TD SYNNEX Co. (NYSE:SNX) Shares Purchased by Pinebridge Investments L.P.

Pinebridge Investments L.P. increased its holdings in TD SYNNEX Co. (NYSE:SNX - Free Report) by 40.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,058 shares of the business services provider's stock after purchasing an additional 5,464 shares during the period. Pinebridge Investments L.P.'s holdings in TD SYNNEX were worth $2,235,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of TD SYNNEX in the 4th quarter worth about $121,199,000. Ninety One UK Ltd boosted its position in shares of 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 buying an additional 1,016,251 shares during the period. JPMorgan Chase & Co. grew its stake in shares of TD SYNNEX by 37.0% during the third 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. LSV Asset Management raised its holdings in shares of TD SYNNEX by 46.9% in the fourth quarter. LSV Asset Management now owns 1,715,847 shares of the business services provider's stock worth $201,235,000 after buying an additional 547,692 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in TD SYNNEX during the 4th quarter valued at $47,094,000. Hedge funds and other institutional investors own 84.00% of the company's stock.

TD SYNNEX Stock Up 1.1 %

Shares of SNX traded up $1.20 during trading hours on Thursday, hitting $112.00. The company had a trading volume of 524,815 shares, compared to its average volume of 749,719. TD SYNNEX Co. has a one year low of $92.23 and a one year high of $145.10. The company's fifty day moving average price is $116.89 and its two-hundred day moving average price is $123.35. The company has a market capitalization of $9.40 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 1.06 and a beta of 1.36. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its quarterly earnings results 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). TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The firm had revenue of $14.53 billion during the quarter, compared to the consensus estimate of $14.79 billion. During the same quarter in the prior year, the business posted $2.99 earnings per share. The firm's quarterly revenue was up 4.0% on a year-over-year basis. As a group, equities 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 disclosed a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 11th were issued a dividend of $0.44 per share. The ex-dividend date was Friday, April 11th. This represents a $1.76 annualized dividend and a dividend yield of 1.57%. TD SYNNEX's dividend payout ratio is presently 21.97%.

Insider Buying and Selling

In related news, CFO Marshall Witt sold 1,510 shares of the company's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $128.08, for a total value of $193,400.80. Following the transaction, the chief financial officer now directly owns 49,843 shares of the company's stock, valued at $6,383,891.44. This represents a 2.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Miriam Anne Murphy sold 3,000 shares of TD SYNNEX stock in a transaction dated Wednesday, April 30th. The stock was 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 of the company's stock, valued at approximately $1,637,130. This represents a 16.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,510 shares of company stock worth $3,241,001 in the last ninety days. 1.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

SNX has been the subject of several research analyst reports. Cfra decreased their target price on TD SYNNEX from $147.00 to $132.00 and set a "buy" rating for the company in a research report on Friday, March 28th. JPMorgan Chase & Co. lowered 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. Royal Bank of Canada decreased their price target 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. Barrington Research reissued an "outperform" rating and issued a $156.00 price objective on shares of TD SYNNEX in a research note on Friday, April 11th. Finally, UBS Group decreased their target price on TD SYNNEX from $150.00 to $138.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $137.22.

About TD SYNNEX

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.