Khrom Capital Management LLC Decreases Stake in TD SYNNEX Co. (NYSE:SNX)

Khrom Capital Management LLC lessened its stake in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 6.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 697,847 shares of the business services provider's stock after selling 51,813 shares during the quarter. TD SYNNEX accounts for about 9.3% of Khrom Capital Management LLC's investment portfolio, making the stock its 5th largest position. Khrom Capital Management LLC owned 0.83% of TD SYNNEX worth $81,843,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in SNX. Norges Bank bought a new position in shares of TD SYNNEX in the fourth quarter valued at about $121,199,000. Ninety One UK Ltd lifted 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 worth $277,316,000 after purchasing an additional 1,016,251 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of TD SYNNEX by 37.0% in 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 purchasing an additional 813,634 shares in the last quarter. LSV Asset Management lifted its holdings in TD SYNNEX by 46.9% during the 4th 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 in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of TD SYNNEX in the 4th quarter valued at $47,094,000. Institutional investors own 84.00% of the company's stock.

TD SYNNEX Stock Up 0.8 %

SNX traded up $0.85 on Friday, hitting $111.21. 567,689 shares of the company were exchanged, compared to its average volume of 752,735. TD SYNNEX Co. has a 12 month low of $92.23 and a 12 month high of $145.10. The company has a market cap of $9.33 billion, a PE ratio of 13.97, a PEG ratio of 1.06 and a beta of 1.36. 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 stock's fifty day moving average is $118.81 and its 200-day moving average is $123.55.

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 (EPS) 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 period in the previous year, the company posted $2.99 earnings per share. The firm's revenue for the quarter was up 4.0% compared to the same quarter last year. Equities research analysts predict that TD SYNNEX Co. will post 11.88 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently declared 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. This represents a $1.76 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend was Friday, April 11th. TD SYNNEX's dividend payout ratio (DPR) is currently 21.97%.

Analyst Ratings Changes

Several brokerages have weighed in on SNX. Barclays dropped their price objective on TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating for the company in a report on Friday, March 28th. UBS Group lowered their target price 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 reduced their target price on TD SYNNEX from $147.00 to $132.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Royal Bank of Canada lowered 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 report on Friday, April 11th. Finally, JPMorgan Chase & Co. lowered their target price on TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, TD SYNNEX has an average rating of "Moderate Buy" and a consensus target price of $137.22.

Insider Buying and Selling

In other news, CEO Patrick Zammit sold 6,823 shares of the firm's stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $143.00, for a total value of $975,689.00. Following the transaction, the chief executive officer now owns 165,604 shares in the company, valued at $23,681,372. This trade represents a 3.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $193,400.80. Following the sale, the chief financial officer now owns 49,843 shares in the company, valued at $6,383,891.44. This trade represents a 2.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,333 shares of company stock valued at $3,886,690 over the last 90 days. 1.00% of the stock is owned by insiders.

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.