2,400 Shares in TD SYNNEX Co. (NYSE:SNX) Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board acquired a new position in 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. The institutional investor acquired 2,400 shares of the business services provider's stock, valued at approximately $281,000.

A number of other hedge funds have also added to or reduced their stakes in SNX. Norges Bank bought a new position in TD SYNNEX in the 4th quarter worth about $121,199,000. Ninety One UK Ltd boosted its stake in shares of 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 valued at $277,316,000 after purchasing an additional 1,016,251 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of TD SYNNEX by 37.0% during the third quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider's stock valued at $361,707,000 after purchasing an additional 813,634 shares in the last quarter. LSV Asset Management lifted its position in TD SYNNEX by 46.9% during the fourth quarter. LSV Asset Management now owns 1,715,847 shares of the business services provider's stock valued at $201,235,000 after acquiring an additional 547,692 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in TD SYNNEX during the fourth quarter valued at approximately $47,094,000. 84.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, CFO Marshall Witt sold 1,510 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $128.08, for a total value of $193,400.80. Following the sale, the chief financial officer now owns 49,843 shares of the company's stock, valued at $6,383,891.44. This trade represents a 2.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard T. Hume sold 20,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $135.88, for a total value of $2,717,600.00. Following the completion of the transaction, the director now owns 65,480 shares in the company, valued at approximately $8,897,422.40. The trade was a 23.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,333 shares of company stock valued at $3,886,690 in the last quarter. Corporate insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on SNX. Cfra decreased their target price 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. StockNews.com cut shares of TD SYNNEX from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. Barrington Research reissued an "outperform" rating and set a $156.00 target price on shares of TD SYNNEX in a research report on Friday, April 11th. Royal Bank of Canada decreased their target price on shares of TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Finally, JPMorgan Chase & Co. decreased their target price on shares of TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Three equities research 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 company presently has an average rating of "Moderate Buy" and a consensus price target of $137.22.

TD SYNNEX Price Performance

Shares of SNX traded down $1.02 during mid-day trading on Wednesday, hitting $110.05. 296,466 shares of the company were exchanged, compared to its average volume of 749,876. TD SYNNEX Co. has a 1-year low of $92.23 and a 1-year 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. The company has a 50 day moving average of $117.51 and a 200-day moving average of $123.44. The stock has a market cap of $9.24 billion, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 1.06 and a beta of 1.36.

TD SYNNEX (NYSE:SNX - Get Free Report) last announced its quarterly earnings data on Thursday, March 27th. The business services provider reported $2.80 EPS for the quarter, missing analysts' consensus estimates of $2.87 by ($0.07). The company had revenue of $14.53 billion for the quarter, compared to analysts' expectations of $14.79 billion. TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The business's quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.99 EPS. Analysts expect that TD SYNNEX Co. will post 11.88 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Friday, April 11th were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date was Friday, April 11th. TD SYNNEX's dividend payout ratio is currently 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.