TD SYNNEX Co. (NYSE:SNX) Shares Bought by Lind Value II ApS

Lind Value II ApS boosted its stake in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 17.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 708,645 shares of the business services provider's stock after purchasing an additional 106,157 shares during the quarter. TD SYNNEX comprises 32.7% of Lind Value II ApS's portfolio, making the stock its largest holding. Lind Value II ApS owned approximately 0.84% of TD SYNNEX worth $73,671,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of SNX. Norges Bank bought a new stake in TD SYNNEX during the 4th quarter valued at approximately $121,199,000. Ninety One UK Ltd boosted its position in shares of TD SYNNEX by 75.4% in 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 acquiring an additional 1,016,251 shares during the period. Nuveen Asset Management LLC boosted its position in shares of TD SYNNEX by 343.2% in the fourth quarter. Nuveen Asset Management LLC now owns 1,210,036 shares of the business services provider's stock valued at $141,913,000 after acquiring an additional 937,040 shares during the period. JPMorgan Chase & Co. boosted its holdings in TD SYNNEX by 37.0% in the 3rd 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 period. Finally, LSV Asset Management boosted its holdings in TD SYNNEX by 46.9% in the 4th quarter. LSV Asset Management now owns 1,715,847 shares of the business services provider's stock valued at $201,235,000 after purchasing an additional 547,692 shares during the period. 84.00% of the stock is owned by institutional investors.

TD SYNNEX Price Performance

Shares of SNX traded down $0.76 during mid-day trading on Friday, reaching $121.29. The company had a trading volume of 670,147 shares, compared to its average volume of 740,171. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. The company's 50-day moving average is $112.16 and its 200-day moving average is $123.41. TD SYNNEX Co. has a twelve month low of $92.23 and a twelve month high of $145.10. The company has a market capitalization of $10.18 billion, a P/E ratio of 15.24, a P/E/G ratio of 1.06 and a beta of 1.33.

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 (EPS) for the quarter, missing the consensus estimate of $2.87 by ($0.07). The company had revenue of $14.53 billion for the quarter, compared to analyst estimates of $14.79 billion. TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The business's revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.99 earnings per share. On average, equities analysts anticipate that TD SYNNEX Co. will post 11.88 EPS for the current year.

TD SYNNEX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 11th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend was Friday, April 11th. TD SYNNEX's payout ratio is 21.97%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SNX. Barrington Research reissued an "outperform" rating and issued a $156.00 price target on shares of TD SYNNEX in a report on Friday, April 11th. Cfra cut their price target on TD SYNNEX from $147.00 to $132.00 and set a "buy" rating for the company in a report on Friday, March 28th. Royal Bank of Canada cut their price target on TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Wall Street Zen cut TD SYNNEX from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Finally, Barclays cut their target price 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 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.com, TD SYNNEX presently has an average rating of "Moderate Buy" and a consensus price target of $137.22.

Insider Transactions at TD SYNNEX

In other news, 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 in the company, valued at approximately $6,383,891.44. This trade represents a 2.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard T. Hume sold 20,000 shares of the firm's stock in a transaction on 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 sale, the director now owns 65,480 shares of the company's stock, valued at approximately $8,897,422.40. This trade represents a 23.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,510 shares of company stock valued at $3,241,001. Corporate insiders own 1.00% of the company's stock.

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.