Grantham Mayo Van Otterloo & Co. LLC Buys Shares of 11,266 TD SYNNEX Co. (NYSE:SNX)

Grantham Mayo Van Otterloo & Co. LLC bought a new stake in TD SYNNEX Co. (NYSE:SNX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 11,266 shares of the business services provider's stock, valued at approximately $1,321,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Proficio Capital Partners LLC acquired a new stake in TD SYNNEX in the fourth quarter valued at about $5,158,000. JPMorgan Chase & Co. raised its stake in shares of TD SYNNEX by 37.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider's stock worth $361,707,000 after buying an additional 813,634 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of TD SYNNEX by 976.6% in the 4th quarter. IFP Advisors Inc now owns 1,012 shares of the business services provider's stock valued at $119,000 after buying an additional 918 shares during the period. Sei Investments Co. boosted its stake in shares of TD SYNNEX by 25.5% in the fourth quarter. Sei Investments Co. now owns 70,745 shares of the business services provider's stock valued at $8,297,000 after buying an additional 14,379 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in TD SYNNEX during the fourth quarter worth $2,260,000. 84.00% of the stock is currently owned by institutional investors and hedge funds.

TD SYNNEX Price Performance

SNX stock traded down $0.02 on Friday, reaching $101.83. The company had a trading volume of 1,696,937 shares, compared to its average volume of 750,804. 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 company's fifty day moving average is $126.24 and its 200 day moving average is $124.46. The company has a market cap of $8.55 billion, a P/E ratio of 12.79, a PEG ratio of 1.06 and a beta of 1.36. TD SYNNEX Co. has a 1 year low of $92.23 and a 1 year high of $145.10.

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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 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 company had revenue of $14.53 billion for the quarter, compared to analyst estimates of $14.79 billion. During the same period in the previous year, the business earned $2.99 EPS. The firm's revenue was up 4.0% on a year-over-year basis. On average, research analysts forecast that TD SYNNEX Co. will post 11.88 earnings per share for the current 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 issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.73%. TD SYNNEX's payout ratio is 21.97%.

Insider Activity at TD SYNNEX

In related news, 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 value of $193,400.80. Following the transaction, the chief financial officer now owns 49,843 shares in the company, valued at approximately $6,383,891.44. This trade represents a 2.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ann F. Vezina sold 839 shares of the business's stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $136.08, for a total transaction of $114,171.12. Following the sale, the director now owns 4,856 shares of the company's stock, valued at approximately $660,804.48. This represents a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,172 shares of company stock worth $4,000,861. 1.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have commented on SNX. The Goldman Sachs Group decreased their target price on shares of TD SYNNEX from $154.00 to $137.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. StockNews.com lowered shares of TD SYNNEX from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. UBS Group reduced their price target on shares of TD SYNNEX from $150.00 to $138.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Royal Bank of Canada decreased their price target on TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating on the stock in a research note on Friday. Finally, Cfra dropped their price objective 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. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, TD SYNNEX currently has an average 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.