NBC Securities Inc. Increases Stock Position in TD SYNNEX Co. (NYSE:SNX)

NBC Securities Inc. increased its stake in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 137,750.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,757 shares of the business services provider's stock after purchasing an additional 2,755 shares during the period. NBC Securities Inc.'s holdings in TD SYNNEX were worth $286,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SNX. JPMorgan Chase & Co. raised its stake in TD SYNNEX by 37.0% during 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 buying an additional 813,634 shares during the last quarter. Blue Trust Inc. increased its position in TD SYNNEX by 119.0% during the fourth quarter. Blue Trust Inc. now owns 749 shares of the business services provider's stock valued at $90,000 after acquiring an additional 407 shares during the last quarter. GHP Investment Advisors Inc. lifted its holdings in TD SYNNEX by 5.4% in the fourth quarter. GHP Investment Advisors Inc. now owns 15,075 shares of the business services provider's stock valued at $1,768,000 after acquiring an additional 771 shares during the period. Wilmington Savings Fund Society FSB boosted its position in TD SYNNEX by 11.0% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 2,141 shares of the business services provider's stock worth $251,000 after purchasing an additional 212 shares during the last quarter. Finally, Empowered Funds LLC purchased a new position in TD SYNNEX in the fourth quarter worth about $7,780,000. Institutional investors own 84.00% of the company's stock.

Analyst Ratings Changes

SNX has been the topic of several recent research reports. Barclays lowered their price objective on shares of TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating on the stock in a research note on Friday, March 28th. Royal Bank of Canada decreased their price target on shares of TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. JPMorgan Chase & Co. cut 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. Barrington Research restated an "outperform" rating and issued a $156.00 price objective on shares of TD SYNNEX in a research note on Friday, April 11th. Finally, Cfra lowered their target price on TD SYNNEX from $147.00 to $132.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, TD SYNNEX currently has an average rating of "Moderate Buy" and an average target price of $137.22.

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 on Wednesday, April 30th. The shares were sold at an average price of $110.00, for a total value of $330,000.00. Following the sale, the insider now owns 14,883 shares in the company, valued at $1,637,130. The trade was a 16.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Marshall Witt sold 1,510 shares of the business's stock in a transaction dated 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 owns 49,843 shares in the company, valued at $6,383,891.44. This 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 insiders.

TD SYNNEX Stock Up 1.8%

SNX opened at $123.52 on Friday. The stock has a market cap of $10.37 billion, a price-to-earnings ratio of 15.52, a price-to-earnings-growth ratio of 1.06 and a beta of 1.29. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. The firm's fifty day moving average is $113.45 and its 200 day moving average is $123.64. TD SYNNEX Co. has a fifty-two week low of $92.23 and a fifty-two week high of $145.10.

TD SYNNEX (NYSE:SNX - Get Free Report) last announced 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). TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The business had revenue of $14.53 billion during the quarter, compared to analysts' expectations of $14.79 billion. During the same quarter in the previous year, the firm earned $2.99 earnings per share. TD SYNNEX's revenue was up 4.0% on a year-over-year basis. On average, sell-side analysts forecast that TD SYNNEX Co. will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Friday, April 11th were issued a $0.44 dividend. The ex-dividend date was Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a yield of 1.42%. TD SYNNEX's dividend payout ratio is presently 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.

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