Lazard Asset Management LLC Makes New $1.36 Million Investment in TD SYNNEX Co. (NYSE:SNX)

Lazard Asset Management LLC acquired a new position in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 11,558 shares of the business services provider's stock, valued at approximately $1,355,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Ionic Capital Management LLC increased its stake in TD SYNNEX by 6.3% during the 4th quarter. Ionic Capital Management LLC now owns 10,100 shares of the business services provider's stock worth $1,185,000 after acquiring an additional 600 shares during the period. Ellevest Inc. increased its stake in TD SYNNEX by 3.9% during the 4th quarter. Ellevest Inc. now owns 2,384 shares of the business services provider's stock worth $280,000 after acquiring an additional 90 shares during the period. Frontier Capital Management Co. LLC increased its stake in TD SYNNEX by 15.9% during the 4th quarter. Frontier Capital Management Co. LLC now owns 342,128 shares of the business services provider's stock worth $40,125,000 after acquiring an additional 47,017 shares during the period. Deutsche Bank AG increased its stake in TD SYNNEX by 276.3% during the 4th quarter. Deutsche Bank AG now owns 55,141 shares of the business services provider's stock worth $6,467,000 after acquiring an additional 40,489 shares during the period. Finally, DME Capital Management LP bought a new position in TD SYNNEX during the 4th quarter worth $6,307,000. Institutional investors own 84.00% of the company's stock.

Insider Buying and Selling

In related news, insider Miriam Anne Murphy sold 3,000 shares of the firm's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $110.00, for a total transaction of $330,000.00. Following the completion of the transaction, the insider now directly owns 14,883 shares of the company's stock, valued at $1,637,130. This trade represents a 16.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction, the director now directly owns 65,480 shares of the company's stock, valued at approximately $8,897,422.40. This represents a 23.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,510 shares of company stock valued at $3,241,001 in the last three months. Insiders own 1.00% of the company's stock.

TD SYNNEX Trading Up 1.0%

NYSE SNX opened at $125.14 on Monday. 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 Co. has a twelve month low of $92.23 and a twelve month high of $145.10. The company has a market cap of $10.50 billion, a price-to-earnings ratio of 15.72, a price-to-earnings-growth ratio of 1.06 and a beta of 1.33. The business's fifty day moving average is $113.32 and its 200 day moving average is $123.28.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its quarterly earnings data on Thursday, March 27th. The business services provider reported $2.80 earnings per share for the quarter, missing the consensus estimate of $2.87 by ($0.07). TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The firm had revenue of $14.53 billion for the quarter, compared to analyst estimates of $14.79 billion. During the same period last year, the business earned $2.99 EPS. The company's revenue was up 4.0% compared to the same quarter last year. As a group, sell-side 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. This represents a $1.76 annualized dividend and a yield of 1.41%. The ex-dividend date was Friday, April 11th. TD SYNNEX's dividend payout ratio is currently 21.97%.

Wall Street Analyst Weigh In

SNX has been the topic of a number of recent research reports. 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 target price on TD SYNNEX from $154.00 to $137.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Cfra reduced their target price on TD SYNNEX from $147.00 to $132.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Barrington Research reaffirmed an "outperform" rating and issued a $156.00 target price on shares of TD SYNNEX in a report on Friday, April 11th. Finally, Royal Bank of Canada reduced their target price on TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target 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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