Algert Global LLC purchased a new stake in TD SYNNEX Co. (NYSE:SNX - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,585 shares of the business services provider's stock, valued at approximately $1,828,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of TD SYNNEX by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 7,685,224 shares of the business services provider's stock valued at $901,323,000 after purchasing an additional 29,659 shares during the last quarter. FMR LLC grew its position in shares of TD SYNNEX by 3.2% during the 4th quarter. FMR LLC now owns 7,663,179 shares of the business services provider's stock worth $898,738,000 after buying an additional 237,587 shares during the period. JPMorgan Chase & Co. increased its holdings in TD SYNNEX by 10.7% during the fourth quarter. JPMorgan Chase & Co. now owns 3,335,501 shares of the business services provider's stock worth $391,188,000 after buying an additional 323,282 shares during the last quarter. Ninety One UK Ltd boosted its position in TD SYNNEX by 75.4% during the fourth quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider's stock worth $277,316,000 after purchasing an additional 1,016,251 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in TD SYNNEX by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,266,614 shares of the business services provider's stock worth $265,826,000 after acquiring an additional 31,404 shares during the period. 84.00% of the stock is currently owned by hedge funds and other institutional investors.
TD SYNNEX Stock Performance
Shares of NYSE SNX traded down $0.31 during trading hours on Thursday, reaching $124.23. 108,594 shares of the stock were exchanged, compared to its average volume of 742,772. TD SYNNEX Co. has a 52 week low of $92.23 and a 52 week high of $145.10. The stock's fifty day simple moving average is $113.42 and its 200 day simple moving average is $123.16. 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 firm has a market capitalization of $10.43 billion, a price-to-earnings ratio of 15.57, a P/E/G ratio of 1.06 and a beta of 1.33.
TD SYNNEX (NYSE:SNX - Get Free Report) last posted 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). TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The business had revenue of $14.53 billion for the quarter, compared to analysts' expectations of $14.79 billion. During the same quarter in the previous year, the firm earned $2.99 earnings per share. TD SYNNEX's quarterly revenue was up 4.0% compared to the same quarter last year. Sell-side analysts predict that TD SYNNEX Co. will post 11.88 EPS for the current year.
TD SYNNEX Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Friday, April 11th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend was Friday, April 11th. TD SYNNEX's dividend payout ratio (DPR) is 21.97%.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on SNX shares. UBS Group decreased their target price on TD SYNNEX from $150.00 to $138.00 and set a "buy" rating for the company in a research report on Friday, March 28th. StockNews.com downgraded shares of TD SYNNEX from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. The Goldman Sachs Group cut their target price 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. Royal Bank of Canada cut their price target on TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Finally, 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 research note on Friday, March 28th. Three investment analysts have rated the stock with a hold rating and seven have issued 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.
Check Out Our Latest Analysis on SNX
Insider Buying and Selling
In related news, insider Miriam Anne Murphy sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The stock was 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 represents a 16.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Richard T. Hume sold 20,000 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $135.88, for a total transaction of $2,717,600.00. Following the completion of the transaction, the director now directly owns 65,480 shares in the company, valued at approximately $8,897,422.40. This represents a 23.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,510 shares of company stock worth $3,241,001 in the last three months. Corporate insiders own 1.00% of the company's stock.
About TD SYNNEX
(
Free Report)
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.
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