Ceredex Value Advisors LLC grew its position in TD SYNNEX Co. (NYSE:SNX - Free Report) by 176.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 356,225 shares of the business services provider's stock after acquiring an additional 227,275 shares during the quarter. Ceredex Value Advisors LLC owned 0.42% of TD SYNNEX worth $41,778,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently modified their holdings of SNX. Norges Bank purchased a new position in shares of TD SYNNEX in the 4th quarter worth $121,199,000. Ninety One UK Ltd grew its position in TD SYNNEX by 75.4% in 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 acquiring an additional 1,016,251 shares in the last quarter. JPMorgan Chase & Co. raised its position in TD SYNNEX by 37.0% during 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 during the period. LSV Asset Management lifted its stake in shares of TD SYNNEX by 46.9% in the 4th quarter. LSV Asset Management now owns 1,715,847 shares of the business services provider's stock valued at $201,235,000 after purchasing an additional 547,692 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of TD SYNNEX in the 4th quarter worth approximately $47,094,000. 84.00% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
SNX has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped their price objective on TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Barclays dropped their target price on shares of TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating on the stock in a report on Friday, March 28th. Cfra dropped their price objective on shares of TD SYNNEX from $147.00 to $132.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Barrington Research reissued an "outperform" rating and issued a $156.00 price objective on shares of TD SYNNEX in a research note on Friday, April 11th. Finally, The Goldman Sachs Group dropped their target price on TD SYNNEX from $154.00 to $137.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $137.22.
Check Out Our Latest Research Report on SNX
TD SYNNEX Stock Performance
Shares of TD SYNNEX stock traded up $1.47 during midday trading on Friday, hitting $105.67. The company had a trading volume of 1,050,677 shares, compared to its average volume of 750,724. The stock has a market cap of $8.87 billion, a price-to-earnings ratio of 13.27, 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 quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. The company has a fifty day simple moving average of $122.38 and a 200 day simple moving average of $123.89.
TD SYNNEX (NYSE:SNX - Get Free Report) last posted its quarterly earnings data 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). 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 previous year, the firm posted $2.99 earnings per share. The company's quarterly revenue was up 4.0% on a year-over-year basis. As a group, analysts predict 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 will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend is Friday, April 11th. TD SYNNEX's payout ratio is 21.97%.
Insider Buying and Selling
In related news, Director Richard T. Hume sold 20,000 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $135.88, for a total transaction of $2,717,600.00. Following the completion of the transaction, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Marshall Witt sold 1,510 shares of the company's stock in a transaction 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 sale, the chief financial officer now directly owns 49,843 shares in the company, valued at approximately $6,383,891.44. The trade was a 2.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,333 shares of company stock valued at $3,886,690 over the last quarter. 1.00% of the stock is currently owned by company insiders.
About TD SYNNEX
(
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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