Mitsubishi UFJ Trust & Banking Corp lifted its position in TD SYNNEX Co. (NYSE:SNX - Free Report) by 131.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,152 shares of the business services provider's stock after acquiring an additional 19,412 shares during the period. Mitsubishi UFJ Trust & Banking Corp's holdings in TD SYNNEX were worth $4,005,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC acquired a new position in shares of TD SYNNEX in the fourth quarter valued at about $5,158,000. JPMorgan Chase & Co. increased its holdings in TD SYNNEX by 37.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider's stock worth $361,707,000 after buying an additional 813,634 shares during the period. IFP Advisors Inc raised its position in TD SYNNEX by 976.6% during the 4th quarter. IFP Advisors Inc now owns 1,012 shares of the business services provider's stock worth $119,000 after buying an additional 918 shares during the last quarter. Sei Investments Co. lifted its stake in TD SYNNEX by 25.5% during the 4th quarter. Sei Investments Co. now owns 70,745 shares of the business services provider's stock valued at $8,297,000 after acquiring an additional 14,379 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of TD SYNNEX in the 4th quarter valued at $2,260,000. Hedge funds and other institutional investors own 84.00% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on SNX. JPMorgan Chase & Co. reduced their target price on shares of TD SYNNEX from $150.00 to $125.00 and set a "neutral" rating for the company in a report on Friday, March 28th. Royal Bank of Canada lifted their price objective on TD SYNNEX from $140.00 to $165.00 and gave the company an "outperform" rating in a research note on Friday, February 21st. StockNews.com downgraded TD SYNNEX from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Cfra reduced their price target on TD SYNNEX from $147.00 to $132.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Finally, Barclays lowered their price objective on TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating on the stock in a research report on Friday, March 28th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $140.00.
Check Out Our Latest Analysis on TD SYNNEX
Insider Activity at TD SYNNEX
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 valued at $4,000,861. 1.00% of the stock is owned by corporate insiders.
TD SYNNEX Price Performance
NYSE SNX traded down $3.73 during trading hours on Friday, reaching $95.75. The company's stock had a trading volume of 2,372,884 shares, compared to its average volume of 734,038. 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 $94.46 and a 1-year high of $145.10. The company's 50-day moving average is $131.78 and its two-hundred day moving average is $125.26. The firm has a market capitalization of $8.08 billion, a price-to-earnings ratio of 12.03, a P/E/G ratio of 1.06 and a beta of 1.51.
TD SYNNEX (NYSE:SNX - Get Free Report) last announced its earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share (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 for the quarter, compared to analysts' expectations of $14.79 billion. During the same quarter last year, the business earned $2.99 EPS. The company's quarterly revenue was up 4.0% on a year-over-year basis. On average, equities analysts predict that TD SYNNEX Co. will post 11.88 EPS 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 given a dividend of $0.44 per share. The ex-dividend date is Friday, April 11th. This represents a $1.76 annualized dividend and a dividend yield of 1.84%. TD SYNNEX's dividend payout ratio (DPR) is presently 21.97%.
TD SYNNEX Company 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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