Aster Capital Management DIFC Ltd purchased a new stake in TD SYNNEX Co. (NYSE:SNX - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 7,966 shares of the business services provider's stock, valued at approximately $934,000.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in TD SYNNEX by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 7,685,224 shares of the business services provider's stock worth $901,323,000 after purchasing an additional 29,659 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of TD SYNNEX by 10.7% in 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 buying an additional 323,282 shares during the period. Ninety One UK Ltd grew its position in shares of TD SYNNEX by 75.4% during the 4th 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 last quarter. State Street Corp raised its stake in TD SYNNEX by 0.7% during the third quarter. State Street Corp now owns 2,189,732 shares of the business services provider's stock worth $262,943,000 after acquiring an additional 15,995 shares during the period. Finally, Lyrical Asset Management LP lifted its holdings in TD SYNNEX by 3.6% in the fourth quarter. Lyrical Asset Management LP now owns 1,288,363 shares of the business services provider's stock worth $151,099,000 after acquiring an additional 44,309 shares during the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, Director Ann F. Vezina sold 839 shares of TD SYNNEX stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $136.08, for a total value of $114,171.12. Following the transaction, the director now owns 4,856 shares of the company's stock, valued at $660,804.48. The trade was a 14.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Marshall Witt sold 1,510 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total transaction of $193,400.80. Following the sale, the chief financial officer now directly owns 49,843 shares of the company's stock, valued at approximately $6,383,891.44. This represents a 2.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,172 shares of company stock worth $4,000,861. 1.00% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on SNX. UBS Group dropped their price target on 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 cut their target price on TD SYNNEX from $154.00 to $137.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. JPMorgan Chase & Co. lowered their price target 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. Royal Bank of Canada cut their price objective on shares of TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating on the stock in a research report on Friday. Finally, Barrington Research restated an "outperform" rating and issued a $156.00 target price on shares of TD SYNNEX 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. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $137.22.
Read Our Latest Research Report on SNX
TD SYNNEX Price Performance
Shares of SNX stock traded up $0.16 during midday trading on Friday, reaching $101.57. 685,805 shares of the company were exchanged, compared to its average volume of 748,025. The company's 50 day moving average price is $127.01 and its two-hundred day moving average price is $124.53. The company has a market cap of $8.57 billion, a P/E ratio of 12.72, a PEG ratio of 1.06 and a beta of 1.36. TD SYNNEX Co. has a 12 month low of $92.23 and a 12 month high of $145.10. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24.
TD SYNNEX (NYSE:SNX - Get Free Report) last announced its earnings results on Thursday, March 27th. The business services provider reported $2.80 EPS for the quarter, missing the consensus estimate of $2.87 by ($0.07). The firm had revenue of $14.53 billion for the quarter, compared to the consensus estimate of $14.79 billion. TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. TD SYNNEX's revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.99 EPS. On average, sell-side analysts expect that TD SYNNEX Co. will post 11.88 earnings per share for the current year.
TD SYNNEX Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Friday, April 11th. TD SYNNEX's payout ratio is currently 21.97%.
TD SYNNEX Company Profile
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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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