Wellington Management Group LLP Has $3.40 Million Stake in TD SYNNEX Co. (NYSE:SNX)

Wellington Management Group LLP reduced its position in shares of TD SYNNEX Co. (NYSE:SNX) by 5.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,018 shares of the business services provider’s stock after selling 1,826 shares during the period. Wellington Management Group LLP’s holdings in TD SYNNEX were worth $3,403,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SNX. Proficio Capital Partners LLC acquired a new stake in shares of TD SYNNEX during the fourth quarter worth $5,158,000. JPMorgan Chase & Co. grew its position in shares of TD SYNNEX by 37.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock worth $361,707,000 after purchasing an additional 813,634 shares in the last quarter. IFP Advisors Inc raised its position in shares of TD SYNNEX by 976.6% in the fourth quarter. IFP Advisors Inc now owns 1,012 shares of the business services provider’s stock valued at $119,000 after buying an additional 918 shares in the last quarter. Sei Investments Co. boosted its stake in shares of TD SYNNEX by 25.5% in the fourth quarter. Sei Investments Co. now owns 70,745 shares of the business services provider’s stock valued at $8,297,000 after buying an additional 14,379 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in shares of TD SYNNEX in the fourth quarter valued at approximately $2,260,000. 84.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SNX shares. Barclays reduced their target price on TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating on the stock in a report on Friday, March 28th. JPMorgan Chase & Co. decreased their target price on shares of TD SYNNEX from $125.00 to $120.00 and set a “neutral” rating on the stock in a report on Friday. 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. The Goldman Sachs Group lowered their price objective on shares of TD SYNNEX from $154.00 to $137.00 and set a “buy” rating for the company in a research report on Friday, March 28th. Finally, Barrington Research reiterated an “outperform” rating and issued a $156.00 price target on shares of TD SYNNEX in a research note on Friday, March 28th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, TD SYNNEX presently has an average rating of “Moderate Buy” and a consensus price target of $137.22.

Insider Transactions at TD SYNNEX

In other news, Director Ann F. Vezina sold 839 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was 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 of the company’s stock, valued at $660,804.48. The trade was a 14.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 value of $2,717,600.00. Following the sale, the director now directly owns 65,480 shares of the company’s stock, valued at $8,897,422.40. This represents a 23.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,172 shares of company stock worth $4,000,861 over the last three months. 1.00% of the stock is owned by company insiders.

TD SYNNEX Price Performance

TD SYNNEX stock opened at $101.83 on Friday. The stock has a 50-day moving average price of $126.24 and a two-hundred day moving average price of $124.42. TD SYNNEX Co. has a 12 month low of $92.23 and a 12 month high of $145.10. The company has a market capitalization of $8.59 billion, a PE ratio of 12.79, a P/E/G ratio of 1.06 and a beta of 1.36. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46.

TD SYNNEX (NYSE:SNX) last announced its earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.87 by ($0.07). The company had revenue of $14.53 billion for 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 revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.99 earnings per share. 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 1.73%. The ex-dividend date of this dividend is Friday, April 11th. TD SYNNEX’s dividend payout ratio is currently 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.