction, the director now directly owns 4,856 shares in the company, valued at $660,804.48. The trade was a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,172 shares of company stock worth $6,353,261 over the last 90 days. 1.00% of the stock is currently owned by company insiders.

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.