JPMorgan Chase & Co. Purchases 323,282 Shares of TD SYNNEX Co. (NYSE:SNX)

JPMorgan Chase & Co. grew its position in TD SYNNEX Co. (NYSE:SNX - Free Report) by 10.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,335,501 shares of the business services provider's stock after acquiring an additional 323,282 shares during the period. JPMorgan Chase & Co. owned 3.94% of TD SYNNEX worth $391,188,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Bartlett & CO. Wealth Management LLC increased its position 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 acquiring an additional 176 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of TD SYNNEX by 48.4% in the fourth quarter. UMB Bank n.a. now owns 429 shares of the business services provider's stock valued at $50,000 after purchasing an additional 140 shares in the last quarter. Point72 DIFC Ltd bought a new position in TD SYNNEX in the 3rd quarter worth approximately $55,000. Blue Trust Inc. lifted its holdings in TD SYNNEX by 37.7% during the 4th quarter. Blue Trust Inc. now owns 471 shares of the business services provider's stock worth $55,000 after buying an additional 129 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its position 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 during the last quarter. 84.00% of the stock is currently owned by institutional investors.

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TD SYNNEX Trading Up 2.3 %

TD SYNNEX stock traded up $2.44 during mid-day trading on Wednesday, hitting $106.29. 640,636 shares of the company's stock were exchanged, compared to its average volume of 760,493. The company's 50 day simple moving average is $134.27 and its 200-day simple moving average is $125.64. 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 firm has a market capitalization of $8.97 billion, a P/E ratio of 13.35, a PEG ratio of 1.06 and a beta of 1.51. TD SYNNEX Co. has a fifty-two week low of $98.00 and a fifty-two week high of $145.10.

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

TD SYNNEX Announces Dividend

The business 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. This represents a $1.76 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Friday, April 11th. TD SYNNEX's payout ratio is presently 21.97%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SNX shares. JPMorgan Chase & Co. cut their price target on TD SYNNEX from $150.00 to $125.00 and set a "neutral" rating on the stock in a research note on Friday, March 28th. Barclays reduced 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 research note on Friday, March 28th. Cfra dropped their price target on shares of TD SYNNEX from $147.00 to $132.00 and set a "buy" rating for the company in a research note on Friday, March 28th. The Goldman Sachs Group reduced their price objective on shares of TD SYNNEX from $154.00 to $137.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Finally, StockNews.com cut shares of TD SYNNEX from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $140.00.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the company's stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the completion of the transaction, the director now owns 111,080 shares of the company's stock, valued at $13,065,229.60. This represents a 15.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $114,171.12. Following the completion of the sale, the director now owns 4,856 shares in the company, valued at $660,804.48. This trade represents a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,172 shares of company stock valued at $6,353,261 in the last 90 days. 1.00% of the stock is currently owned by company insiders.

About TD SYNNEX

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.