Millennium Management LLC increased its position in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 14.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 141,975 shares of the business services provider's stock after purchasing an additional 17,924 shares during the period. Millennium Management LLC owned approximately 0.17% of TD SYNNEX worth $16,651,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in SNX. Bartlett & CO. Wealth Management LLC boosted its position in TD SYNNEX by 345.1% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider's stock valued at $27,000 after buying an additional 176 shares during the period. Bessemer Group Inc. boosted its position in TD SYNNEX by 174.7% in the 4th quarter. Bessemer Group Inc. now owns 239 shares of the business services provider's stock valued at $28,000 after buying an additional 152 shares during the period. UMB Bank n.a. boosted its position in TD SYNNEX by 48.4% in the 4th quarter. UMB Bank n.a. now owns 429 shares of the business services provider's stock valued at $50,000 after buying an additional 140 shares during the period. Blue Trust Inc. boosted its position in TD SYNNEX by 37.7% in the 4th quarter. Blue Trust Inc. now owns 471 shares of the business services provider's stock valued at $55,000 after buying an additional 129 shares during the period. Finally, Global Retirement Partners LLC boosted its position in TD SYNNEX by 31.9% in the 4th quarter. Global Retirement Partners LLC now owns 480 shares of the business services provider's stock valued at $56,000 after buying an additional 116 shares during the period. 84.00% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on SNX shares. Barclays lowered their price objective on shares of TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating for the company in a research report on Friday, March 28th. The Goldman Sachs Group lowered their price objective on shares of TD SYNNEX from $154.00 to $137.00 and set a "buy" rating for the company in a research report on Friday, March 28th. JPMorgan Chase & Co. lowered their price objective on shares of TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Cfra reduced their price target on shares of TD SYNNEX from $147.00 to $132.00 and set a "buy" rating for the company in a report on Friday, March 28th. Finally, Royal Bank of Canada lowered their price target on shares of TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $137.22.
Check Out Our Latest Stock Report on TD SYNNEX
TD SYNNEX Stock Performance
Shares of SNX stock opened at $121.36 on Thursday. The firm has a market cap of $10.18 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 1.06 and a beta of 1.33. The company's 50 day moving average is $113.11 and its 200 day moving average is $123.34. 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 52-week low of $92.23 and a 52-week high of $145.10.
TD SYNNEX (NYSE:SNX - Get Free Report) last released 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). TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The firm had revenue of $14.53 billion during the quarter, compared to analysts' expectations of $14.79 billion. During the same period in the prior year, the firm posted $2.99 earnings per share. TD SYNNEX's revenue for the quarter was up 4.0% compared to the same quarter last year. On average, sell-side analysts anticipate that TD SYNNEX Co. will post 11.88 EPS for the current fiscal year.
TD SYNNEX Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Friday, April 11th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.45%. The ex-dividend date was Friday, April 11th. TD SYNNEX's dividend payout ratio is currently 21.97%.
Insiders Place Their Bets
In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of TD SYNNEX 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 transaction, the director now directly owns 65,480 shares of the company's stock, valued at approximately $8,897,422.40. The trade was a 23.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Miriam Anne Murphy sold 3,000 shares of the business's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $110.00, for a total transaction of $330,000.00. Following the sale, the insider now directly owns 14,883 shares in the company, valued at $1,637,130. This trade represents 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 valued at $3,241,001. 1.00% of the stock is currently owned by insiders.
TD SYNNEX Profile
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Free Report)
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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