Merit Financial Group LLC Invests $215,000 in TD SYNNEX Co. (NYSE:SNX)

Merit Financial Group LLC purchased a new stake in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,067 shares of the business services provider's stock, valued at approximately $215,000.

Several other institutional investors and hedge funds also recently made changes to their positions in SNX. Norges Bank bought a new stake in shares of TD SYNNEX during the fourth quarter valued at approximately $121,199,000. Nuveen Asset Management LLC increased its position in shares of TD SYNNEX by 343.2% during 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 in the last quarter. LSV Asset Management boosted its holdings in TD SYNNEX by 46.9% in the fourth quarter. LSV Asset Management now owns 1,715,847 shares of the business services provider's stock worth $201,235,000 after purchasing an additional 547,692 shares during the last quarter. Brave Warrior Advisors LLC boosted its holdings in TD SYNNEX by 12.2% in the fourth quarter. Brave Warrior Advisors LLC now owns 4,147,172 shares of the business services provider's stock worth $486,380,000 after purchasing an additional 451,557 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in TD SYNNEX in the fourth quarter worth approximately $47,094,000. Institutional investors own 84.00% of the company's stock.

Insider Buying and Selling

In other TD SYNNEX news, insider Miriam Anne Murphy sold 3,000 shares of the business's 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 $1,637,130. The trade was a 16.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Marshall Witt sold 1,510 shares of the business's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total transaction 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 approximately $6,383,891.44. This trade represents a 2.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SNX. Wall Street Zen cut shares of TD SYNNEX from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Barclays dropped their target price on shares of TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating on the stock in a report on Friday, March 28th. UBS Group dropped their target price on shares of TD SYNNEX from $150.00 to $138.00 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, The Goldman Sachs Group dropped 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. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $138.00.

TD SYNNEX Price Performance

Shares of TD SYNNEX stock traded up $1.80 during trading hours on Monday, reaching $125.14. The company's stock had a trading volume of 533,874 shares, compared to its average volume of 735,371. The firm has a 50 day moving average price of $116.61 and a 200-day moving average price of $123.92. TD SYNNEX Co. has a one year low of $92.23 and a one year high of $145.10. 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 stock has a market cap of $10.50 billion, a P/E ratio of 15.72, a P/E/G ratio of 1.06 and a beta of 1.29.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted its earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share 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 the consensus estimate of $14.79 billion. During the same quarter last year, the firm earned $2.99 earnings per share. The business's quarterly revenue was up 4.0% on a year-over-year basis. On average, analysts predict that TD SYNNEX Co. will post 11.88 EPS for the current year.

TD SYNNEX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Friday, April 11th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.41%. 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.