LSV Asset Management raised its stake in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 46.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,715,847 shares of the business services provider's stock after acquiring an additional 547,692 shares during the quarter. LSV Asset Management owned approximately 2.03% of TD SYNNEX worth $201,235,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its stake 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 purchasing an additional 29,659 shares during the last quarter. FMR LLC grew its position in shares of TD SYNNEX by 3.2% in the 4th 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 last quarter. JPMorgan Chase & Co. raised its stake in shares of TD SYNNEX by 10.7% during the 4th quarter. JPMorgan Chase & Co. now owns 3,335,501 shares of the business services provider's stock worth $391,188,000 after acquiring an additional 323,282 shares in the last quarter. Ninety One UK Ltd boosted its stake 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 acquiring an additional 1,016,251 shares in the last quarter. Finally, State Street Corp grew its holdings in TD SYNNEX by 0.7% in the third quarter. State Street Corp now owns 2,189,732 shares of the business services provider's stock worth $262,943,000 after purchasing an additional 15,995 shares during the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on SNX shares. Royal Bank of Canada lowered their price objective on TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating for the company in a research report on Friday. Barclays dropped their price target on 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. StockNews.com cut shares of TD SYNNEX from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Barrington Research reaffirmed an "outperform" rating and issued a $156.00 price target on shares of TD SYNNEX in a report on Friday, March 28th. Finally, Cfra dropped their price target on TD SYNNEX from $147.00 to $132.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $137.22.
View Our Latest Stock Analysis on SNX
TD SYNNEX Price Performance
Shares of SNX stock traded up $0.19 during mid-day trading on Tuesday, hitting $103.25. 339,780 shares of the stock were exchanged, compared to its average volume of 750,394. TD SYNNEX Co. has a 52-week low of $92.23 and a 52-week high of $145.10. 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 company has a market cap of $8.66 billion, a PE ratio of 12.97, a price-to-earnings-growth ratio of 1.06 and a beta of 1.36. The firm has a fifty day moving average of $125.45 and a 200 day moving average of $124.34.
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 business had revenue of $14.53 billion during the quarter, compared to analysts' expectations of $14.79 billion. During the same quarter last year, the firm earned $2.99 earnings per share. The firm's quarterly revenue was up 4.0% compared to the same quarter last year. Research 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 declared 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 1.70%. The ex-dividend date of this dividend is Friday, April 11th. TD SYNNEX's dividend payout ratio is presently 21.97%.
Insider Buying and Selling
In other TD SYNNEX news, Director Ann F. Vezina sold 839 shares of the firm's stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $136.08, for a total value 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard T. Hume sold 20,000 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $135.88, for a total transaction of $2,717,600.00. Following the sale, the director now directly owns 65,480 shares of the company's stock, valued at $8,897,422.40. The trade was a 23.40 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,172 shares of company stock worth $4,000,861. Insiders own 1.00% of the company's stock.
TD SYNNEX Profile
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Free Report)
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.
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