Bridgewater Associates LP Buys 106,245 Shares of TD SYNNEX Co. (NYSE:SNX)

Bridgewater Associates LP raised its holdings in TD SYNNEX Co. (NYSE:SNX - Free Report) by 137.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 183,751 shares of the business services provider's stock after buying an additional 106,245 shares during the period. Bridgewater Associates LP owned about 0.22% of TD SYNNEX worth $21,550,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. XTX Topco Ltd bought a new position in TD SYNNEX during the 3rd quarter worth $219,000. M&T Bank Corp grew its position in TD SYNNEX by 13.5% during the third quarter. M&T Bank Corp now owns 2,188 shares of the business services provider's stock worth $263,000 after buying an additional 261 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in TD SYNNEX during the 3rd quarter worth $232,000. Tidal Investments LLC lifted its position in shares of TD SYNNEX by 9.3% during the 3rd quarter. Tidal Investments LLC now owns 17,121 shares of the business services provider's stock valued at $2,056,000 after acquiring an additional 1,450 shares during the period. Finally, Brass Tax Wealth Management Inc. acquired a new position in TD SYNNEX in the third quarter valued at about $203,000. 84.00% of the stock is currently owned by institutional investors and hedge funds.

TD SYNNEX Stock Performance

SNX traded up $1.47 during trading hours on Friday, hitting $105.67. The company's stock had a trading volume of 1,050,677 shares, compared to its average volume of 750,724. The company has a 50-day simple moving average of $122.38 and a 200 day simple moving average of $123.89. 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 firm has a market capitalization of $8.87 billion, a PE ratio of 13.27, a PEG ratio of 1.06 and a beta of 1.36. TD SYNNEX Co. has a fifty-two week low of $92.23 and a fifty-two week high of $145.10.

TD SYNNEX (NYSE:SNX - Get Free Report) last announced 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 net margin of 1.18% and a return on equity of 11.91%. The business had revenue of $14.53 billion for the quarter, compared to the consensus estimate of $14.79 billion. During the same quarter in the previous year, the company earned $2.99 EPS. TD SYNNEX's revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, sell-side analysts expect that TD SYNNEX Co. will post 11.88 EPS for the current year.

TD SYNNEX Dividend Announcement

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 paid a $0.44 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.76 annualized dividend and a dividend yield of 1.67%. TD SYNNEX's dividend payout ratio is presently 21.97%.

Insider Buying and Selling at TD SYNNEX

In related news, CEO Patrick Zammit sold 6,823 shares of the business's stock in a transaction on Thursday, January 30th. The shares were 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. The trade was a 3.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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. The trade was a 23.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,333 shares of company stock worth $3,886,690 over the last 90 days. Company insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SNX shares. The Goldman Sachs Group decreased their price target on shares of TD SYNNEX from $154.00 to $137.00 and set a "buy" rating on the stock in a report on Friday, March 28th. UBS Group lowered their price objective 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. Cfra lowered their price objective on shares of TD SYNNEX from $147.00 to $132.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Barrington Research restated an "outperform" rating and set a $156.00 price target on shares of TD SYNNEX in a research report on Friday, April 11th. Finally, Royal Bank of Canada cut their target price on TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $137.22.

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.