Millennium Management LLC Grows Position in TD SYNNEX Co. (NYSE:SNX)

Millennium Management LLC boosted its position in TD SYNNEX Co. (NYSE:SNX - Free Report) by 14.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 141,975 shares of the business services provider's stock after acquiring an additional 17,924 shares during the period. Millennium Management LLC owned 0.17% of TD SYNNEX worth $16,651,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SNX. Bartlett & CO. Wealth Management LLC grew its holdings in TD SYNNEX by 345.1% during 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 in the last quarter. Bessemer Group Inc. grew its holdings in TD SYNNEX by 174.7% during 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 in the last quarter. UMB Bank n.a. grew its holdings in TD SYNNEX by 48.4% during 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 in the last quarter. Blue Trust Inc. grew its holdings in TD SYNNEX by 37.7% during 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 in the last quarter. Finally, Global Retirement Partners LLC grew its holdings in TD SYNNEX by 31.9% during 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 in the last quarter. 84.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Barclays reduced their target price on TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating for the company in a report on Friday, March 28th. UBS Group reduced their target price on TD SYNNEX from $150.00 to $138.00 and set a "buy" rating for the company in a report on Friday, March 28th. JPMorgan Chase & Co. reduced their target price on TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Royal Bank of Canada reduced their target price on TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Finally, Wall Street Zen lowered TD SYNNEX from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $137.22.

Insiders Place Their Bets

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the company's stock in a transaction that occurred 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 represents a 23.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Marshall Witt sold 1,510 shares of the company's stock in a transaction that occurred 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 approximately $6,383,891.44. This represents a 2.94% decrease in their position. 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 over the last quarter. 1.00% of the stock is owned by corporate insiders.

TD SYNNEX Price Performance

Shares of NYSE SNX traded up $3.42 during midday trading on Tuesday, hitting $124.85. 466,425 shares of the company's stock were exchanged, compared to its average volume of 739,977. TD SYNNEX Co. has a 12-month low of $92.23 and a 12-month high of $145.10. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. The company has a market cap of $10.48 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 1.06 and a beta of 1.33. The business's fifty day moving average price is $112.53 and its two-hundred day moving average price is $123.37.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its quarterly earnings data on Thursday, March 27th. The business services provider reported $2.80 EPS for the quarter, missing the consensus estimate of $2.87 by ($0.07). The business had revenue of $14.53 billion for the quarter, compared to analysts' expectations of $14.79 billion. TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The firm's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.99 EPS. As a group, research analysts forecast that TD SYNNEX Co. will post 11.88 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Friday, April 11th were paid a $0.44 dividend. 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%.

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.