DME Capital Management LP Takes $6.31 Million Position in TD SYNNEX Co. (NYSE:SNX)

DME Capital Management LP bought a new position in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 53,780 shares of the business services provider's stock, valued at approximately $6,307,000. TD SYNNEX accounts for approximately 0.3% of DME Capital Management LP's investment portfolio, making the stock its 24th largest holding. DME Capital Management LP owned 0.06% of TD SYNNEX as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Bartlett & CO. Wealth Management LLC lifted its holdings in TD SYNNEX by 345.1% in 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 during the last quarter. Bessemer Group Inc. lifted its holdings in shares of TD SYNNEX by 174.7% in the 4th quarter. Bessemer Group Inc. now owns 239 shares of the business services provider's stock worth $28,000 after purchasing an additional 152 shares during the last quarter. UMB Bank n.a. boosted its position in TD SYNNEX by 48.4% during 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. Blue Trust Inc. grew its stake in TD SYNNEX by 37.7% during the 4th quarter. Blue Trust Inc. now owns 471 shares of the business services provider's stock worth $55,000 after buying an additional 129 shares during the last quarter. Finally, Global Retirement Partners LLC increased its position in TD SYNNEX by 31.9% in 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 period. 84.00% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the business'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 sale, the director now directly owns 65,480 shares of the company's stock, valued at $8,897,422.40. The trade was a 23.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Miriam Anne Murphy sold 3,000 shares of the firm's stock in a transaction 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 completion of the sale, the insider now directly owns 14,883 shares of the company's stock, valued at approximately $1,637,130. This trade represents a 16.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,510 shares of company stock worth $3,241,001 in the last three months. 1.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

SNX has been the subject of several recent research reports. Cfra lowered their price target on shares of TD SYNNEX from $147.00 to $132.00 and set a "buy" rating for the company in a research report on Friday, March 28th. The Goldman Sachs Group reduced 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 note on Friday, March 28th. Royal Bank of Canada dropped their price target on shares of TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Barclays reduced their price objective on TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating for the company in a research report on Friday, March 28th. Finally, UBS Group lowered their target price on TD SYNNEX from $150.00 to $138.00 and set a "buy" rating on the stock in a research report 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. According to data from MarketBeat, TD SYNNEX has an average rating of "Moderate Buy" and an average target price of $137.22.

TD SYNNEX Price Performance

Shares of SNX stock traded down $0.16 during mid-day trading on Friday, hitting $118.25. 442,027 shares of the stock traded hands, compared to its average volume of 747,003. 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 cap of $9.92 billion, a price-to-earnings ratio of 14.86, a price-to-earnings-growth ratio of 1.06 and a beta of 1.33. The company's 50-day simple moving average is $113.79 and its 200-day simple moving average is $123.11. TD SYNNEX Co. has a twelve month low of $92.23 and a twelve month high of $145.10.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its quarterly 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 during the quarter, compared to the consensus estimate of $14.79 billion. During the same quarter last year, the firm posted $2.99 earnings per share. TD SYNNEX's revenue was up 4.0% compared to the same quarter last year. As a group, equities research analysts expect that TD SYNNEX Co. will post 11.88 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 11th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.49%. The ex-dividend date was Friday, April 11th. TD SYNNEX's dividend payout ratio is presently 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.