Northern Trust Corp Buys 116,571 Shares of TD SYNNEX Co. (NYSE:SNX)

Northern Trust Corp grew its position in shares of TD SYNNEX Co. (NYSE:SNX) by 21.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 649,981 shares of the business services provider’s stock after buying an additional 116,571 shares during the quarter. Northern Trust Corp’s holdings in TD SYNNEX were worth $76,230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Bartlett & CO. Wealth Management LLC increased its stake in shares of TD SYNNEX by 345.1% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock worth $27,000 after purchasing an additional 176 shares in the last quarter. Bessemer Group Inc. increased its position in TD SYNNEX by 174.7% in the fourth quarter. Bessemer Group Inc. now owns 239 shares of the business services provider’s stock worth $28,000 after buying an additional 152 shares in the last quarter. UMB Bank n.a. raised its stake in shares of TD SYNNEX by 48.4% in the fourth quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock worth $50,000 after buying an additional 140 shares during the period. Blue Trust Inc. grew its stake in shares of TD SYNNEX by 37.7% during the 4th quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock valued at $55,000 after acquiring an additional 129 shares during the period. Finally, Global Retirement Partners LLC increased its holdings in 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 acquiring an additional 116 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

Insider Transactions at TD SYNNEX

In other news, insider Miriam Anne Murphy sold 3,000 shares of TD SYNNEX stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $110.00, for a total value of $330,000.00. Following the sale, the insider now owns 14,883 shares in the company, valued at $1,637,130. This trade represents a 16.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Marshall Witt sold 1,510 shares of the company’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $128.08, for a total transaction of $193,400.80. Following the transaction, the chief financial officer now owns 49,843 shares of the company’s stock, valued at approximately $6,383,891.44. This trade represents a 2.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,510 shares of company stock valued at $3,241,001 in the last three months. 1.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SNX shares. 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 report on Friday, March 28th. Barclays dropped 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 report on Friday, March 28th. Royal Bank of Canada decreased their target price on TD SYNNEX from $165.00 to $145.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. Cfra cut 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, March 28th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $156.00 price objective on shares of TD SYNNEX in a report on Friday, April 11th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, TD SYNNEX has an average rating of “Moderate Buy” and an average price target of $137.22.

TD SYNNEX Stock Performance

Shares of SNX opened at $114.79 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. The stock has a 50-day moving average of $115.31 and a two-hundred day moving average of $123.23. The stock has a market cap of $9.63 billion, a P/E ratio of 14.42, a P/E/G ratio of 1.06 and a beta of 1.33. TD SYNNEX Co. has a one year low of $92.23 and a one year high of $145.10.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings data 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). TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The company had revenue of $14.53 billion during the quarter, compared to analyst estimates of $14.79 billion. During the same period last year, the firm earned $2.99 EPS. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. As a group, research analysts predict that TD SYNNEX Co. will post 11.88 EPS for the current year.

TD SYNNEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 11th were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Friday, April 11th. TD SYNNEX’s dividend payout ratio (DPR) is presently 21.97%.

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.