Deutsche Bank AG Increases Stock Position in TD SYNNEX Co. (NYSE:SNX)

Deutsche Bank AG lifted its position in TD SYNNEX Co. (NYSE:SNX - Free Report) by 276.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,141 shares of the business services provider's stock after buying an additional 40,489 shares during the quarter. Deutsche Bank AG owned approximately 0.07% of TD SYNNEX worth $6,467,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of SNX. Bartlett & CO. Wealth Management LLC increased its position in shares of 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 purchasing an additional 176 shares during the last quarter. Bessemer Group Inc. grew its position in TD SYNNEX by 174.7% during the fourth quarter. Bessemer Group Inc. now owns 239 shares of the business services provider's stock valued at $28,000 after acquiring an additional 152 shares during the last quarter. UMB Bank n.a. grew its position in TD SYNNEX by 48.4% during the fourth quarter. UMB Bank n.a. now owns 429 shares of the business services provider's stock valued at $50,000 after acquiring an additional 140 shares during the last quarter. Blue Trust Inc. grew its position in TD SYNNEX by 37.7% during the fourth quarter. Blue Trust Inc. now owns 471 shares of the business services provider's stock valued at $55,000 after acquiring an additional 129 shares during the last quarter. Finally, Global Retirement Partners LLC grew its position in TD SYNNEX by 31.9% during the fourth quarter. Global Retirement Partners LLC now owns 480 shares of the business services provider's stock valued at $56,000 after acquiring an additional 116 shares during the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

TD SYNNEX Trading Down 0.6%

Shares of TD SYNNEX stock traded down $0.78 on Friday, hitting $121.53. The stock had a trading volume of 398,895 shares, compared to its average volume of 739,997. The stock's 50-day simple moving average is $112.83 and its two-hundred day simple moving average is $123.40. TD SYNNEX Co. has a one year low of $92.23 and a one year high of $145.10. The stock has a market cap of $10.20 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 1.06 and a beta of 1.33. 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 announced its quarterly earnings results 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). 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 analysts' expectations of $14.79 billion. During the same period in the previous year, the business earned $2.99 EPS. The business's revenue was up 4.0% compared to the same quarter last year. As a group, sell-side analysts predict that TD SYNNEX Co. will post 11.88 EPS for the current year.

TD SYNNEX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Friday, April 11th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date was Friday, April 11th. TD SYNNEX's payout ratio is 21.97%.

Wall Street Analyst Weigh In

A number of brokerages have commented on SNX. UBS Group reduced their price target on shares of TD SYNNEX from $150.00 to $138.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. 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. 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 report on Friday, March 28th. Barrington Research restated an "outperform" rating and issued a $156.00 target price on shares of TD SYNNEX in a report on Friday, April 11th. Finally, Wall Street Zen cut shares of TD SYNNEX from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Three 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, the company presently has a consensus rating of "Moderate Buy" and a consensus 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 value of $2,717,600.00. Following the completion of the sale, the director now owns 65,480 shares of the company's stock, valued at $8,897,422.40. This trade represents a 23.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Marshall Witt sold 1,510 shares of the firm's stock in a transaction 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 sale, the chief financial officer now directly 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 disclosure for this sale can be found here. Insiders sold 24,510 shares of company stock valued at $3,241,001 over the last quarter. 1.00% of the stock is owned by company insiders.

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.