Point72 Asset Management L.P. Increases Position in TD SYNNEX Co. (NYSE:SNX)

Point72 Asset Management L.P. increased its holdings in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 147.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 321,488 shares of the business services provider's stock after acquiring an additional 191,688 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.38% of TD SYNNEX worth $37,704,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. ProShare Advisors LLC increased its stake in shares of TD SYNNEX by 7.0% in the fourth quarter. ProShare Advisors LLC now owns 3,547 shares of the business services provider's stock valued at $416,000 after purchasing an additional 232 shares during the period. Quantinno Capital Management LP boosted its holdings in shares of TD SYNNEX by 9.8% in the fourth quarter. Quantinno Capital Management LP now owns 17,308 shares of the business services provider's stock valued at $2,030,000 after acquiring an additional 1,538 shares in the last quarter. Parkwood LLC boosted its holdings in shares of TD SYNNEX by 24.3% in the fourth quarter. Parkwood LLC now owns 118,912 shares of the business services provider's stock valued at $13,946,000 after acquiring an additional 23,256 shares in the last quarter. Nomura Holdings Inc. bought a new position in shares of TD SYNNEX in the fourth quarter valued at approximately $1,178,000. Finally, Nuveen Asset Management LLC boosted its holdings in shares of 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 valued at $141,913,000 after acquiring an additional 937,040 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company's stock.

Insider Buying and Selling at TD SYNNEX

In other news, Director Richard T. Hume sold 20,000 shares of the firm's stock in a transaction dated 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Marshall Witt sold 1,510 shares of the firm's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total value of $193,400.80. Following the transaction, the chief financial officer now owns 49,843 shares of the company's stock, valued at approximately $6,383,891.44. The trade was a 2.94% 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 valued at $3,241,001 over the last ninety days. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SNX has been the subject of a number of research reports. Barrington Research restated an "outperform" rating and set a $156.00 target price on shares of TD SYNNEX in a report on Friday, April 11th. Barclays lowered their target price on shares of TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating on the stock in a research note on Friday, March 28th. UBS Group decreased 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 report on Friday, March 28th. The Goldman Sachs Group decreased their target price on shares of TD SYNNEX from $154.00 to $137.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Finally, JPMorgan Chase & Co. decreased their target price on shares of TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $137.22.

TD SYNNEX Stock Down 0.1%

SNX traded down $0.10 during trading on Tuesday, hitting $124.26. 525,466 shares of the company's stock traded hands, compared to its average volume of 742,262. The company's 50 day simple moving average is $113.25 and its two-hundred day simple moving average is $123.34. The stock has a market capitalization of $10.43 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 1.06 and a beta of 1.33. 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 Co. has a 12-month low of $92.23 and a 12-month high of $145.10.

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 the consensus estimate 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 for the quarter, compared to the consensus estimate of $14.79 billion. During the same period in the previous year, the company earned $2.99 earnings per share. TD SYNNEX's quarterly revenue was up 4.0% compared to the same quarter last year. Analysts predict that TD SYNNEX Co. will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Friday, April 11th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a yield of 1.42%. TD SYNNEX's dividend payout ratio is presently 21.97%.

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.