River Road Asset Management LLC Cuts Stock Holdings in TD SYNNEX Co. (NYSE:SNX)

River Road Asset Management LLC lowered its stake in TD SYNNEX Co. (NYSE:SNX) by 7.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,160,486 shares of the business services provider’s stock after selling 92,219 shares during the quarter. TD SYNNEX accounts for 1.7% of River Road Asset Management LLC’s portfolio, making the stock its 12th largest position. River Road Asset Management LLC owned about 1.30% of TD SYNNEX worth $124,880,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SNX. Nomura Asset Management Co. Ltd. boosted its holdings in TD SYNNEX by 95.2% in the first quarter. Nomura Asset Management Co. Ltd. now owns 410 shares of the business services provider’s stock worth $40,000 after purchasing an additional 200 shares during the last quarter. Advisors Asset Management Inc. purchased a new stake in TD SYNNEX in the first quarter worth approximately $51,000. Covestor Ltd boosted its holdings in TD SYNNEX by 91.5% in the first quarter. Covestor Ltd now owns 697 shares of the business services provider’s stock worth $72,000 after purchasing an additional 333 shares during the last quarter. Gladius Capital Management LP boosted its stake in shares of TD SYNNEX by 50.8% during the 3rd quarter. Gladius Capital Management LP now owns 742 shares of the business services provider’s stock worth $74,000 after acquiring an additional 250 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in shares of TD SYNNEX by 28.9% during the 3rd quarter. Signaturefd LLC now owns 954 shares of the business services provider’s stock worth $95,000 after acquiring an additional 214 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

TD SYNNEX Trading Up 1.7 %

Shares of SNX stock traded up $1.92 during trading hours on Wednesday, reaching $114.94. 1,460,277 shares of the stock were exchanged, compared to its average volume of 973,674. TD SYNNEX Co. has a 12-month low of $86.30 and a 12-month high of $119.87. The company has a current ratio of 1.22, a quick ratio of 0.75 and a debt-to-equity ratio of 0.38. The company’s 50-day moving average price is $106.73 and its 200-day moving average price is $102.35. The firm has a market capitalization of $10.24 billion, a price-to-earnings ratio of 16.40, a price-to-earnings-growth ratio of 1.05 and a beta of 1.64.

TD SYNNEX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.39%. TD SYNNEX’s dividend payout ratio is presently 23.22%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. UBS Group upgraded shares of TD SYNNEX from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $115.00 to $145.00 in a research note on Tuesday. JPMorgan Chase & Co. raised their price objective on shares of TD SYNNEX from $113.00 to $126.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. Barclays raised their price objective on shares of TD SYNNEX from $111.00 to $118.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 27th. Bank of America raised their price objective on shares of TD SYNNEX from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Finally, Cfra raised their price objective on shares of TD SYNNEX from $110.00 to $113.00 and gave the company a “hold” rating in a research report on Tuesday, March 26th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $121.82.

Insider Buying and Selling

In other TD SYNNEX news, insider Dennis Polk sold 20,000 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $118.10, for a total value of $2,362,000.00. Following the completion of the sale, the insider now directly owns 134,706 shares of the company’s stock, valued at approximately $15,908,778.60. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Richard T. Hume sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $105.57, for a total transaction of $1,055,700.00. Following the completion of the transaction, the chief executive officer now owns 229,363 shares in the company, valued at approximately $24,213,851.91. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Dennis Polk sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the transaction, the insider now owns 134,706 shares of the company’s stock, valued at approximately $15,908,778.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,355 shares of company stock valued at $4,930,385. Company insiders own 1.90% of the company’s stock.

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.