Canada Pension Plan Investment Board Purchases Shares of 2,400 TD SYNNEX Co. (NYSE:SNX)

Canada Pension Plan Investment Board acquired a new position in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,400 shares of the business services provider's stock, valued at approximately $281,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bartlett & CO. Wealth Management LLC grew its stake in TD SYNNEX by 345.1% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider's stock valued at $27,000 after buying an additional 176 shares during the last quarter. Bessemer Group Inc. grew its position in shares of TD SYNNEX by 174.7% in the fourth quarter. Bessemer Group Inc. now owns 239 shares of the business services provider's stock valued at $28,000 after purchasing an additional 152 shares during the last quarter. UMB Bank n.a. increased its stake in shares of TD SYNNEX by 48.4% during the fourth quarter. UMB Bank n.a. now owns 429 shares of the business services provider's stock worth $50,000 after purchasing an additional 140 shares during the period. Blue Trust Inc. boosted its stake in TD SYNNEX by 37.7% in the 4th quarter. Blue Trust Inc. now owns 471 shares of the business services provider's stock valued at $55,000 after purchasing an additional 129 shares during the period. Finally, Global Retirement Partners LLC grew its holdings in TD SYNNEX by 31.9% in the 4th quarter. Global Retirement Partners LLC now owns 480 shares of the business services provider's stock valued at $56,000 after buying an additional 116 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Patrick Zammit sold 6,823 shares of TD SYNNEX stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $143.00, for a total transaction of $975,689.00. Following the sale, the chief executive officer now directly owns 165,604 shares of the company's stock, valued at approximately $23,681,372. This trade represents a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Marshall Witt sold 1,510 shares of the firm's 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 completion of the transaction, the chief financial officer now owns 49,843 shares of the company's stock, valued at approximately $6,383,891.44. This trade represents a 2.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,333 shares of company stock worth $3,886,690. Insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SNX shares. Barclays dropped their target price 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. Royal Bank of Canada cut their price objective on shares of TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating for the company in a report on Friday, April 11th. StockNews.com cut shares of TD SYNNEX from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Cfra cut their price target on TD SYNNEX from $147.00 to $132.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Finally, UBS Group lowered their price objective on TD SYNNEX from $150.00 to $138.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, TD SYNNEX currently has a consensus rating of "Moderate Buy" and a consensus price target of $137.22.

TD SYNNEX Stock Up 0.8 %

NYSE SNX opened at $111.21 on Friday. TD SYNNEX Co. has a fifty-two week low of $92.23 and a fifty-two week high of $145.10. The business has a fifty day moving average price of $118.81 and a two-hundred day moving average price of $123.54. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. The stock has a market capitalization of $9.33 billion, a PE ratio of 13.97, a PEG ratio of 1.06 and a beta of 1.36.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $14.53 billion during the quarter, compared to analyst estimates of $14.79 billion. TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The business's quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the business earned $2.99 earnings per share. Equities analysts expect that TD SYNNEX Co. will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Friday, April 11th were paid a dividend of $0.44 per share. The ex-dividend date was Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.58%. TD SYNNEX's payout ratio is presently 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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