Prudential Financial Inc. Sells 367,836 Shares of TD SYNNEX Co. (NYSE:SNX)

Prudential Financial Inc. lowered its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 90.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,191 shares of the business services provider’s stock after selling 367,836 shares during the period. Prudential Financial Inc.’s holdings in TD SYNNEX were worth $4,596,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Bartlett & CO. Wealth Management LLC raised its position in TD SYNNEX by 345.1% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock worth $27,000 after acquiring an additional 176 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of TD SYNNEX by 48.4% in the 4th quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock valued at $50,000 after purchasing an additional 140 shares during the period. Point72 DIFC Ltd acquired a new stake in TD SYNNEX in the 3rd quarter valued at about $55,000. Blue Trust Inc. grew its holdings in TD SYNNEX by 37.7% during the fourth 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. Finally, Global Retirement Partners LLC increased its position in TD SYNNEX by 31.9% during the fourth 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. Institutional investors and hedge funds own 84.00% of the company’s stock.

TD SYNNEX Stock Down 0.5 %

Shares of NYSE SNX opened at $104.13 on Tuesday. The stock has a market capitalization of $8.79 billion, a P/E ratio of 13.08, a PEG ratio of 1.06 and a beta of 1.51. The stock’s fifty day moving average is $135.01 and its 200 day moving average is $125.70. TD SYNNEX Co. has a 52 week low of $98.00 and a 52 week 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 earnings results on Thursday, March 27th. The business services provider reported $2.80 EPS for the quarter, missing the consensus estimate of $2.87 by ($0.07). The firm had revenue of $14.53 billion during the quarter, compared to analyst estimates of $14.79 billion. TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. TD SYNNEX’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.99 earnings per share. Sell-side analysts forecast that TD SYNNEX Co. will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be issued 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 dividend yield of 1.69%. TD SYNNEX’s dividend payout ratio (DPR) is currently 22.11%.

Analysts Set New Price Targets

SNX has been the subject of a number of research reports. Royal Bank of Canada raised their target price on shares of TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. UBS Group cut their price objective on shares of TD SYNNEX from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Friday. Barrington Research reaffirmed an “outperform” rating and issued a $156.00 target price on shares of TD SYNNEX in a research report on Friday. Cfra dropped their price target on TD SYNNEX from $147.00 to $132.00 and set a “buy” rating for the company in a report on Friday. Finally, The Goldman Sachs Group decreased their price objective on TD SYNNEX from $154.00 to $137.00 and set a “buy” rating on the stock in a report on Friday. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $140.00.

Insider Buying and Selling

In other news, CFO Marshall Witt sold 1,510 shares of the company’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 49,843 shares in the company, valued at approximately $6,383,891.44. This represents a 2.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ann F. Vezina sold 839 shares of the firm’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 sale, the director now directly owns 4,856 shares in the company, valued at approximately $660,804.48. This trade represents a 14.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,172 shares of company stock worth $6,353,261 in the last ninety days. 1.00% of the stock is owned by insiders.

About TD SYNNEX

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.