KLP Kapitalforvaltning AS Invests $2.77 Million in TD SYNNEX Co. (NYSE:SNX)

KLP Kapitalforvaltning AS bought a new stake in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 23,600 shares of the business services provider's stock, valued at approximately $2,768,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Arizona State Retirement System grew its stake in TD SYNNEX by 0.4% during the 4th quarter. Arizona State Retirement System now owns 22,225 shares of the business services provider's stock worth $2,607,000 after buying an additional 78 shares during the last quarter. Amundi grew its position in shares of TD SYNNEX by 22.3% during the fourth quarter. Amundi now owns 560 shares of the business services provider's stock worth $66,000 after acquiring an additional 102 shares during the last quarter. Highland Capital Management LLC increased its holdings in shares of TD SYNNEX by 6.5% in the 4th quarter. Highland Capital Management LLC now owns 1,905 shares of the business services provider's stock worth $223,000 after acquiring an additional 116 shares during the period. Global Retirement Partners LLC lifted 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 purchasing an additional 116 shares during the last quarter. Finally, Meixler Investment Management Ltd. boosted its stake in TD SYNNEX by 2.0% during the 4th quarter. Meixler Investment Management Ltd. now owns 5,932 shares of the business services provider's stock valued at $696,000 after purchasing an additional 118 shares during the period. 84.00% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of research firms have recently weighed in on SNX. UBS Group cut their price target on TD SYNNEX from $150.00 to $138.00 and set a "buy" rating on the stock in a report on Friday. Barclays cut their target price on TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating on the stock in a research note on Friday. JPMorgan Chase & Co. lowered their price target on TD SYNNEX from $150.00 to $125.00 and set a "neutral" rating on the stock in a report on Friday. Cfra reduced their price objective on shares of TD SYNNEX from $147.00 to $132.00 and set a "buy" rating for the company in a report on Friday. Finally, Royal Bank of Canada increased their target price on shares of TD SYNNEX from $140.00 to $165.00 and gave the company an "outperform" rating in a research report on Friday, February 21st. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, TD SYNNEX has an average rating of "Moderate Buy" and a consensus target price of $140.00.

Insider Activity

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 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. This trade represents a 2.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard T. Hume sold 20,000 shares of the business's stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the transaction, the director now directly owns 111,080 shares in the company, valued at $13,065,229.60. The trade was a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,172 shares of company stock worth $6,353,261 over the last quarter. Corporate insiders own 1.00% of the company's stock.

TD SYNNEX Price Performance

Shares of NYSE:SNX traded down $3.09 during trading hours on Friday, hitting $104.45. 2,582,715 shares of the company's stock traded hands, compared to its average volume of 757,467. The company's fifty day simple moving average is $135.67 and its two-hundred day simple moving average is $125.53. The company has a market cap of $8.81 billion, a price-to-earnings ratio of 13.12, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. TD SYNNEX Co. has a 52 week low of $98.00 and a 52 week high of $145.10.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued 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 business had revenue of $14.53 billion for the quarter, compared to the consensus estimate of $14.79 billion. TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The company's quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.99 earnings per share. As a group, equities analysts anticipate that TD SYNNEX Co. will post 11.88 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.68%. The ex-dividend date is Friday, April 11th. TD SYNNEX's dividend payout ratio (DPR) is currently 22.11%.

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.