Bridgewater Associates LP Purchases 106,245 Shares of TD SYNNEX Co. (NYSE:SNX)

Bridgewater Associates LP boosted its holdings in TD SYNNEX Co. (NYSE:SNX - Free Report) by 137.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 183,751 shares of the business services provider's stock after acquiring an additional 106,245 shares during the quarter. Bridgewater Associates LP owned 0.22% of TD SYNNEX worth $21,550,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. XTX Topco Ltd bought a new stake in shares of TD SYNNEX during the third quarter valued at about $219,000. M&T Bank Corp increased its stake in TD SYNNEX by 13.5% during the 3rd quarter. M&T Bank Corp now owns 2,188 shares of the business services provider's stock valued at $263,000 after buying an additional 261 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of TD SYNNEX in the 3rd quarter worth approximately $232,000. Tidal Investments LLC increased its stake in shares of TD SYNNEX by 9.3% during the third quarter. Tidal Investments LLC now owns 17,121 shares of the business services provider's stock valued at $2,056,000 after acquiring an additional 1,450 shares during the period. Finally, Brass Tax Wealth Management Inc. acquired a new stake in TD SYNNEX in the third quarter worth approximately $203,000. Institutional investors own 84.00% of the company's stock.

Insider Activity

In other TD SYNNEX news, CEO Patrick Zammit sold 6,823 shares of TD SYNNEX stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $143.00, for a total transaction of $975,689.00. Following the sale, the chief executive officer now directly owns 165,604 shares of the company's stock, valued at approximately $23,681,372. The trade was a 3.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Marshall Witt sold 1,510 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $128.08, for a total value of $193,400.80. Following the completion of the transaction, the chief financial officer now directly owns 49,843 shares of the company's stock, valued at approximately $6,383,891.44. The trade was a 2.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,333 shares of company stock worth $3,886,690. Corporate insiders own 1.00% of the company's stock.

TD SYNNEX Stock Down 2.8 %

Shares of SNX traded down $2.94 during midday trading on Monday, reaching $102.75. 49,181 shares of the stock were exchanged, compared to its average volume of 747,656. The company has a market cap of $8.62 billion, a price-to-earnings ratio of 12.91, a P/E/G ratio of 1.06 and a beta of 1.36. The firm has a 50 day simple moving average of $122.38 and a 200-day simple moving average of $124.00. TD SYNNEX Co. has a 12-month low of $92.23 and a 12-month high of $145.10. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46.

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 during the quarter, compared to the consensus estimate of $14.79 billion. During the same period in the prior year, the firm earned $2.99 earnings per share. The business's revenue was up 4.0% on a year-over-year basis. Research analysts forecast 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 will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date is Friday, April 11th. TD SYNNEX's dividend payout ratio is 21.97%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. The Goldman Sachs Group dropped their price objective on TD SYNNEX from $154.00 to $137.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. UBS Group cut their price target 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 lowered their price objective on shares of TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating on the stock in a research note on Friday, March 28th. Barrington Research reaffirmed an "outperform" rating and issued a $156.00 price target on shares of TD SYNNEX in a report on Friday, April 11th. Finally, Cfra decreased their price objective on shares of TD SYNNEX from $147.00 to $132.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $137.22.

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.