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

Concentric Capital Strategies LP grew its holdings in TD SYNNEX Co. (NYSE:SNX - Free Report) by 37.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 120,080 shares of the business services provider's stock after acquiring an additional 32,965 shares during the quarter. TD SYNNEX accounts for approximately 0.6% of Concentric Capital Strategies LP's investment portfolio, making the stock its 23rd biggest position. Concentric Capital Strategies LP owned about 0.14% of TD SYNNEX worth $14,083,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new stake in shares of TD SYNNEX during the 3rd quarter worth $232,000. JPMorgan Chase & Co. raised its position in TD SYNNEX by 37.0% in 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 during the last quarter. GAMMA Investing LLC grew its holdings in shares of TD SYNNEX by 37.8% during the fourth quarter. GAMMA Investing LLC now owns 642 shares of the business services provider's stock worth $75,000 after purchasing an additional 176 shares during the last quarter. Fulton Bank N.A. increased its stake in shares of TD SYNNEX by 12.1% in the fourth quarter. Fulton Bank N.A. now owns 3,620 shares of the business services provider's stock valued at $425,000 after buying an additional 392 shares during the period. Finally, Benson Investment Management Company Inc. raised its holdings in TD SYNNEX by 0.6% in the 4th quarter. Benson Investment Management Company Inc. now owns 33,360 shares of the business services provider's stock valued at $3,912,000 after buying an additional 207 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company's stock.

Insider Buying and Selling

In other news, CFO Marshall Witt sold 1,510 shares of the business's 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 completion of the transaction, the chief financial officer now owns 49,843 shares of the company's stock, valued at $6,383,891.44. The trade was a 2.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,510 shares of company stock worth $3,241,001. Corporate insiders own 1.00% of the company's stock.

TD SYNNEX Stock Down 0.5 %

Shares of NYSE SNX opened at $114.14 on Wednesday. The firm's 50 day simple moving average is $114.84 and its two-hundred day simple moving average is $123.17. TD SYNNEX Co. has a one year low of $92.23 and a one year high of $145.10. The stock has a market capitalization of $9.58 billion, a P/E ratio of 14.34, a PEG ratio of 1.06 and a beta of 1.33. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued 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 business had revenue of $14.53 billion during the quarter, compared to the consensus estimate of $14.79 billion. TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The firm's revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.99 earnings per share. As a group, analysts expect that TD SYNNEX Co. will post 11.88 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Friday, April 11th were given a dividend of $0.44 per share. The ex-dividend date was Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.54%. TD SYNNEX's dividend payout ratio is 21.97%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. StockNews.com downgraded TD SYNNEX from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Royal Bank of Canada reduced their price objective 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. UBS Group cut 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. The Goldman Sachs Group cut their target price on shares of TD SYNNEX from $154.00 to $137.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Finally, 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 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. Based on data from MarketBeat.com, TD SYNNEX currently 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.

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