MetLife Investment Management LLC boosted its stake in TD SYNNEX Co. (NYSE:SNX - Free Report) by 8.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,682 shares of the business services provider's stock after purchasing an additional 3,383 shares during the period. MetLife Investment Management LLC owned approximately 0.05% of TD SYNNEX worth $5,006,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in SNX. Vanguard Group Inc. grew its stake in shares of 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 buying an additional 29,659 shares in the last quarter. FMR LLC raised its stake 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 valued at $898,738,000 after purchasing an additional 237,587 shares during the period. JPMorgan Chase & Co. lifted its position in shares of 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 purchasing an additional 323,282 shares in the last quarter. Ninety One UK Ltd boosted its stake in shares of 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 purchasing an additional 1,016,251 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in TD SYNNEX by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,266,614 shares of the business services provider's stock valued at $265,826,000 after purchasing an additional 31,404 shares in the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
SNX has been the topic of a number of recent analyst reports. Barrington Research reiterated an "outperform" rating and issued a $156.00 price objective on shares of TD SYNNEX in a report on Friday, April 11th. Barclays reduced their price target on TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating for the company in a report on Friday, March 28th. JPMorgan Chase & Co. dropped their price objective on TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Royal Bank of Canada cut their target price on TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Finally, The Goldman Sachs Group decreased their price target on shares of TD SYNNEX from $154.00 to $137.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $137.22.
View Our Latest Report on SNX
Insider Buying and Selling
In related news, CEO Patrick Zammit sold 6,823 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $143.00, for a total value of $975,689.00. Following the completion of the transaction, the chief executive officer now directly owns 165,604 shares of the company's stock, valued at $23,681,372. This represents a 3.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard T. Hume sold 20,000 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $135.88, for a total value of $2,717,600.00. Following the transaction, the director now owns 65,480 shares of the company's stock, valued at $8,897,422.40. This trade represents a 23.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,333 shares of company stock valued at $3,886,690 in the last quarter. Company insiders own 1.00% of the company's stock.
TD SYNNEX Stock Performance
Shares of SNX stock traded up $0.85 on Friday, hitting $111.21. 567,689 shares of the stock traded hands, compared to its average volume of 752,735. The company has a market capitalization of $9.33 billion, a PE ratio of 13.97, a PEG ratio of 1.06 and a beta of 1.36. The company's fifty day moving average is $118.81 and its 200 day moving average is $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 Co. has a 1-year low of $92.23 and a 1-year high of $145.10.
TD SYNNEX (NYSE:SNX - Get Free Report) last posted its quarterly 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). 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 analyst estimates of $14.79 billion. During the same period last year, the firm posted $2.99 earnings per share. The company's quarterly revenue was up 4.0% on a year-over-year basis. On average, equities research analysts predict that TD SYNNEX Co. will post 11.88 earnings per share for the current fiscal year.
TD SYNNEX Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, April 25th. Stockholders 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 annualized dividend and a dividend yield of 1.58%. TD SYNNEX's dividend payout ratio is currently 21.97%.
About TD SYNNEX
(
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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