Lyrical Asset Management LP Buys 44,309 Shares of TD SYNNEX Co. (NYSE:SNX)

Lyrical Asset Management LP grew its stake in TD SYNNEX Co. (NYSE:SNX - Free Report) by 3.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,288,363 shares of the business services provider's stock after purchasing an additional 44,309 shares during the quarter. TD SYNNEX comprises approximately 2.3% of Lyrical Asset Management LP's holdings, making the stock its 22nd largest holding. Lyrical Asset Management LP owned 1.52% of TD SYNNEX worth $151,099,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Arizona State Retirement System boosted its holdings in TD SYNNEX by 0.4% during the fourth 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. Quadrant Capital Group LLC boosted its stake in TD SYNNEX by 9.2% during the 4th quarter. Quadrant Capital Group LLC now owns 1,068 shares of the business services provider's stock worth $125,000 after acquiring an additional 90 shares during the last quarter. Amundi grew its holdings in TD SYNNEX by 22.3% during the fourth quarter. Amundi now owns 560 shares of the business services provider's stock valued at $66,000 after purchasing an additional 102 shares during the period. Highland Capital Management LLC increased its stake in TD SYNNEX by 6.5% in the fourth quarter. Highland Capital Management LLC now owns 1,905 shares of the business services provider's stock valued at $223,000 after purchasing an additional 116 shares in the last quarter. Finally, Global Retirement Partners LLC raised its holdings in TD SYNNEX by 31.9% in the fourth quarter. Global Retirement Partners LLC now owns 480 shares of the business services provider's stock worth $56,000 after purchasing an additional 116 shares during the period. 84.00% of the stock is currently owned by institutional investors.

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TD SYNNEX Stock Performance

NYSE SNX traded up $0.16 during trading on Friday, reaching $101.57. 685,805 shares of the company's stock were exchanged, compared to its average volume of 748,025. TD SYNNEX Co. has a fifty-two week low of $92.23 and a fifty-two week high of $145.10. The stock has a market capitalization of $8.57 billion, a P/E ratio of 12.72, a PEG ratio of 1.06 and a beta of 1.36. The business has a 50 day moving average price of $127.01 and a 200-day moving average price of $124.53. 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 quarterly 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). 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 the consensus estimate of $14.79 billion. During the same quarter last year, the company posted $2.99 EPS. The firm's revenue was up 4.0% on a year-over-year basis. Sell-side analysts forecast that TD SYNNEX Co. will post 11.88 earnings per share for the current fiscal 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 issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend is Friday, April 11th. TD SYNNEX's payout ratio is 21.97%.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, CEO Patrick Zammit sold 6,823 shares of the firm's stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $143.00, for a total transaction of $975,689.00. Following the transaction, the chief executive officer now owns 165,604 shares in the company, valued at $23,681,372. This trade represents a 3.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ann F. Vezina sold 839 shares of the 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 sale, the director now directly owns 4,856 shares in the company, valued at approximately $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. In the last 90 days, insiders have sold 29,172 shares of company stock worth $4,000,861. Insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Cfra dropped their price objective 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. JPMorgan Chase & Co. reduced their price target on TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating for the company in a research report on Friday. The Goldman Sachs Group lowered their price target 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. Barclays dropped their target price on TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating on the stock in a report on Friday, March 28th. Finally, StockNews.com downgraded TD SYNNEX from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $137.22.

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.