AIA Group Ltd Sells 414 Shares of TD SYNNEX Co. (NYSE:SNX)

AIA Group Ltd lessened its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 5.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,882 shares of the business services provider’s stock after selling 414 shares during the period. AIA Group Ltd’s holdings in TD SYNNEX were worth $924,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. O Shaughnessy Asset Management LLC raised its stake in shares of TD SYNNEX by 7.6% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 9,888 shares of the business services provider’s stock worth $1,160,000 after purchasing an additional 700 shares in the last quarter. Brandywine Global Investment Management LLC increased its stake in shares of TD SYNNEX by 83.5% during the 4th quarter. Brandywine Global Investment Management LLC now owns 104,845 shares of the business services provider’s stock worth $12,296,000 after purchasing an additional 47,712 shares during the last quarter. California Public Employees Retirement System raised its holdings in shares of TD SYNNEX by 1.6% in the 4th quarter. California Public Employees Retirement System now owns 357,709 shares of the business services provider’s stock valued at $41,952,000 after purchasing an additional 5,673 shares during the period. Pictet Asset Management Holding SA lifted its stake in TD SYNNEX by 9.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 11,667 shares of the business services provider’s stock valued at $1,368,000 after purchasing an additional 1,026 shares during the last quarter. Finally, New Age Alpha Advisors LLC bought a new position in TD SYNNEX during the fourth quarter worth about $79,000. 84.00% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Barclays reduced their price objective 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. UBS Group dropped 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. Barrington Research reaffirmed an “outperform” rating and set a $156.00 target price on shares of TD SYNNEX in a report on Friday. Finally, JPMorgan Chase & Co. lowered their price target on shares of TD SYNNEX from $150.00 to $125.00 and set a “neutral” rating on the stock in a report on Friday. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, TD SYNNEX presently has an average rating of “Moderate Buy” and an average target price of $140.00.

TD SYNNEX Stock Performance

Shares of NYSE:SNX opened at $104.13 on Tuesday. TD SYNNEX Co. has a 12-month low of $98.00 and a 12-month high of $145.10. The company’s 50 day moving average price is $135.01 and its two-hundred day moving average price is $125.70. The firm has a market cap of $8.79 billion, a PE ratio of 13.08, a PEG 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 (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 for the quarter, compared to analyst estimates of $14.79 billion. TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.99 EPS. Equities research analysts predict that TD SYNNEX Co. will post 11.88 earnings per share for the current year.

TD SYNNEX Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 1.69%. TD SYNNEX’s payout ratio is 22.11%.

Insider Buying and Selling at TD SYNNEX

In other news, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $117.62, for a total value of $2,352,400.00. Following the transaction, the director now owns 111,080 shares in the company, valued at approximately $13,065,229.60. This trade represents a 15.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Patrick Zammit sold 6,823 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $143.00, for a total value of $975,689.00. Following the sale, the chief executive officer now owns 165,604 shares of the company’s stock, valued at approximately $23,681,372. This represents a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,172 shares of company stock valued at $6,353,261 in the last ninety 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.