Woodline Partners LP grew its holdings in TD SYNNEX Co. (NYSE:SNX - Free Report) by 68.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 182,405 shares of the business services provider's stock after purchasing an additional 74,192 shares during the quarter. Woodline Partners LP owned 0.22% of TD SYNNEX worth $21,392,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Arizona State Retirement System increased its stake in shares of TD SYNNEX by 0.4% during the fourth quarter. Arizona State Retirement System now owns 22,225 shares of the business services provider's stock worth $2,607,000 after buying an additional 78 shares during the period. Quadrant Capital Group LLC increased its position in shares of TD SYNNEX by 9.2% in the 4th quarter. Quadrant Capital Group LLC now owns 1,068 shares of the business services provider's stock valued at $125,000 after purchasing an additional 90 shares during the last quarter. Ellevest Inc. increased its position in shares of TD SYNNEX by 3.9% in the 4th quarter. Ellevest Inc. now owns 2,384 shares of the business services provider's stock valued at $280,000 after purchasing an additional 90 shares during the last quarter. Utah Retirement Systems raised its holdings in shares of TD SYNNEX by 2.5% in the 4th quarter. Utah Retirement Systems now owns 4,100 shares of the business services provider's stock valued at $481,000 after purchasing an additional 100 shares in the last quarter. Finally, Amundi lifted its position in shares of TD SYNNEX by 22.3% during the 4th quarter. Amundi now owns 560 shares of the business services provider's stock worth $66,000 after purchasing an additional 102 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, 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 transaction, the chief financial officer now directly owns 49,843 shares in the company, valued at approximately $6,383,891.44. This trade represents a 2.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard T. Hume sold 20,000 shares of the business's stock in a transaction 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 directly owns 65,480 shares in the company, valued at $8,897,422.40. This represents a 23.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,510 shares of company stock valued at $3,241,001 over the last three months. Company insiders own 1.00% of the company's stock.
TD SYNNEX Stock Down 0.6%
NYSE SNX traded down $0.78 on Monday, reaching $121.53. The company had a trading volume of 398,895 shares, compared to its average volume of 741,075. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. TD SYNNEX Co. has a 1 year low of $92.23 and a 1 year high of $145.10. The firm has a 50-day moving average of $112.83 and a 200-day moving average of $123.39. The firm has a market capitalization of $10.20 billion, a PE ratio of 15.27, a P/E/G ratio of 1.06 and a beta of 1.33.
TD SYNNEX (NYSE:SNX - Get Free Report) last issued its quarterly earnings results on Thursday, March 27th. The business services provider reported $2.80 EPS 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 analysts' expectations of $14.79 billion. TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The company's revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.99 EPS. On average, equities research analysts anticipate that TD SYNNEX Co. will post 11.88 EPS for the current fiscal year.
TD SYNNEX Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 11th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date was Friday, April 11th. TD SYNNEX's payout ratio is 21.97%.
Analysts Set New Price Targets
Several equities analysts have commented on the stock. The Goldman Sachs Group dropped their price target on shares of TD SYNNEX from $154.00 to $137.00 and set a "buy" rating on the stock in a research note 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 research report on Friday, March 28th. UBS Group cut their price target on shares of TD SYNNEX from $150.00 to $138.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Royal Bank of Canada decreased their price objective on shares of TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Finally, Barrington Research reiterated an "outperform" rating and set a $156.00 target price on shares of TD SYNNEX in a research report on Friday, April 11th. Three 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 has an average rating of "Moderate Buy" and a consensus target price of $137.22.
Check Out Our Latest Research Report on TD SYNNEX
About TD SYNNEX
(
Free Report)
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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