Concentric Capital Strategies LP Acquires 32,965 Shares of TD SYNNEX Co. (NYSE:SNX)

Concentric Capital Strategies LP boosted its position in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 37.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 120,080 shares of the business services provider's stock after buying an additional 32,965 shares during the period. TD SYNNEX makes up about 0.6% of Concentric Capital Strategies LP's portfolio, making the stock its 23rd biggest holding. Concentric Capital Strategies LP owned about 0.14% of TD SYNNEX worth $14,083,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SNX. Arizona State Retirement System raised its stake in TD SYNNEX by 0.4% in the 4th quarter. Arizona State Retirement System now owns 22,225 shares of the business services provider's stock worth $2,607,000 after acquiring an additional 78 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in TD SYNNEX by 9.2% in the 4th quarter. Quadrant Capital Group LLC now owns 1,068 shares of the business services provider's stock valued at $125,000 after purchasing an additional 90 shares in the last quarter. Utah Retirement Systems increased its stake in shares of TD SYNNEX by 2.5% in the 4th quarter. Utah Retirement Systems now owns 4,100 shares of the business services provider's stock worth $481,000 after acquiring an additional 100 shares during the last quarter. Amundi boosted its holdings in TD SYNNEX by 22.3% in the 4th quarter. Amundi now owns 560 shares of the business services provider's stock valued at $66,000 after purchasing an additional 102 shares during the last quarter. Finally, Highland Capital Management LLC grew its holdings in shares of TD SYNNEX by 6.5% during the 4th quarter. Highland Capital Management LLC now owns 1,905 shares of the business services provider's stock worth $223,000 after purchasing an additional 116 shares during the period. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Royal Bank of Canada decreased their price target on shares of TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. StockNews.com lowered TD SYNNEX from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. The Goldman Sachs Group reduced their price target on shares of TD SYNNEX from $154.00 to $137.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Barrington Research restated an "outperform" rating and set a $156.00 price objective on shares of TD SYNNEX in a research note on Friday, April 11th. Finally, JPMorgan Chase & Co. reduced their price target on shares of TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $137.22.

Insider Buying and Selling

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

TD SYNNEX Stock Up 4.0%

NYSE:SNX traded up $4.66 during trading hours on Monday, hitting $122.59. 166,579 shares of the company's stock traded hands, compared to its average volume of 744,712. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. TD SYNNEX Co. has a twelve month low of $92.23 and a twelve month high of $145.10. The stock's fifty day moving average price is $113.79 and its two-hundred day moving average price is $123.12. The firm has a market cap of $10.29 billion, a P/E ratio of 15.39, a P/E/G ratio of 1.06 and a beta of 1.33.

TD SYNNEX (NYSE:SNX - Get Free Report) last announced its quarterly earnings results 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). The firm had revenue of $14.53 billion for the quarter, compared to analyst estimates of $14.79 billion. TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The firm's quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.99 earnings per share. On average, research analysts expect that TD SYNNEX Co. will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend was Friday, April 11th. TD SYNNEX's dividend payout ratio 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.