Lord Abbett & CO. LLC Boosts Stock Holdings in TD SYNNEX Co. (NYSE:SNX)

Lord Abbett & CO. LLC boosted its stake in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 3.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 849,944 shares of the business services provider's stock after buying an additional 24,476 shares during the quarter. Lord Abbett & CO. LLC owned approximately 1.01% of TD SYNNEX worth $99,681,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in SNX. Vanguard Group Inc. boosted its holdings in TD SYNNEX by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 7,685,224 shares of the business services provider's stock valued at $901,323,000 after acquiring an additional 29,659 shares during the last quarter. FMR LLC increased its position in shares of TD SYNNEX by 3.2% during the fourth quarter. FMR LLC now owns 7,663,179 shares of the business services provider's stock worth $898,738,000 after buying an additional 237,587 shares during the period. JPMorgan Chase & Co. raised its stake in TD SYNNEX by 10.7% during the fourth quarter. JPMorgan Chase & Co. now owns 3,335,501 shares of the business services provider's stock worth $391,188,000 after buying an additional 323,282 shares during the last quarter. Ninety One UK Ltd lifted its holdings 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 valued at $277,316,000 after buying an additional 1,016,251 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in TD SYNNEX by 1.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,266,614 shares of the business services provider's stock valued at $265,826,000 after acquiring an additional 31,404 shares during the last quarter. Institutional investors own 84.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SNX. StockNews.com lowered TD SYNNEX from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. The Goldman Sachs Group lowered their price objective on shares of TD SYNNEX from $154.00 to $137.00 and set a "buy" rating for the company in a research note on Friday, March 28th. 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 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 report on Friday, March 28th. Finally, Barrington Research restated an "outperform" rating and issued a $156.00 target price on shares of TD SYNNEX in a research note on Friday, April 11th. 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.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $137.22.

Insider Transactions at TD SYNNEX

In other news, CEO Patrick Zammit sold 6,823 shares of the company's stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $143.00, for a total transaction of $975,689.00. Following the sale, the chief executive officer now directly owns 165,604 shares in the company, valued at $23,681,372. This represents a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction, the chief financial officer now owns 49,843 shares of the company's stock, valued at $6,383,891.44. This trade represents 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 worth $3,886,690 over the last quarter. Corporate insiders own 1.00% of the company's stock.

TD SYNNEX Stock Up 0.8 %

Shares of SNX stock traded up $0.85 on Friday, hitting $111.21. The stock had a trading volume of 567,689 shares, compared to its average volume of 752,735. TD SYNNEX Co. has a 12-month low of $92.23 and a 12-month high of $145.10. The stock has a market cap of $9.33 billion, a price-to-earnings ratio of 13.97, a price-to-earnings-growth ratio of 1.06 and a beta of 1.36. The business has a 50 day moving average of $118.81 and a 200 day moving average of $123.58. 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 EPS for the quarter, missing the consensus estimate of $2.87 by ($0.07). The firm 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%. TD SYNNEX's quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.99 EPS. As a group, analysts expect that TD SYNNEX Co. will post 11.88 EPS for the current year.

TD SYNNEX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Friday, April 11th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a yield of 1.58%. TD SYNNEX's dividend payout ratio is presently 21.97%.

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.