JPMorgan Chase & Co. Raises Stock Holdings in TD SYNNEX Co. (NYSE:SNX)

JPMorgan Chase & Co. increased its stake in TD SYNNEX Co. (NYSE:SNX - Free Report) by 10.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 approximately 3.94% of TD SYNNEX worth $391,188,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Bartlett & CO. Wealth Management LLC boosted its holdings in shares of 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 worth $27,000 after purchasing an additional 176 shares during the period. UMB Bank n.a. lifted its position in TD SYNNEX by 48.4% in the fourth quarter. UMB Bank n.a. now owns 429 shares of the business services provider's stock worth $50,000 after buying an additional 140 shares during the last quarter. Point72 DIFC Ltd purchased a new position in TD SYNNEX during the third quarter worth $55,000. Blue Trust Inc. increased its position in TD SYNNEX by 37.7% during the fourth quarter. Blue Trust Inc. now owns 471 shares of the business services provider's stock valued at $55,000 after acquiring an additional 129 shares during the last quarter. Finally, Global Retirement Partners LLC increased its position in TD SYNNEX by 31.9% during the fourth quarter. Global Retirement Partners LLC now owns 480 shares of the business services provider's stock valued at $56,000 after acquiring an additional 116 shares during the last quarter. 84.00% of the stock is owned by institutional investors.

TD SYNNEX Stock Down 8.1 %

Shares of NYSE:SNX traded down $8.67 during trading hours on Thursday, hitting $98.08. The company's stock had a trading volume of 328,442 shares, compared to its average volume of 799,663. The firm's fifty day moving average price is $133.58 and its 200 day moving average price is $125.50. TD SYNNEX Co. has a 52 week low of $97.46 and a 52 week high of $145.10. The company has a market capitalization of $8.27 billion, a price-to-earnings ratio of 12.32, a P/E/G ratio of 1.06 and a beta of 1.51. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted its earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share for the quarter, missing analysts' consensus estimates of $2.87 by ($0.07). The company had revenue of $14.53 billion for the quarter, compared to analysts' expectations of $14.79 billion. TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The firm's quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.99 EPS. As a group, research analysts expect that TD SYNNEX Co. will post 11.88 EPS for the current year.

TD SYNNEX Announces Dividend

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 given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date is Friday, April 11th. TD SYNNEX's payout ratio is currently 21.97%.

Insider Buying and Selling

In other news, Director Richard T. Hume sold 20,000 shares of the business's stock in a transaction dated 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 sale, the director now owns 111,080 shares in the company, valued at approximately $13,065,229.60. The trade was a 15.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ann F. Vezina sold 839 shares of the company's stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $136.08, for a total transaction of $114,171.12. Following the transaction, the director now owns 4,856 shares in the company, valued at approximately $660,804.48. This trade represents a 14.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,172 shares of company stock worth $6,353,261 in the last 90 days. 1.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Barclays dropped their price target on shares of TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating for the company in a research note on Friday, March 28th. UBS Group dropped their target price 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. Barrington Research reiterated an "outperform" rating and issued a $156.00 price target on shares of TD SYNNEX in a report on Friday, March 28th. Royal Bank of Canada raised their price target on TD SYNNEX from $140.00 to $165.00 and gave the stock an "outperform" rating in a research note on Friday, February 21st. Finally, StockNews.com downgraded TD SYNNEX from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. Three investment 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 stock presently has a consensus rating of "Moderate Buy" and an average price target of $140.00.

TD SYNNEX 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.