Tidal Investments LLC Buys 209,598 Shares of TD SYNNEX Co. (NYSE:SNX)

Tidal Investments LLC raised its position in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 1,224.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 226,719 shares of the business services provider's stock after purchasing an additional 209,598 shares during the quarter. Tidal Investments LLC owned 0.27% of TD SYNNEX worth $26,590,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Bartlett & CO. Wealth Management LLC grew its holdings in shares of TD SYNNEX by 345.1% during the fourth 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 last quarter. Bessemer Group Inc. boosted its stake 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 purchasing an additional 152 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of TD SYNNEX by 48.4% in the 4th quarter. UMB Bank n.a. now owns 429 shares of the business services provider's stock worth $50,000 after purchasing an additional 140 shares in the last quarter. Blue Trust Inc. raised its stake in shares of TD SYNNEX by 37.7% in the fourth quarter. Blue Trust Inc. now owns 471 shares of the business services provider's stock worth $55,000 after purchasing an additional 129 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its holdings in shares of TD SYNNEX by 31.9% during the fourth quarter. Global Retirement Partners LLC now owns 480 shares of the business services provider's stock valued at $56,000 after purchasing an additional 116 shares in the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

TD SYNNEX Stock Performance

Shares of NYSE SNX traded down $0.81 during trading on Friday, hitting $121.50. The company had a trading volume of 160,767 shares, compared to its average volume of 738,118. TD SYNNEX Co. has a 12 month low of $92.23 and a 12 month high of $145.10. 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 has a market capitalization of $10.20 billion, a P/E ratio of 15.25, a price-to-earnings-growth ratio of 1.06 and a beta of 1.33. The stock has a 50 day simple moving average of $112.98 and a 200 day simple moving average of $123.38.

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). The firm had revenue of $14.53 billion for the quarter, compared to analysts' expectations of $14.79 billion. TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. TD SYNNEX's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.99 EPS. As a group, analysts anticipate that TD SYNNEX Co. will post 11.88 earnings per share for the current year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 25th. Investors 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 of this dividend was Friday, April 11th. TD SYNNEX's dividend payout ratio is currently 21.97%.

Insiders Place Their Bets

In other news, CFO Marshall Witt sold 1,510 shares of the company'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 transaction, the chief financial officer now owns 49,843 shares of the company's stock, valued at $6,383,891.44. This represents a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Miriam Anne Murphy sold 3,000 shares of TD SYNNEX stock in a transaction that occurred 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 directly owns 14,883 shares in the company, valued at $1,637,130. This trade represents a 16.78% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,510 shares of company stock worth $3,241,001. Corporate insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. dropped their price objective on TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. UBS Group decreased their price objective on shares of TD SYNNEX from $150.00 to $138.00 and set a "buy" rating for the company in a report on Friday, March 28th. Cfra dropped their target price on shares of TD SYNNEX from $147.00 to $132.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Barclays cut 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 research report on Friday, March 28th. Finally, Royal Bank of Canada lowered their price target on TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, TD SYNNEX has a consensus rating of "Moderate Buy" and an average price target of $137.22.

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.