GAMMA Investing LLC Raises Stake in TD SYNNEX Co. (NYSE:SNX)

GAMMA Investing LLC raised its holdings in TD SYNNEX Co. (NYSE:SNX - Free Report) by 12,044.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 77,970 shares of the business services provider's stock after acquiring an additional 77,328 shares during the period. GAMMA Investing LLC owned approximately 0.09% of TD SYNNEX worth $8,106,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Versant Capital Management Inc grew its stake in shares of TD SYNNEX by 115.1% in the 1st quarter. Versant Capital Management Inc now owns 342 shares of the business services provider's stock valued at $36,000 after buying an additional 183 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in TD SYNNEX by 11.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,008 shares of the business services provider's stock valued at $822,000 after acquiring an additional 708 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in TD SYNNEX in the fourth quarter worth approximately $6,167,000. Forum Financial Management LP increased its stake in TD SYNNEX by 10.0% during the fourth quarter. Forum Financial Management LP now owns 2,514 shares of the business services provider's stock worth $295,000 after acquiring an additional 229 shares during the last quarter. Finally, Vise Technologies Inc. purchased a new stake in TD SYNNEX in the fourth quarter valued at $276,000. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on SNX shares. Royal Bank of Canada lowered their price target on TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Barrington Research reiterated an "outperform" rating and set a $156.00 price target on shares of TD SYNNEX in a research report on Friday, April 11th. Wall Street Zen downgraded shares of TD SYNNEX from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. JPMorgan Chase & Co. decreased their price objective on shares of TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Finally, Barclays dropped 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 investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $137.22.

TD SYNNEX Stock Down 0.3%

Shares of NYSE:SNX traded down $0.37 during trading on Tuesday, hitting $125.53. The company's stock had a trading volume of 125,397 shares, compared to its average volume of 732,382. TD SYNNEX Co. has a fifty-two week low of $92.23 and a fifty-two week high of $145.10. The business has a 50 day moving average price of $113.84 and a two-hundred day moving average price of $123.73. 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 company has a market capitalization of $10.53 billion, a PE ratio of 15.78, a P/E/G ratio of 1.06 and a beta of 1.29.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its quarterly earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share 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 company had revenue of $14.53 billion for the quarter, compared to analysts' expectations of $14.79 billion. During the same quarter last year, the company earned $2.99 EPS. TD SYNNEX's revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, research analysts expect that TD SYNNEX Co. will post 11.88 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Stockholders 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 dividend yield of 1.40%. TD SYNNEX's payout ratio is 21.97%.

Insider Transactions at TD SYNNEX

In other news, insider Miriam Anne Murphy sold 3,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider now owns 14,883 shares in the company, valued at approximately $1,637,130. The trade was a 16.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Marshall Witt sold 1,510 shares of TD SYNNEX stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $128.08, for a total transaction of $193,400.80. Following 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. Corporate insiders own 1.00% of the company's stock.

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.