Stifel Financial Corp Raises Stock Position in TD SYNNEX Co. (NYSE:SNX)

Stifel Financial Corp raised its holdings in TD SYNNEX Co. (NYSE:SNX - Free Report) by 44.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,788 shares of the business services provider's stock after purchasing an additional 7,580 shares during the quarter. Stifel Financial Corp's holdings in TD SYNNEX were worth $2,907,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in TD SYNNEX by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 7,685,224 shares of the business services provider's stock worth $901,323,000 after acquiring an additional 29,659 shares during the period. FMR LLC grew its stake in shares of TD SYNNEX by 3.2% during the 4th quarter. FMR LLC now owns 7,663,179 shares of the business services provider's stock worth $898,738,000 after purchasing an additional 237,587 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of TD SYNNEX by 10.7% during the 4th quarter. JPMorgan Chase & Co. now owns 3,335,501 shares of the business services provider's stock valued at $391,188,000 after purchasing an additional 323,282 shares in the last quarter. Ninety One UK Ltd boosted its holdings in 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 worth $277,316,000 after buying an additional 1,016,251 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in TD SYNNEX by 1.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,266,614 shares of the business services provider's stock valued at $265,826,000 after buying an additional 31,404 shares during the period. Hedge funds and other institutional investors own 84.00% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group lowered 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 note on Friday, March 28th. Barclays dropped their price objective on TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating on the stock in a report on Friday, March 28th. Royal Bank of Canada decreased their target price on TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Barrington Research reissued an "outperform" rating and issued a $156.00 price target on shares of TD SYNNEX in a report on Friday, April 11th. Finally, StockNews.com cut shares of TD SYNNEX from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, TD SYNNEX presently has a consensus rating of "Moderate Buy" and a consensus price target of $137.22.

Insiders Place Their Bets

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the firm's stock in a transaction on 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 sale, the director now owns 65,480 shares of the company's stock, valued at $8,897,422.40. This trade represents a 23.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Miriam Anne Murphy sold 3,000 shares of the company's stock in a transaction 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 completion of the transaction, the insider now directly owns 14,883 shares in the company, valued at approximately $1,637,130. This trade represents a 16.78 % 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 ninety days. Company insiders own 1.00% of the company's stock.

TD SYNNEX Stock Performance

NYSE:SNX opened at $114.59 on Friday. TD SYNNEX Co. has a twelve month low of $92.23 and a twelve month high of $145.10. The company has a market cap of $9.62 billion, a P/E ratio of 14.40, a P/E/G 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. The company's 50-day moving average price is $115.81 and its 200-day moving average price is $123.28.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its 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 analyst estimates of $14.79 billion. During the same quarter in the prior year, the firm earned $2.99 earnings per share. The company's revenue for the quarter was up 4.0% on a year-over-year basis. On average, sell-side analysts forecast that TD SYNNEX Co. will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Friday, April 11th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.54%. The ex-dividend date was Friday, April 11th. TD SYNNEX's payout ratio is currently 21.97%.

TD SYNNEX Company 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.

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