Nomura Holdings Inc. Purchases New Position in TD SYNNEX Co. (NYSE:SNX)

Nomura Holdings Inc. acquired a new stake in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 10,048 shares of the business services provider's stock, valued at approximately $1,178,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in TD SYNNEX in the 4th quarter worth about $121,199,000. Ninety One UK Ltd lifted its position in TD SYNNEX by 75.4% during 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 purchasing an additional 1,016,251 shares during the period. Nuveen Asset Management LLC boosted its holdings in 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 worth $141,913,000 after purchasing an additional 937,040 shares during the last quarter. JPMorgan Chase & Co. grew its position 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 worth $361,707,000 after purchasing an additional 813,634 shares during the period. Finally, LSV Asset Management raised its stake in TD SYNNEX by 46.9% during 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 buying an additional 547,692 shares during the last quarter. Institutional investors own 84.00% of the company's stock.

Insider Buying and Selling

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the firm'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 transaction of $2,717,600.00. Following the completion of the transaction, the director now owns 65,480 shares in the company, valued at $8,897,422.40. This trade represents a 23.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Miriam Anne Murphy sold 3,000 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, April 30th. The stock was 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 in the company, valued at approximately $1,637,130. The trade was a 16.78% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,510 shares of company stock worth $3,241,001. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

SNX has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their price target on TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. 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 research note on Friday, April 11th. Barrington Research reiterated an "outperform" rating and issued a $156.00 price objective on shares of TD SYNNEX in a research note on Friday, April 11th. The Goldman Sachs Group dropped their price objective 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. Finally, Barclays reduced their target price on shares of TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating for the company in a report 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. According to data from MarketBeat.com, TD SYNNEX currently has a consensus rating of "Moderate Buy" and an average target price of $137.22.

TD SYNNEX Price Performance

Shares of SNX traded up $0.81 during trading hours on Thursday, reaching $122.15. 615,262 shares of the stock traded hands, compared to its average volume of 740,544. TD SYNNEX Co. has a 52-week low of $92.23 and a 52-week 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 $10.25 billion, a P/E ratio of 15.35, a price-to-earnings-growth ratio of 1.06 and a beta of 1.33. The company's 50-day moving average price is $113.11 and its two-hundred day moving average price is $123.34.

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 for the quarter, missing analysts' consensus estimates of $2.87 by ($0.07). The business had revenue of $14.53 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the company earned $2.99 EPS. On average, analysts anticipate that TD SYNNEX Co. will post 11.88 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 11th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.44%. The ex-dividend date was Friday, April 11th. TD SYNNEX's dividend payout ratio (DPR) is presently 21.97%.

TD SYNNEX 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.